All Forum Posts by: David L Foreman

Thanks sincerely for your inputs Ed, Scott and Paul. As always I get great information and recommendations from the BP community! 

Thank you Charles. You make great points about the tax considerations. I'm currently holding a traditional IRA. If I make a move I'll definitely consider the potential tax implications of the strategy as you suggested.

Thank you Jeffery, Michael, and Frank for your comments. Much appreciated. Frank I listen to a lot of podcasts. i will find the one you reference and listen.

Thank You James and Evan for your responses! Both were thought provoking and valuable.

I like Jame's idea of diversifying in into  syndication. Using an SDIRA, I could invest some funds in the stock market and some in syndication.

Evan, the article you referred me to made me realize that my investments would be limited to those the IRA could pay cash for plus cover all expenses -i.e. no leverage. I think it would work out fine if I had enough in there to make the size acquisitions I desire - unfortunately I would be very limited with what I could purchase even with investing my entire IRA.

Again, thanks for your input!

Will any investors share their experience (good and bad) with using a self directed IRA to jump start their investment business? I am 61. My investment objectives are primarily to build cash flow and equity which can be used for retirement at approximately age 67.

I plan to acquire 25 small multi family doors in the next 6 years. I currently have very limited free cash to make immediate investments. Although I am working to develop investment partnerships to fund deals outside of the IRA, I am considering the SDIRA to invest in an asset I can control and get moving more quickly.

Thanks!

Hi Casida, I am interested to know whether you went with Hometap or did the HELOC? Please let us know what your deciding factor was to pursue either strategy or none at all.

Hi Dewey, I often get referrals from other real estate investors. I have also used thumbtack and yelp to find and get initial bids. I often see postings on Nextdoor asking for referrals. Although, I have not used that, people get lots of referrals - of course you need to screen them yourself. It is tempting to hire the cheapest contractor but I recommend making sure a contractor is licensed and bonded. You can find license information on your local government websites. Ask the contractor to show you their license and bond. 

Thanks for your follow up comments Mason, I agree that these areas would be great choices for long term high quality tenants. I have been focused small multi-family just because it think it has potential to produce more cash flow. I know I must consider total return in the current market. Are you aware of available multi family properties in these areas. I know they are building a lot of SFH's. I do not know that market as well as I do South Scottsdale and East Phoenix.

Thanks for your reply Mason, do you have any properties in Tucson? Are there any specific areas you recommend or recommend avoiding? I plan to make a trip down to become more familiar with the Tucson area soon. 

I am interested in comments comparing Phoenix and Tucson, Arizona markets for long term and BRRRR strategies. I am primarily interested in small multi-family. I have been focused on Phoenix since I am local here, but it looks like pricing and cash flow may be better in Tucson. What do you think?