All Forum Posts by: Chris Elliott

 Thank you for the response. I guess my question would still be is, are the restrictions that would be put on how the money is used worth the tax benefit?

I'll set the context of my question: I am 27 yr old self-employed individual with no IRA or 401K currently in place.

I've heard self-directed IRA's explained and I can definitely see the benefit to someone who already has money in retirement account that isn't getting much of a return, and would like to tap into the money.

My question is should someone that does not have money set up in any type of retirement put that money is a self direct IRA? My tax accountant has showed me the tax advantages. Is it just a better alternative to a traditional IRA or should everyone have one?

To my agent friends . . .

For those of you that mail your database (past clients/sphere) on a monthly basis; what do you send them?

Thanks

Hoping some of my friends versed in Virginia real estate law can help me out on this one.

I've got a client I'm working with, I am representing her as an agent selling her home. She is currently married but working on filing for divorce. Her husband lives in the property but isnt paying any of the bills, and she is the only one on title. 

My client consulted with a divorce attorney today (not real estate) who told her she should change the locks when he is not at the property and put a copy of the deed in the mailbox. Said attorney told her that the police could escort her husband back into the property only to get his things. I believe she filed a vacate notice to him a month or so ago. 

I'm not versed in marital/tenant law but this seems like terrible advice. Any input from anyone that knows the law? All I can do at this point is advise her to consult a real estate attorney but she seems content with the answer she got from the divorce attorney.

I'm probably like a fair amount of people out there, in that I have no construction or building background. Only thing I hammered before getting into REI were beers in college.

Has anyone out there taken any online or local construction classes to better learn the process and the components of a house? I know my local community college offers classes but would prefer something online. And if you have, do have a program you can recommend? Thanks

This question deals more with agency than investing but I figured there's enough agents on this site to get some good feedback.

Would you go after a client that breached a buyer brokerage agreement and bought with another Realtor? I had a lady I was working with that was looking to basically gut her retirement account to buy her son and pregnant daughter in law a house. Kids didn't have any money, credit, or stable employment so she was helping out. We signed a buyer-broker contract in Sept through the end of this year. For whatever they disappeared the first week of November after I had showed them a dozen or so houses . . wouldn't return phone calls or emails. To the best of my knowledge, I was kind, professional and responsive; I figured they just gave up their search. So I check tax records this morning and low and behold they closed on a house with another broker on 12/5.

First time this has happened to me. Given the knowledge I have of their situation and it being 6 days from Christmas, it's hard to want to enforce the contract. On the other hand, I'm not crazy about someone taking $3,000 out of my pocket. Spoke to my broker and he suggested I email her just to see how she responds. What would you do?

@Daniel Harnsberger Nice tie

Welcome to the site. Just keep networking and putting one foot in front of the other.

Start learning the business while you build reserves.

 Adam

I would agree. If you're buying for $40,000-$50,000 you're either getting a screaming deal or buying in the hood.