All Forum Posts by: James Sebastian

I'm sticking with Rocket Dollar after watching their video.  Currently have the solera checking acct and a money market savings account at another bank for ACH, higher yield for my "dry powder".  Hoping the new arrangement will allow me to combine these at a single bank

I'm about 3 years in to SDIRA investing thru RocketDollar.com (I got a discount for a micro-investment because they were starting at the same time). I have a "checkbook IRA-LLC" and partnered with someone who does the work, I brought the start-up cash and some advice. We have several properties and are slowly adding. DM me for a $50 discount code if you want to go with Rocket Dollar.

Make sure you learn all the rules about leverage/UBIT taxes, not self-dealing, etc.

Just to pile on- my SDIRA is part owner of another LLC that holds a number of properties (My contribution was capital, partner is putting in a lot of sweat equity) Finding a nonrecourse lender that would work with a part-SDIRA entity was challenging. I was going to post who we used for you but their website is not responding... This does not look good for the future.

If your money guy would be happy with it, keeping it simple means the two of you doing operations to form the entity (LLC unless a reason to be more complex) and have him simply loan you the money and not have equity. Of course, that also spreads the risk and rewards differently. Otherwise, be sure to write up whatever you agree on and track each partner's "capital account" which will be heavily weighted to the investor initially.

My situation is kind of similar: My SDIRA/LLC is a partner with another LLC to form a partnership LLC that owns/repairs/rents property. We had a real challenge finding a non-recourse lender who would deal with us because of the IRA/non-IRA blend. Small (~$100k) loan value also didn't help.

Just wanted to reinforce one of Dmitriy's posts. My SDIRA is partnered with a non-IRA LLC (he does the work so I can stay arm's length). It was a real challenge to track down a lender to do non-recourse with the non-IRA partner involved.

Nothing against any of these strategies, but don't forget that sometimes paying tax is a good thing.  It means you made money.  If the primary goal was not paying taxes, the solution is to reduce rents!

Thanks for the replies!

Sounds like MTR on AirBNB is a reasonable shot. It's furnished, but I'm a couple hours away so I don't want to get into regular cleaning, linens, etc. like an STR would require.

I have a house currently renting to students, it will be empty for June and July only.  Current tenants are looking for people interested in summer seesion only, but no leads yet.  Good neighborhood a few miles from college and hospital. I'm looking for any advice- should I try Furnished Finder for just a 60-day window?  Just let it sit?  Not trying to make bank here, but if someone could cover some of the expenses and be there to watch the place that would be good.  Location is Terre Haute, IN.

Find a business with one of those "posted- no parking- you will be towed to...." and contact the tow company.  To get rid of a vehicle abandoned on my property (Ohio), I had to buy one of their signs, wait 24 hours, then they came and picked it up (and I presumed sold/scrapped it after trying to contact the owner).  Luck.