All Forum Posts by: Chris Policicchio

@Jaclyn Peyton I think @Dmitriy Fomichenko is spot on. While I have not yet opened a self-directed IRA, I have spoken with both uDirect (Jeff Dixon) and Pensco (Allison Vandenberg).  They are both very helpful and informative. 

The LLC route, IMO, is the only way to go b/c of the checkbook control that Dmitriy mentioned. You open the self-directed IRA, create an LLC (the funds in the IRA *have* to pay for the LLC, then open up a business bank account for the LLC.

Good luck!

@Dmitriy Fomichenko

Hey @Westin Hudnall, I sent you a colleague request to connect.  I've loaned before and the amount you are looking for is an amount I'm comfortable with.  Let me know if you'd like to talk more.

Thanks!

Hey @Westin Hudnall!  Couple quick questions - would I be able to be in 1st position on the loan?  And how much funding are you looking for?  

@Corey Drexler Whether or not you are finding a good deal can only be answered by you, unfortunately. :-( I think if you can purchase a multifamily and have the other apts cover your mortgage (so you can live for free) and benefit from some other tax benefits, that's a really great start. But as far as appreciation and/or cash flow goes or what CoC (cash on cash) returns and other metrics you should shoot for, it's really up to you as to what is good or not good.

@Jonathan C. how long have you been committed to sending out that amount?  Have you varied your approach much?  Piggy-backing off of the last weeks podcast, I would suggest analyzing your data.  Can you see where 80% of your deals are coming from?  If you are sending the same exact letter, envelope, etc. every time, you might want to mix things up a bit to test for an improved response rate (I'm not suggesting your response rate is not good though :-)).  Good luck!

Driving for dollars.

Hey @Corey Drexler, welcome to BP!  I agree with @Chris Mylan, the $ per door will depend on the area and your own specific goals. With an FHA loan, if you are putting less down, you are going to have a higher mortgage payment, so it's going to be tough to generate a lot of cash flow. I haven't targeted investing East of Pittsburgh, so I can't speak to the specifics out that way too much. I'm more familiar with the North Hills area. So you are looking for a duplex and you are going to live in one side and rent out the other? Is that your plan? In the $100k range? Do you have a time frame in mind?

Hi @Account Closed!  Welcome to BP.  What parts of the Pittsburgh area are you considering investing in?  

@Joey Zaniboni I think the only thing you can do is combine your lists into a master list and check for duplicates.  I have done that for my campaigns.  Using Excel, it's not too difficult.  

@Nicholas Hooyman I use PATLive.  They have been great for me.  I have been using them for about 6 months.  YellowLetters.com has also recently added a Call Center to their products.  I haven't used them, but I suspect they are very comparable to PATLive.

Good luck!