All Forum Posts by: James Maher

I have tenants in a rental property and their lease ends in February.  I probably should have gotten on the ball earlier, but oh well.  I want to sell this property, not because it's not doing well, but it's just really kinda too big and nice for a rental, and the equity in it can be more efficient in a different price point.

Anyways, does anyone have experience selling a house with tenants in place, to a new homeowner?  Due to the price I doubt any investors will be buying it, so whoever buys it will owner occupy.  I don't really want to just kick them out at the end of their lease, and then be stuck paying the mortgage each month.

I love the BRRRR approach, but have not pulled the trigger yet. I have found a house in my area that needs some work, and the owner is willing to carry a mortgage. Just wondering if anyone has had any success using the BRRRR strategy, except instead of buying (B) they financed (F), specifically owner financed. Obviously it would be harder to get a bank to finance it initially if it needed a lot of work, that's why I think I can make this work since he is willing to carry the note.

@Brian Eastman 

I agree with what you are saying, but my current investment plan is to increase my portfolio rapidly.  An analysis that I have yet to run is the amount of taxes I would owe each year if it was held outside of the Roth.  Since it's performing very well, it may end up causing a high tax bill at the end of the year since I will for sure be in the black on this deal, especially since it is owned free and clear.

I purchased a house in February in my SDIRA(Roth) and after really running the numbers I now see that having a rental property in a SDIRA isn't really the best deal.  Basically taking a very tax friendly investment and putting it into a tax free account.  Anyways, this house is doing VERY WELL.  Rental income is 2.4% of the purchase price which is pretty high for my area.  In hindsight, I would have pulled the money from my Roth since all contributions can be taken out penalty free, and bought the house free and clear OUTSIDE of the SDIRA.  My current goals mean I need more money now than when I'm 59 1/2 to build my portfolio.

My question is, and I'm afraid it's NO, are there any creative ways for me to get the house out of the SDIRA?  Not looking for shady practice answers, just wondering if there are legal ways to do this.  I know that I can't just simply sell the house from the SDIRA to myself.

I'm still battling this issue.  The bill is still almost $400, despite the weather being very mild.  In fact, I would be surprised if the heat at my personal residence was on for more than about 15-20 hrs the entire month... but I know tenants are different.  Prior to this month, I checked the hot water heater and someone had 1 element turned up to 150 and the other turned down to 90, so I fixed that, hoping it was part of the problem but it didn't seem to be.  I guess I'm going to have an electrician check every circuit, something funny is going on for sure.

Thanks guys.  This is a digital meter and reads in kWh so it would be impossible to turn stuff on and off to see how fast it's counting.  Actually, I was an engineering intern at the company who made this specific meter and worked on it there... so that's cool I guess.

The previous bills were from the same tenant, and she has been there about 8 months I guess.  I have someone going to the house to inspect the ductwork as that's what the HVAC guy suggested.

What kind of company would I call about inspecting the ducts?  The HVAC guy that came out (who I have used in the past for A/C work, and he did a great job) said it would be too costly for him to go under and inspect it.  I assume maybe he was just slammed busy, because it took 2 weeks to get him out to the property the first time.

Thanks for the replies.  It's really just one person living in a small 3 BR house.  Power bill was double in January what it was in December.  Tenant pays the utility bill so of course I want to get someone out there ASAP so that she's not stuck with that burden.

My tenant let me know last month that their power bill was about double what it had been.  Since it was really cold, I wasn't concerned too much about it, but still had an HVAC tech go check it out.  I wanted to make sure it wasn't hung up on EMER heat.  He checked the unit and said it looked fine, and also checked the temperature coming out of the vents and said it was okay too.  He did however mention to the tenant that I should have someone look at the ducts under the house. 

Fast forward to this month, the power bill is still really high.  Could there be something else going on other than the HVAC that I should look at?  Also, I'm not sure why he mentioned checking the ductwork if he thought the temperature at the vents was okay.  What kind of person would I call to check the ducts?  The crawl space is literally about 2' - 3' high, so I'm sure that won't be fun.