All Forum Posts by: George Sass

My best advice then is tread lightly. As I said in my previous post, I am not a SDIRA expert. If the experts are telling you that it is okay and you are comfortable with that, then move ahead with the transaction. I personally would feel real uneasy about the whole transaction and I wouldn't want to risk losing a good chunk of change. I am not a customer of Equity. If they advise you one way or another and this gets challenged, do they stand by their advise and back you or are you on your own? 

I am not a SDIRA expert but I do invest using one. It sounds to me like an indirect benefit which is not permitted. Here is a link to an Equity trust web page. Look at the paragraph for indirect benefit. I know Equity is highly trusted and reputable. Maybe you were talking to a new person there or you really didn't explain it clearly to them. 

https://www.trustetc.com/self-directed-ira/rules 

I'm quite familiar with Keller. I have actually read Flip, Hold, and The Millionaire Real Estate Investor. There is a location right outside the city that I am interested in. The main broker in the office used to run my local REIA group. They are known as an investor friendly brokerage. If they come up on my list for top sellers in the area, I will definitely give them some weight.

sorry. Which agency?

What I am looking for is the high volume sales agents. As I am interviewing them, I will find out if they are willing to work with investors or not. Start at the top of the list and work my way down until I find the one willing to work with me. I want the high volume agent because they are going to know the city the best and receive the most leads. If I go to the agent that is already working with investors, I'm not going to be getting that great of leads, their investors they already have a working relationship will. If you don't mind me asking @Brett Chaponot

I am trying to identify the top real estate agents in a city and I can't find out how to tell what agents have sold the most in a city. Any suggestions? I imagine I can find this information on the mls but I am not an agent. I can't really get another agent to look it up since that is the team member I am trying to identify. Any input would be appreciated. 

I'm not sure if I need to include the back story or not so I'm going to. Hopefully this doesn't detract from what I am actually looking for. I had two tenants starting last November on a  year long lease. They were a couple and then they broke up about 3 months ago. Luckily for me, it was cordial and they finished out the lease with him sleeping in another room. The down part for me was that they were late every month with the rent but always came through and included the late fee without a problem. Now that it is time for the lease to be up, the woman wants to still live there but with her new boyfriend. She can't pay the rent by herself so it is a fairly uncertain situation especially with them being late every month previously. She did take care of the house though so I want to extend the lease for her. To hedge my bet, I want to switch from a year long lease to a monthly lease. Any advise or recommendations as to what I should put in my lease to make it a good month to month lease? Thank you in advance.  

Thank you @Jon Holdman, I'll try to keep you posted on how this goes. 

I have an opportunity to buy 8 houses in a single deal as buy and hold investments. My thoughts are to get a loan from a bank to cover the majority, if not all of, the purchase. Anything they won't cover, I want to use a private lender to cover the difference. My question is, does anyone know of a loan type that would cover this type of purchase? The purchase price for the houses is 240k and they are worth approximately 350k. All of the houses currently have tenants in place. Any advice would help. Let me know if you need more information.  

I have a new rental property and my insurance agent is asking me if I want replacement value on my rental house or market value. My house is worth approx. 50k but replacement cost would be between 80 - 100k. Any advice?