All Forum Posts by: Christopher Bannister

Good morning everyone and happy holidays!!! Wanted to reach out to any investors, or home owners, interested in discussing seller financing options within the Delaware, Pennsylvania, south Jersey tri-state area. Looking into using this strategy to purchase a property and make it a win-win for both parties involved.

@Mike Hern thank you for for your insight, I’d definitely like to understand more prior to contacting this individual.

Good evening BP nation and happy holidays to all!!! I have a question, I found a home on Craigslist that the owner is trying to rent for $1300/month. I contacted the number found on the listing which sent me to “finder homes” where they asked me to setup an account for $99 to retrieve the address location as well as the home owners contact information. Instead of wasting money doing that, I did some digging and found the exact address of the home as well as the home owner. Ok, now here’s the problem…after doing some research, I noticed the homeowner is in foreclosure and there’s a judgement that’s been in place since August 2019, but based of the Craigslist add, he wants to do “rent to own” and have the payments sent directly to the bank. Correct me if I’m wrong, but he can’t legally do so if the bank owns the home now, if he can still rent the property, is there any legal steps that can be put into place to protect the renter?

I'm ready to move my money from my Simple IRA to a Self-Directed IRA. I've done my research, and it's seems like wise move to make. With that said, I'd like to thank @Joe Homs who sent me an abundance of info that led me to finding "Sense Financial", I have a consultation scheduled for Wednesday with Dmitriy. Many of you have left informative post and I'd like to keep in touch with those individuals throughout this process, especially the individuals located in Delaware.

@Justin Windham How are investors using SDIRA or Solo 401k's as tools for their Real Estate Investing.  What are they investing in (Commercial, Residential, Land) and how are they investing that money (Partnerships, syndications, broker).  

@Ryan 

@Ryan Hughes I'm a bit confused here.  So for the loan purpose, your suggesting a secured with using some type of asset I own for collateral? If so, where does the SDIRA come into play and how can it benefit me with my first purchase?

Good Afternoon BP Nation, just wanted to help out my fellow Newbie Investors with a "Quick Tip"....I highly suggest you listen, and take notes, of Podcast 61 with Ben Leybovich.  This is a highly informative Podcast, as are all of them depending on your niche, but this one has some very basic information that I believe newbie investors, such as myself, could use when analyzing properties.  The focus is on Multifamily Properties, but the information can be used with most strategies. WARNING...Its veryyyyyyyyy long, 2-hours to be exact, I started the Podcast in Atlanta, GA and it didn't end till I got just north of Chattanooga, TN.  It's easy for me to sit and listen due to my occupation, but I highly suggest you make the time to listen to this Podcast.  The Podcast is also pretty funny listening to Ben bicker about Brandons "Waldo" property.  Good luck to all my fellow newbies, and if you're in the PA, NJ, DE Tri-State area, lookout for a meetup coming near you hosted by yours truly!  I don't have experience, but who cares, I want all of us to come together and have a great time networking and getting to know one another

 

@Justin Windham So what you're saying is that I can keep investing in stocks, as well as Real Estate, with a self-directed IRA? that's what I'm getting from that. If so, that's a great way to diversify, but wouldn't you agree that the ROI in Real Estate would bring greater returns?

@Alan Johnson I needed that good laugh and I’ll be more than happy to meet up with you when I get off the road. I’m actually getting ready to head out of town now on my way to Atlanta, GA…but I should be back this weekend. Either way, I’d like to meet up to discuss this further and I’ll be sure to have my prescription from Dr. Jack Daniels with me, his vaccine shots are awesome!!!

@Carl Fischer I would like to contact you this week if you'd have the time to further discuss this.  When talking with "financial planners", they typically aren't knowledgeable with regards to Real Estate Investing and tend to steer away from it, seems I have the best of both worlds with you and I'd like to pick your brain a bit more about this matter. 

@Alan Johnson It is a Simple IRA for a small business. I see you have a lot of experience as well and appreciate the feedback. I'm going to try and connect with Carl this week, but I'd also liked to keep in contact with you as well while I'm trying to get this figured out to make sure I'm making the right decision.