All Forum Posts by: Alfred RIchner

https://www.biggerpockets.com/...

 What is velocity banking to pay off a mortgage? 

Makes sense and that is why I joined BP. When I bought the land I was planning to either keep it or build something to rent and eventually sell.

So the only way to do that is to be done 100% from the Roth.

I think best is to sell it now and reinvest the profits into income generation.

I have now a 3.5 acre to sell. First $60k takes it.

Thank you

I have lived in Santo Domingo DR, San Juan PR, Atlanta, Raleigh, Jupiter/North Palm Beach/Palm Beach Gardens and as get ready to retire, I think the parameters to locate do change with age.You want excellent medical care / good access to transportation / airport w/ cheap fares/ mountains and lakes and occasional beach. Love the Destin, FL area, New Orleans and NYC to visit for a while, but deep down I need to travel and stay for a week or maybe a month in areas around the world to allow me to be curious and explore and meet new people and become fascinated with culture / food and beautiful areas. Bet I will leverage my $1 ebay timeshares and RCI to wanderlust while I leave in a beautiful area of Atlanta with family and friends. No better place than home. 

My Self Directed solo 401k can finance the built and both the Roth and the 401k investment will benefit would it be legal? Better if I can crowdfund a build and participate in the profit of selling the enhanced property. 

I do understand the point of just a clean sell right now. But would you go for a $30K profit or a 50% share of a $200k profit?

Bought a 3.5k North Georgia mountain lot with electricity a few years back. Now either I make a 100%+ profit or should I go ahead and commission a 2 bedroom / 2 bath with loft cabin to sell for a larger profit. Getting good selling floor plans from real estate agent. Because it is a SD Roth IRA holding title, I can't be the Project Manager and have been very careful to protect its status. But I can get a builder to work on my plan. Financing is iffy -but could either raise some Self Directed 401K loan and could also partner with builder. Any ideas and suggestions on how to go about it? 2 miles from Lake Burton Georgia as the crow flies.