All Forum Posts by: Don Blevins

My wife and I have been divorced for eight years.  We have two college aged children whom she still claims as Dependents on her income tax return.  I have a house in my Traditional SDIRA.  Can I sell her this house, or is she considered a disqualified person because of my children being her dependents and living with her when they are not at college?

You may want to check with the college as well.  Many Universities require students to live on campus 1, 2 or maybe all 4 years.  You also want to be certain the building is up to code for renting to students.  Often times a sprinkler system etc. is required.

Hi Gary, I am new to BP, but not Real Estate.  I am a licensed North Carolina Realtor and a Notary Public.  I don't list and sell houses, as I use my R.E. License to further my investing.  Good luck to you and if I can help in any way, please reach out to me.

Don Blevins,

Greensboro, NC

Insurance of only $276. Is that monthly? Where did you come up with the $2,300 a month rent? What sort of Property Management fee, and repairs are you budgeting for? Your next lender will be third in line should things go south. I wish you well, but I don't know of a lender willing to make a loan such as that. I agree with Matt. I'm shocked that a Hard Money lender would consider giving you such a high LTV, low interest rate and long term (3-5 years) loan.

I am NOT an attorney, or CPA so my opinion is worth what you are paying for it.  I doubt you will have a marketable Deed on the Property because your purchase cannot take precedence over that of a lien of the U.S. Federal Government.  The tax lien you purchased from the State Of Louisiana in 2010 in my opinion is inferior to that of a Federal Government entity.  You need a good Real Estate/Tax Attorney to give you guidance.

Hi Carolyn,  I am a Realtor and Investor in the same markets as you are.  I don't know how we can contact each other here, but I'm willing to chat.

Hi Andrea:

I'll be at the IHOP on Silas Creek Parkway in southern Winston Salem with some folks from Ardmore Realty Friday (tomorrow) morning around 8:30am in the back room if you want to meet for breakfast.

I have to go to a house outside of Mocksville that I'm having some water proofing done by Mike Brown tomorrow if you are up for a road trip.  We aren't allowed to post phone numbers on this site. The address is 5576 Hwy. 801 South, Mocksville, NC.

Always looking for a good deal. 

Don

Hello Dhyan: Thanks for your reply. I have never ventured into tax liens and notes. I have a Traditional IRA with over $100K cash that I need to purchase a Flip House with. I wouldn't mind doing a joint venture on apartments, but I will have to begin taking distributions from my IRA in 5 years, so I can't hold property in it past then.

I am a Licensed Realtor and Notary Public residing in Grandover Resort in Greensboro, North Carolina. I utilize my real estate license to Buy & Hold as well as Flip Homes and Commercial Property through my LLC and IRAs. Having my division eliminated by a Pharmaceutical Company in 2013, and being 65 years of age, I am using my Real Estate investments, knowledge and past experiences to support my family (wife, 2 daughters in High School & 1 daughter a Freshman at UNC Chapel Hill). My present holdings in my LLC are: Raleigh Court Mobile Home Park, Daniels, WV; Commercial Vacant Lot, Huntington, WV; U.S. Post Office, Sharples, WV; Vacation Condos at Snowshoe, WV & Myrtle Beach, SC; Rental Properties in Mocksville and Clemmons, NC and then there are holdings in my IRAs as well. I love real estate, and it saved me from Bankruptcy when my six figure job was eliminated.