All Forum Posts by: Bob Willis

 I thought that would be the case.

 Hey Derek - are your PMLs people you personally know, or are you reaching out to other people in some manner?

Hey Kristi - the mortgage will be paid by the LLC of which my SDIRA is a member.

Hey Jeff - are you saying the LLC acquiring a property subject-to an existing loan is a prohibited transaction?

 Hey @Brett Synicky - I do not have any income reported on schedule C, but that'e easy enough to remediate. Is there a threshold you want to make sure you reach relative to the minimum reported on the schedule C. And is it really as simple as that?

Will Hard Money Lenders work with buyers on subject-to deals? I ask because I have two subject-to deals on the vine, one I'm closing next week and the other shortly after. I don't have enough cash to do both. I was wondering if bringing in a HML would keep me from using all of my cash.

 What does it take to qualify for a Solo 401k? I am still a full time W2 cog.

Hey All,

I have reached to my accountant about this but thought I would ask  here to see if anyone has done something similar.

An LLC of which I am the manager, and my SDIRA is the only member, is in the process of acquiring a property subject-to. Does the underlying mortgage debt, which I will be paying in an ongoing manner, qualify as a non-recourse loan and thus trigger UBIT? Does this make sense?

Thanks,
Bob

Hey All,

I am considering the purchase of two properties from a flipper.

I can get both subject to, but the flipper also wants a cash premium on top of that (which I understand).

The flipper is asking near retail for both (one has been fully re-habbed (asking full retail price), the other has not been re-habbed (asking near retail price).

My main question is (and I understand there is an "it depends" to all of this), without taking rehab into consideration what kind of discount should I expect/propose on a deal? Is there a "standard" when buying multiple properties at once (I am guessing, "it depends.") but thought I would ask.

The flipper is motivated to get cash out in that he has said there is another bigger, stronger deal he is working on and needs the money. 

Happy Holidays, and thanks for your time.

Regards,

Bob

Hey All,

I have the opportunity to acquire a property. The seller is talking about rent to own, but I think as a buyer I should be more interested in subject to or wrap financing, correct? With rent to own I feel like I would be more exposed (not paying the underlying note, etc).

Am I wrong in this? First time considering an acquisition in this manner.

Thanks,
Bob