All Forum Posts by: Ali Brooks

@jeffrey Hayes Make sure you ask and see if this is what they were talking about with the 90 days. You can sell the property within 30 days for more than you paid as long as the buyer is using conventional financing or cash type financing. This is a flip rule that came back last year that any one purchasing with FHA cannot buy your house for more than what your paid for it within 90 days.

That should not be how it works. If he found the deal and shows it to you and you buy like the others said you should just pay a finders fees of 5% whatever is normal around you. Also if he manages he could take a management fee. I 100% agree with what everyone else is telling you. You are taking all the risk and he is not. He should not get 50%

I was always told kids are excluded in self directed IRA. You can do deals with brothers and sisters, but parents and kids cannot.

• This looks like a bad deal - add your vacancy in.
  Now if you think you can move the rents might be another story.

no - You always have to worry about your flip getting broken into. If you get bad neighbors its horrible too. 

True true - there are deals out there you just look for the hidden ones that you have dig deeper to find. Deaths, divorce, moving, retiring, and money troubles are where I have found some amazing deals.

and I would never rent to a future buyer with the stories I have heard. 

I definitely am aware of the rule - last year you could have 2 appraisals and the 90 day flip rule didn't matter.  But 2015 is different - there's many ways you could go about this. 
Each house and area is different. If you know that 90% of the people that will apply for this house in this certain area is going to be FHA you just hold your house until close to the flip date. (That is if you know its going to sell fast). If you have a house in an area where 50/50 could be conventional or FHA- id list it and just tell them cannot accept FHA loans. But what you could do is tell them about the new conventional loan that they brought back this year which is 3% down payment with conventional loan. This is less than the FHA 3.5% so Id tell them to maybe go try and apply for this loan.

just some ideas ive learned along the way

i'd personally take the $150k now and turn it in to $300k or more. Then it will snowball and in that couple of years you waited you could have made over $1 million. 
Choice is up to you !

The workshops are a scam once you get there they will tell you if you actually want to learn how to do something you have to pay $2,000 then the next will be $5,000 on an on