All Forum Posts by: Dolly Caswell

Good morning @Chase Thompson, I've read so much about your blog and so I downloaded iTunes and etc in order to hear it on a regular basis. No sound! I've tweaked everything I can think of and still no sound. I get sound with everything else I use, but not your podcasts. I tried to find a "contact us" button on your site, to no avail, so am reaching out here to ask for help. Thanks, I'd really like to listen to your podcasts.

Welcome @Randy Phillips to BP. I live in Alaska and am very interested in doing deals here. I'm not sure how you, in Central California, can get wholesale deals in AK, but more power to you! I haven't a clue how to do that. But I do want to buy, possibly flip and or keep, rent and repeat. We have a really hot market right now, but rumors are that there are a lot of lay-offs on the North Slope and the State of AK is having budget problems as well. Foreclosures are there, but they are still terribly high priced. Bottom line, there are few bargains to be had and few that are worth taking the financial risk. Like someone else said here, if you need a local in this area give me a call.

Well said @Bill B.B. When I own "doors" the checks never stop. When I own notes they do. Puts it in perspective for me!

Gentlemen, there were several of you who weighed in and I so appreciate it, so let me be brief. No, I do not want to pay myself management fees, I simply want the cost of little repairs to be done prudently and not with a $100 per hour contractor to change light bulbs. Honest to goodness, I have been told - instructed that as the owner I absolutely cannot do anything to/with/about that condo except be on the receiving end of the rental income in my SDIRA. I'm not trying to milk it, I just want to keep the maintenance costs down. The teeny-weeny back yard needs cleaning up  and seeding for a lawn and I'm told I can't even do that. The bank that handles the SDIRA (now that I recall it) is the one who insisted that I couldn't do anything - that a PM had to manage everything.

Hi @Justin Windham, You've said a couple of times on this thread that you can manage a property owned in your IRA. Could you give me the basis of that ruling, please? I was advised that based on IRS regs I HAD to have a professional PM, that other than authorizing payments of expenses I could not do ANYTHING ELSE with/on behalf of/etc. a condo that I own free and clear in my SDIRA. I can't even change a lightbulb there but must pay someone else to do it. I would love to get out from under a fairly expensive PM who doesn't pay close attention to my condo or to me...and still gets paid well.

Great info @Thomas Franklin, thanks, I didn't know the issues behind LLCs and loan closings. I've heard about lenders and their "due on sale clause" but didn't know an LLC might trigger it if not done right.

Also @Bob E, have you any idea what a lawyer, and a contractor or PM costs in Alaska? I suppose I am imagining they cost as much elsewhere. And quite frankly, if I can't SEE the work being done, how do I know it's being done right and I'm getting what I'm paying for? I don't know what a servicer costs, but I can roughly calculate that a servicer, lawyer and a PM who will also rehab the property will cost a fortune...at least they do here.

Hmmm, @Bob E,.....short duration front end payments where the seller still has substantial interest in the latter payments so they will be motivated to look out for MY interest, or buy me out?? I have no idea what you are talking about!  Could you explain and be specific?? Thanks, by the way for your idea.

Yes,  I know I can buy notes elsewhere, but IF I have to foreclose, it seems to me that if the property is no more than a 3 hour car trip vs. a $600 plane ticket plus hotel, plus, plus that I have the home front advantage here. Interesting that you say there are better deals in other states, @Darren Eady, could you tell me why? And thanks so much for your input.

Good ideas, @Connor Dunham and @Bob E. I appreciate your input. I'll make some calls Monday.

@W.J. Mencarow I have sent you a PM and will be interested In what you have to say.