All Forum Posts by: Joseph M.

Is a self-directed IRA worth it if you don't already have one? What would be the benefits of starting to save in a self-directed IRA vs just using post-tax cash and utilizing tax strategies, such at 1031 exchanges?

@ Kyle J. Are there any situations that you know of surrounding refinancing or home equity loans, where tax would be owed?

Are there any tax implications if you get a line of credit or refinance to pull cash out of a property to invest in another? From my understanding, pulling out cash through a refinance would have tax implications. Can you still write off the cost of that money in the line of credit scenario?

I have ready that after 4 conventional loans, it can be hard to get additional mortgages, so I am trying to get ahead of this. Right now I have three conventional loans on three properties, two of which are investment and one which is my primary residence (FHA Mortgage). I am currently considering a 3-Family and found a bank that will give me a commercial loan in my name.

Can I bundle investment properties into a blanket commercial loan? Is there a benefit to that? What if I had separate LLCs for all the properties when I do this? I want to make sure I don't tap out my ability to get financing, although it would seem that I could go the commercial loan route for much longer.

@ Jeanette Adler Thanks for sharing! Are you able to share a little but more about the fraud perpetrated so people can know what to look out for?

Thanks @ Jd Martin

@ Chris Falk Just got contacted by them after putting in an inquiry a couple weeks back. Read through most of these posts as well and there are a lot of suspicious posts that make me question the integrity of this organization. Has anyone with credibility on biggerpockets had any good or bad experiences or have had close contacts with experience to share? PM me if you would like.

On the topic of using Insurance, LLCs, SCorps,Trusts, etc for asset protection. 

Have you been sued, why, how much did the litigation cost you and what was the outcome and how did you have your investments protected? It would also help those newer to real estate investing (less than 5 years for me) to know how many suits you have had vs. the amount of units and amount of time in real estate investing, as well as if the property was class A, B, C or D.

@ Alex Brookbank Did you go with an FHA primary resident loan and live in one of the units? PM me if you have to. Thanks!

I think I will wait until my assets have enough equity to make it worth my time. If I got sued now, there would be less than $100K for them to go after other than insurance and umbrella policy. I can see this being more important as I grow my investments. Podcast 109 says at the beginning the advice is for investors with $5-10 Million in assets. I haven't listened yet, so maybe there will be advice for the smaller investor.