All Forum Posts by: James Otto

If I roll over a 401k from an old job into a self directed IRA,

Can I take 20K from the IRA and use it as a down payment on a property?

The property will cash flow about 200 per month. Is this cash mine to do as I please? Or does that go back into the IRA?

If I sell the property do all the profits go back to the IRA or just the initial 20k?

Does all maintance, taxes and insurance on the property have to come from my IRA?

I want to do some direct mail advertising.

What branch of state and loal the government would have all housing info? Anything from, abandoned homes, to people behind on taxes?

Your right, but it just felt easier to make low ball offers on residential side.

Well, I'm hoping to keep from having our pants pulled down. We made low low ball offers in the DC area on row houses and a few have been accepted, we rehabed and rented out with cash flow. We want to get in to commerical, but the big price tags is making it hard for us to even make offers. Guess we are just scared.

Our lender approved us after seeing the the schedule e and other forms.

So in the Pro-Forma would I blow up planned costs and expenses?

My wife and I were going to invest in a coastal town, but we figured that insurance cost would be sky high.

I'm not sure if this is true maybe someone can answer for this as well.

My wife and I want to make an offer on a 32 unit apartment complex. The price is 2.8 mil. I've run the numbers over and over again and the most we would want to offer and still cash flow is 2.3 mil. The owner is going to take back 20% for 2 years. Would it be crazy or insulting to offer 1.9 on the property and do the dealing from there?

I have a deal that I'm about to pull the trigger on and go with. Its an older couple that want to retire, they will take back 20% of the loan, I've done the numbers over and over and it cash flows after debt about 6K.

Are mobile home parks stable?

Do you guys have any good contacts for property managers? And who to stay away from?

Looking in MD and DC
and
AZ Tuscon surrounding areas.

Thanks

The commerical agent that my wife and I are working with is a real SOB. We have been trying to get the numbers for his listing for over a week. So finally he sends me an email, and leaves out a detailed expense report. I need these numbers to make sure I want to make an offer, plus my bank needs them to give me a letter that he requested so I can see the property. I would figure that since we went directly to him he would be more then willing to help us so he can get both sides of the commision.

Another deal that we are looking at: We have been asking the agent to send us the packet on her listing for over 2 weeks. We call her every other day and she always promises to email them that night and we never get them. Are all commerical agents like this?