All Forum Posts by: Joshua Hilliard

I like the visual. It lets you know at a glance if you are on track. Good job! Any updates? 

That's a good question. We have the correct windows in place and are not using a stove or oven. We were planning on getting the certificate of occupancy too but if they won't give it then that changes things... I never thought of that. Thank you.

Hey Lisa, I think I know the area you are talking about and I agree with everyone else that says you should stay where you are!!! Don't sell. I was looking in that area and I do believe that it has a huge upside! I would love to be in your position. Between military bases and government employees your rental market is huge! Also, if someone is trying to buy from you even though your property is not for sale then they are trying to get an off market deal which means they don't want it on the Market. Your place is worth way more than they are offering. If you are tired of the tenants then get new tenants! It's your property. You control who lives there. Or at the very least hire a property manager. Let them be the bad guys. Bottom line is don't sell just as the market is going up. And also don't sell until you have another deal. You don't want to lose your profits to taxes of let the cash burn a hole in your pockets!

Looking for any good management companies in the DC/College Park MD area. I have a rental that I will be putting on the Market in March as soon as I finish renovations. There is a basement rental that is possible along with the main house. We are trying to determine if we should rent the whole house with the basement and all and avoid utilities or we should break it up into two rentals, pay the utilities and make more in gross rent. I will be moving out of the area in the summer so I am planning on using management. Can anyone suggest a company to me?

Originally posted by @George Blower:

@Joshua Hilliard

Is your intent to grow the retirement account, or are you looking to also personally take some of the profits?

Hi George, 

I'm already receiving a nice pension so I'm not that overly concerned about the IRA at this point. I was in the market for another property and see this IRA drastically underperforming that just earned 20% this last year. I want out of the stock market. For some one that needs the Roth IRA I would understand keeping it. For me I'm just looking for performing assets and this thing is not cutting it right now. I just want it to work harder or I'm going to kill it. Looking for alternatives.

Dmitriy, actually I did see something that I thought would work. I was intrigued by investing in notes with the IRA but when I began researching it the companies I looked at only allowed accredited investors. Do you know of any companies that allow an IRA to invest in notes where the owner is not accredited?

Thank you guys for the posts. I was told I don't qualify for a solo 401k so I guess that's a moot point. The restrictions I was talking about that unless I am using it to buy a property outright then it's hard to get a non recourse loan from a bank and I can't partner with the Roth IRA because that's not allowed. Then on top of that I'd have to do all the leg work on the property but I get none of the immediate benefits. And on top of everything else the company I was talking to charges a lot of fees for all transactions, holdings, and even cancellation. It just seems like a bad deal to me. Maybe some one can explain it better to me in a way that makes sense because right now I am just not getting it.

Hello @Michael Peralta!

I'm currently doing the same thing but coming from the DC area. I'm currently looking in Middlesex County near Rutgers. My research up to this point says live near a train station for NYC communters and live near New Brunswick for the student rental pool. Watch out for fload zones too. I'm using @Marsha Gordon as a real estate agent that is helping me look. I imagine if you are looking closer to the city this info might not be helpful but if so, I hope it helps. Good luck and happy hunting!

Josh

Welcome @Vlad S.! This is a great site that I'm sure you will get a lot out of! I'm working full time but soon will be going to school full time and still trying to balance real estate investing! I know how you feel! Just take little bites and move forward step by step! Good Luck!!!

PLEASE HELP!!!

I have a Roth IRA that has underperformed for years and I'm ready to be done with it. It did great in the last year so I'm looking to move it into something more productive. I heard a podcast on investing with a self directed IRA but the more I looked into it, it looked incredibly restrictive. I'm already retired military and have a pension and medical so I'm not overly worried about my real retirement and the Roth was mostly an afterthought. Now I want to increase my passive cashflow and want to do it through real estate. Bottom line is I want to use the funds in the IRA for a down payment on a multifamily in New Jersey where I'm moving next summer.

When I have mentioned this to investors they told me to stay away from Self Directed IRAs. I was told that solo 401ks are better. I'm a W2 wage earner currently so it's my understanding that I can't use a solo 401k right now. Because both of those are not good options then I could liquidate and pay the penalty or I could just leave it alone and come up with another strategy. All my wife and my free cash is going to pay off some home repairs on our current house to make it rentable when we leave so saving is not an option at this time. 

I really want to cash out but I'm looking for any sane and logical reasons why I shouldn't. Thank you.

Josh