All Forum Posts by: Adam Scheetz

My strategy for investing includes Buy & Hold, financing flips, and of course Lease Options!

How can I best setup an IRA in which I can own an LLC to purchase and acquire properties, that are LLC's themselves?

Sorry if this is convoluted. I'll attempt to clarify if the previous statement is confusing.

1. I want an IRA in which I can dump money and use said money for investing and reinvesting.
2. Do I need to OWN an LLC within my IRA in order to purchase these properties?
3. Once acquired, I intended to setup an LLC for each property that I plan on holding long term.

I look forward to some far more intelligent people offering their opinions.

Thanks,

Adam Scheetz

@Mark Harden it really depends on what stragedy you use. What's yours? Also, check out our FB Page. Augusta RE Investors Group. Thanks

@Michael Marchman would you consider joining our FB group. Augusta RE Investors Group. I'd love to hear more about what you do.

@Deb R. honestly, if I don't have positive equity and cash flow upon closing, I won't do it. My reasoning is that if I don't have those things, I might as well go find a good turn key company and buy from them. They suck up all the equity in exchange for the cash flow. Why would I waste my time on a property that isn't worth it when I could just go to a reputable turn key Provider for the same thing. Hope this helps.

@Roy Gur the name is, Augusta RE Investors Group 

@Winn Merwin that's great insight. Would you consider joining our FB Page. 'Augusta RE Investors Group'. I'd love to have you on.

@Deb R. Plus for a $50k down payment you could go to Georgia and SC where I look and buy several properties that cash flow.

@Deb R.

Based on your numbers this is a terrible deal. You don't have a net return that's positive till 15 years. You're negative cash flow right out of the gate and I think 5% for vacancy, repairs, and maintenance is too low unless your hand and direction was in on the rehab to know just how 'rehabbed' it truly is. Don't do it. No deal far better than a bad one. Happy hunting.

@Colleen Weaver I'm dealing with this in Augusta Georgia now. The public schools are garbage and the magnet schools are incredible. As in a 1-3 rating if I'm lucky for public and an 8-9 rating for the Private and Magnet schools. But they're both in the same neighborhoods at times. But for me if I was aiming for small families to rent to than it would matter more. I going for equity, ROI, and cash flow.

@Colleen Weaver I'm dealing with this in Augusta Georgia now. The public schools garbage and the magnet schools are incredible. As in a 1-3 rating if I'm lucky for public and an 8-9 rating for the Private and Magnet schools. But they're both in the same neighborhoods at times. But for me if I was aiming for small families to rent to than it would matter more. I going for equity, ROI, and cash flow.