All Forum Posts by: Sherri Southwell

Welcome!  

Beautiful!   Who said you can't be successful on your first flip???? Congrats now rinse and repeat!

Thanks Brian!

Thanks for your input Dmitriy. I spoke with my IRA advisor yesterday and he laid out the structure so it protects my IRA $. My role would be that of a money partner. I would collect interest as well as a backend % of profit rolled back into my IRA for another deal. The plan is to fix n flip, lather rinse, repeat. We meet with an RE atty tomorrow to set up the contract. Wish me luck!

I need some help structuring a deal with my SD IRA. I am partnering with an experienced rehabber on a fix n flip. I will be more of a money partner and he will oversee the rehab. He already has the property under contract and will be closing under his business name. I will come in as partner after the fact and we will be meeting with a RE atty to write up the contract. I am currently in the works to create two LLCs, one for flips and one for buy n holds. Do I need one for flips inside of my IRA and one outside of it? We discussed a 50/50 split but that would tie up all the money in my IRA so I may suggest we go with a 55/45 or even a 60/40 split so I have some working $ in my acct. I would love to hear from investors who have experience with this scenario and can make some good suggestions so I do this right. Thanks!

I just moved from the Tampa market to Lakeland. Check out Flip Savage on FB. Jason Gaston, who runs the Seffner REIA, just started this one last month. Packed house this past Monday. Good mix of investors, new and seasoned alike.

Live and learn.  Lessons we should all pay attention to.  

Welcome to BP.  I am interested in probate homes in my own state but hope to branch out at some point.  

Welcome to BP!  

Welcome to BP!