All Forum Posts by: Andrew R.

Checking back in, I'm still with USREEB and have had good luck. I may have been one of the early BP members getting started there and we were all new to the process so there were some little bumps along the way.   It's some class b and c homes and section 8 tenants, but overall I'm pleased. Staff is great working remotely and they're taking good care of my accounts.

Hello,

Seeking trustworthy inspection company for homes in the Detroit area, please send any recommendations. I'd love to connect with other Buy+Hold investors in the region to chat as well.  Thank you, AR

Thanks @Andrew Postell. Do you lend in Missouri?  I have not done Delayed Financing before but have several regular mortgages. 

Hi, I'm shopping for Delayed Finance loans, 30 yr fixed, for properties in the 60 to 100K range. 

Can anyone give me a ballpark what rates I should be expecting? Properties are in Missouri, great credit, currently have 5 investment property loans. 

(Welcome referrals too, thanks)

Thanks all, Yes I've narrowed down my preferred strategy to be community banks, portfolio lenders, and/or comm lenders in my investment areas. In this forum, I'm seeking concrete recommendations to actual lenders (loan officers or names of companies) that work with investors in Missouri and/or Michigan. Thanks!

Hello,

I'm seeking referrals for a Credit Union/Bank/Broker who offers mortgages outside of the Fannie/Freddie programs, after I've used my 10 federal loan slots.  I invest in Michigan and Missouri but live in Calif, so seeking someone who can work with investors remotely.  Thanks for any recommendations.  (I'm not looking for short-term financing, but rather long-term mortgages with low rates. Excellent credit and qualifications here)

Thanks already everyone, my money is currently in an IRA; I do not have a 401k and I'm not self-employed, so Solo401k is not a good fit for me.

EquityTrust appears to offer SDIRA with no transaction fees. Other than transaction fees and checkbook control, are there other + or - to the "LLC or Not" debate, specifically for SDIRA?

I have done research already, but hoping for a quick primer on:
I want to move some of my IRA into Self-Directed and use it for rental properties. I will purchase 1 or 2 homes using non-recourse loans, and I'm shopping turnkey investments-- I'm not doing flips, rehab, wholesale, or other arrangements.

My question: what are the differences and Pro V Con for using an LLC within my SDIRA vs Not using LLC?

(I do not have an LLC now, I am the only person involved, I live in Calif and LLC registry fees are expensive here. So leaning away from using an LLC. )

Thank you!

Hi, long question: I use a property management co. They collect rents for December and pay me out at the end of the month--the money hits my bank account on January 3.  Some maintenance jobs were done mid December, which are also withdrawn from my bank account on Jan 3. 

Should I include these on my 2016 taxes or 2017? The tenant paid my prop manager in 2016 but I didn't see any $ until 2017.

(I understand the disclaimer that I should ask a tax professional etc.....but I'm asking here for general thoughts and opinions). Thanks!

I have done transactions in both types of "models" and I'd agree with Kim, you can save money doing more of the work and logistics yourself, but you are spending more time and energy to do so. With the turnkey model, you do often get an "instant" tenant, so considering that there is no down-time and no first-month property mgmt fee, that can be worth $1-2000 instantly, which helps offset some of the higher initial cost of the turnkey product. The downside is that you probably won't find that diamond-in-the-rough, home-run, huge ROI deal with the turnkey model. It's more slow-n-steady.