All Forum Posts by: Charles E Bernard Jr

I am just starting out in turnkey properties. I plan on buying my first property in August. I contacted both Norada and Roofstock. Roofstock called first and said they would call me back in July. Melissa Nash from Norada contacted me today and gave me a wealth of information including podcasts, articles and names of books I should read. Right now, I am now looking at current properties priced at $111k with 20% down, 3 bdrm and in a “B” neighborhood in either Birmingham or Mobile. I realize I will have to sacrifice appreciation compared to Kansas City but at least I am getting my foot in the door. Everything I have read on Bigger Pockets and researched on the Internet, I have read so far in Melissa’s info and listened to on both BP podcasts and the Passive Real Estate Investing podcast. I haven’t heard anything negative about Norada so far but if anyone knows something negative, please tell me on this thread or give me a link. In the meantime, I will continue learning through Melissa’s referrals and other Internet research.

I was actually going to withdraw the entire amount; not buy the property in a self directed IRA. This still leaves my wife's Roth IRA. Also while I am retired, I work 24 hours a week as a Senior caregiver. Also my wife works as a CFO.

I am 68 years old. My Roth IRA was opened five years ago in August 2019. I have been contributing regularly to it. Is there any reason I can't take the whole amount out of the Roth IRA to purchase my first turnkey property in Indianapolis or Kansas City in August? We also have $150,000 equity in our home as a safety net.