All Forum Posts by: Patrick Shawn Faherty

@Dmitriy Fomichenko Update. SNB has been amazing to work with. I applied on my phone via an app. They have emailed and called to give me updates. I'm wiring funds from IRA Services today. Thanks for the recommendation!

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@Elena Casey consider running the numbers at the higher rate.

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Originally posted by @Nathan Nance:

@Patrick Shawn Faherty capital. i went back to school and started over. i graduated with $800 in my account but debt free. i had to save up. i bought a house sold it and then had some capital. ready to get going on house number 2!

Well done sir. Debt free out of college is huge. I need to move on as well. I've had one rental for ~3 years now and am a bit stuck on where to go next.

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@Nathan Nance Congratulations. What was the primary delay in not buying over the past x years and what changed?

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@Elena Casey exactly what I was thinking on the Management fee. Also, that interest rate is the HELOC? is it fixed or moves with Prime?

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@Dmitriy Fomichenko thanks. I’ll check them out.

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Originally posted by @Dmitriy Fomichenko:

@Ed Grogan

If you have custodial SDIRA - your IRA account must be held by this custodian.

If you are referring to Checkbook IRA (or IRA owned LLC it is often referred to) then you can open an account for the LLC that your IRA owns at any bank or financial institution. This would be business checking account for the LLC, not the IRA account.

Here is a list of lenders who provide non-recourse loans to retirement accounts:

https://www.biggerpockets.com/...

@Dmitriy, Hi, I'm looking to find a new bank as the Credit Union my IRA LLC uses requires me to have the wire request notarized if the amount exceeds $25k, and it is a bit of a PITA. Does anyone know if any online banks can host this type of account (without the notary requirement)? I use Ally Bank for a personal account and may reach out to them. TIA.

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Originally posted by @Raj G.:

To be fair and from what I understand, Maverick has now stopped promoting ABC.

I hope that is true. It certainly took a while (and lots of horror stories...). Thanks for the update.

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All Forum Posts by: Patrick Shawn Faherty

Patrick Shawn Faherty has started 3 posts and replied 182 times.

Post: Should I sell my rental?

Post: SDIRA Friendly banks

Post: URGENT ANALYSIS HELP!!!

Post: After 8 years of looking for an investment property.......

Post: After 8 years of looking for an investment property.......

Post: URGENT ANALYSIS HELP!!!

Post: SDIRA Friendly banks

Post: SDIRA Friendly banks

Post: SDIRA Friendly banks

Post: Has anyone worked with Maverick Investor group?