All Forum Posts by: George Vigil

I found a property that I am interested in purchasing that is FSBO. If a buyer agent is involved, what is the typical commission?

I am considering making the purchase through an attorney and negotiate a cost reduction that is slightly lower than the commission amount that would be paid to a buyer agent.

Any thoughts or negatives with the approach?

I am closing in a 50/50 Partner deal at the end of the November on a all cash deal. My question is:

Will both partners get a deed?

@Brian Eastman In that case, I can have the attorney do one and then I can leverage that model for subsequent based on state guidelines. I have created a LLC in the past for my IT Consulting practice, so I do have experience setting up non-SD IRA linked LLC's.

Again, thank you for you responses and insight.

@Brian Eastman thanks for confirming. I initially set up my LLC as a "Holdings" LLC linked to my IRA in anticipation I would own sub-LLC's with properties within and outside of Colorado.

The initial cost to for the LLC was around $900. I was wanting to avoid that cost for subsequent Sub- LLC's ,if possible and leverage Legal Zoom to create the sub- LLC entities by property and state.

What are your thoughts?

@Brian Eastman

Thank you for your response. I do have a follow up question. Can a Checkbook LLC own another non-checkbook LLC's?

What is the best way to structure a Joint Venture/ 2-Member Partnership LLC owned by a SDIRA?

Context:

My SD IRA is parterning with a sole proprietor - Real Estate Broker on a single cash deal in Colorado. I do plan to invest in properties in TX and FL with separate partners which will leverage LLC's.

Thank you in advance for your insight.

NOTE: Submitted first SD IRA investment property offer and it was accepted for $30K under asking price on 2019 4/3 SFH.

Monthly cash flow @ $ 2700/ mo and 8% appreciation market.

@George Vigil After considering the feedback from this post, I think I will ask for the option to “Seller Finance” when we sell 5 years down the road that way I can generate cash flow on the back end of the deal.

@Kathy Henley Thank you Kathy.

@Will Gaston Makes sense.

Thank you

@Michael Noto What if I find the property and he closes the deal?