All Forum Posts by: Jamie Dietz

Are you looking for company to manage this property or a person to hire directly as part of your team?  Also, what area of town is the property located?  

I suggest you get a hard money loan on the free and clear rental.  Then use those funds for the rehab of the other property.   We have done this multiple times as long as both properties are rentals it shouldn't be no problem.   

I have seen many other with the same questions.   It's not hard to set up SDIRA and its a great platform for investing your retirement funds.  However, finding the right investment options is the hard part.  My suggestion is stick with what you know.   Buy rentals if you have done that before or use funds to provide private loans if you have fix/flipped properties in the past.  If you don't have experience, then focus you efforts on finding a sponsor or partner with experience and consistent deal flow.  

Did I read that correctly your properties are in Pittsburgh area? If so, I can defiantly help.  Its possible we can cross collateralize existing assets to buy new properties.  We do that all the time.  Feel free to reach out.  

Feel free to reach out and we can chat about private lending.

That seem like a very low for a furnished rental.   I would not offer furnished rentals in lower income areas.  I think that strategy works best in higher areas or mid term rentals near major employers.  

In addition to finding a spot to park you money between loans you may just need more deal flow?  Are you just working with a small set of report borrowers?   I find new lending opportunities by networking at local RE Meetups, Training Classes and real estate functions.   

Lots of good responses and opinions.  I think the most important thing to consider is risk.  I don't care if I earn a 1%-3% more if the risk significantly greater.  The goal of passive income is grow wealth with minimum risk not to maximize your return.   Otherwise, you should be more active and flip homes or develop ground up which is far from passive. 

In response to your original question, closing agents should handle private loans just like a bank loan. We fund multiple private loans each much and they are run through title/closing exactly the same. The loan is listed on the HUD and they provide lender's title insurance. The only difference is the source of the funds. Hope that helps?

We provide private lending for fix & flips or fix & rent projects jn Pittsburgh if that is something you need?