All Forum Posts by: Kevin Greene

@Kevin Moen: Thanks, notes do sound like a good option. I've looked into notes but it seems difficult to find them. How do you find notes? Any advice for choosing a good one?

@Lester Adams I think so too. Thank you for your advice! Right now I have my IRA with an advisor who is managing it for me, but I am going to start looking for a self directed custodian. If anyone has experience with one, feel free to let me know.

Thanks guys! I've though about hard money lending. It seems like a relatively passive way to make a good return while working my full-time job. I just reached out to a local HML for advice so hopefully he gets back to me.

@Chris Eaker, @David Short: What are some of the things the hard money lenders you use look for? A certain LTV%, repayment period, or points (just to name a few)?

Hello BP,

A little backstory:

I have decent amount of money sitting in an Inherited IRA. Not 100k but if I let it sit for a few years it might appreciate. The money is invested in mutual funds at the moment. Since it is a non-spousal inherited IRA, I have to take yearly minimum required distributions (MRDs) until the account is depleted. If I don't do that, the whole thing needs to be liquidated in five years.

I've pretty indecisive about what to do. First decision would be to keep it in the IRA or liquidate it. Keeping it in the IRA will defer taxes, but I would have to keep liquid cash reserves in order to make the MRDs. The rules for investing in RE inside of an IRA seem quite thorny and I'm not sure I want to deal with that complexity. Also I wouldn't be able to enjoy the income aside from the MRDs.

On the other hand, I could liquidate the account and start using that money to get started in real estate. There would be a big up front tax expense, but perhaps that could be offset somehow? 

Third option, I guess, would be to pretend this money doesn't exist for a while and try to make it on my own. I don't have much liquid cash at the moment but I make a good wage and have 0 debt.

Even after deciding to keep or liquidate the IRA, I am not quite sure how I'd invest the money. As we all know there are so many ways to invest in RE and I have not quite settled on one yet. I do think I'm experiencing analysis paralysis.

As you can see I am quite scatter-brained and there are a thousand ideas floating around in my head. Please let me know your thoughts. I am hoping some other opinions will help bring me some clarity.

Welcome to BP!

Also I wonder is it possible to get someone who works at the bank to tell me what is up with the property? I actually submitted something on Suntrust's site asking about it. We'll see if they get back to me...

No, there was no listing as far as I can tell. My realtor sets me up on automated MLS searches for certain criteria (zip code, bedrooms, etc). I get e-mail when properties matching those criteria come up for sale. I was thinking maybe they could do the same thing for a specific, off market property, so I would know immediately when it came up for sale.

@Austin Hughes

I don't see an option to save or favorite an 'Off Market' property on Realtor.com. However, I was able to do it on Zillow so at least I'll get something if there is a listing.

@Austin Hughes Good idea- I will do that. Thanks!

@Aaron Miley I hear you. I am going to set up some kind of process to watch these properties. I wonder if a realtor could set up a specific MLS search for each property to notify me of any status changes? For now I am just going to add them to my leads in Podio with a reminder to check up periodically.