All Forum Posts by: Avi Garg

@Bryan Dunalp Its not just about closing the deal. How will you pay your credit card in full by the end of the 0% promotion period? If you don't pay in full, you will be charged higher interest rate ... So lets say you received $40k from CC and bought a property right away (+ closing costs) ... in 6 months you refinance .. now unless your property value increased, you will get a max of 80% of ARV .. which is 32k (minus any closing costs) ...

Is your aggregate credit limit 50K over all cards or just the ones you can get 0%? As @Jerry Padilla mentioned, keep the overall utilization low

Send me more info with property address .. a_vi (at) hotmail.com

Interested in the KCMO assets

@Serena Halterman: I just logged in to ask the same question. I have not done any direct mail campaigns but looking to buy more properties in KC and STL (have 2 in STL so far). Also with limited funds, I want to explore the option of seller financing.

@Gordon Cuffe: Would you mind sharing the deals with me as well. I will send you a pm

@Mark Nolan .. Thanks for the advice. Would a LLC for buy and hold investing qualify for solo 401k? My guess is its not since its passive investing rather than self-employment. Correct me if I am wrong.

Thanks for the quick replies @Brian Eastman and @Rajeev Kotyan ... I am not a RE agent so I guess it will be okay to sell it myself. Brian brings a good point on the UDFI. I didn't have to file for UDFI last year since I was under the threshold after taking all the expenses and depreciation but I just realized that this will get more complicated when I sell. 

Guess now I need to find a CPA who is well versed with SDIRA 

This was my first property in Baytown, TX which I bought using funds in SD-IRA and took a non-recourse loan on it as well. Its rented out for $1400 (lease was renewed for another year in March), professionally managed and currently worth $155k. Is it okay to sell the property myself which belongs in a SDIRA?

Also even if he sells they property to someone else, the proceeds (including profit) goes back into the IRA account and not to his personal bank account

Message me as well

You can do a non recourse loan. It's based on the property value. You do have to put 30-40% down with a higher interest rate(6-7%). Search bigger pockets and u will find a few companies doing this type of loan.