All Forum Posts by: Cal Dunagan

@Nat Rojas

David's advice is pretty comprehensive without getting into the "legal" weeds, so to speak. I don't have too much to add, however, I think I can point you to a good article here on BP about when you should look for an attorney. Your question seems complex enough to warrant a preliminary discussion with a legal professional.

@Haishan Peiris

As a number of people in the thread have already stated, an LLC is absolutely the right move. You should read up on how they can benefit your real estate investment ventures. There are a ton of great articles on BP, including this one about the basics. Also, you should consider a Series LLC if you plan on multiple investment properties. There are a number of different things you should consider when deciding how to protect your investments. For instance, different types of LLCs have differing tax structures.

@Sipan Y.

You have some excellent advice in this thread. Any time you wonder if you need an attorney, you likely need an attorney! Here's a pretty good article regarding when to find a real estate attorney. Additionally, there are a few questions you want to ask any prospective attorney to ensure you're getting the best advice. Finally, since you're going to be flipping, check out this article about how to assess calculations when flipping.

Best of luck and welcome to BP!

@Stacie Katori

If I were you, I would have been on the phone with an attorney yesterday :) I know it seems daunting to involve an attorney, but this is definitely a situation where you want legal representation. Here's a great article about what you should ask any attorney you reach out to in order to make sure they're qualified to help you with real estate problems.

Best of luck!

@Yuriy Grytsulyak

I found a great article about flipping calculations. This goes over most of what you need to consider. You have most of this covered, but it's always good to double check.

Best of luck investing!

@Mitchell Johnson

I'm not an attorney, but I am in law school and in my opinion it looks like there may be a problem with this transaction. I can't give you legal advice until I'm a licensed attorney and you decide to hire me as your attorney! This is definitely a situation where you want to reach out to a real estate attorney. Check out this article for more information about when you want to talk with a legal expert.

Best of luck!

@ Dylan Barnard

Dmitriy has given some solid advice. There are a number of great articles here on BP about Self-Directed and Roth IRAs. Here's a quick FAQ about Self-Directed IRAs that I think would be helpful for you. And if you want to know a bit more about using your Roth IRA to invest, this might be up your alley. Finally, here are some rules to keep in mind when using your IRA to invest.

Good luck investing!

@Carol Hensal

I found another good article about this situation that may be helpful. Let me know if this is what you're looking for!

@George Manuel

It's likely that Zack is correct about the loan showing up on your credit report. As far as the legal ramifications of such a transaction and avoiding this investment from showing up on your report, you really need to speak with a real estate attorney. They'll be able to help you with your specific problem much better than we can, as it's against the Rules of Ethics for a non-lawyer to give out legal advice.

@Brett Nigro

You're getting some good advice in this thread. Another thing you should consider is getting a good tax/real estate lawyer. They might know how to make this process much easier and will know how to make the most out of your tax exchange.