All Forum Posts by: Larry Flanagan

Looking to roll an old employer 401k to a self-directed vehicle and need a custodian. I use Strata Trust for my IRA but they dont do 401k's. I want to use it to buy some rentals. My CPA just told me the 401k can obtain loans (non-recourse) so this seems to be a no-brainer.

I have a large double-close flip coming up end of April and will require $500k or so for a day.  Any recommendations of lenders for this?

I have $500,000 on hand which will cover 24 months of my investment property expenses.  However I have to ask myself how many months would I be willing to pay mortgages if tenants are quarantined and there is no rent coming in...

If i am selling a house every month or two should I be negotiating a discounted commission?  I'm having to pay up for deals on the front end so it seems like the realtors are making as much as me on flips.  I dont think there is any way or reason to get around the 3% to the buyers agent but a lower flat fee on the listing side seems more realistic for their time & effort.

I have no interest in taking it to court, I'm only hoping some would fail to respond.  None have expressed any interest in discounting for settlement.

I bought a house last year subject to eight of the sellers judgments totaling about $30,000.  One of the judgments has since expired but the rest wont drop off for several years.  Should I hire a lawyer to perform a quiet title to try to get some of these wiped out?  I assume at least a few would not respond.  Is there anything that could come back to bite me - any good reason not to try it?

No.  What does that have to do with anything?

I am selling a house, it is pending for the second time.  The first buyer had the roof inspected and reported hail damage which I turned into my insurance.  Insurance co confirmed damage and wrote me a check to replace roof cover - which I have not yet done.  Subsequently, that sale fell apart for another reason.  House went back on market and is now pending again.  New buyer performed inspections and did not report any issues with roof.  I am sitting on this large check for a new roof, what is my responsibility to this buyer & my insurance company?

I have a very successful real estate investment company in the Midwest. I wholesale a lot of properties to local landlords & rehabbers and I also keep some rentals for myself. I am connected with a good property management company that handles the make-readies and tenant issues for my rentals. I have thought about offering turn-key products but I'm not in a rustbelt town with double-digit cap rates. Most of my rentals generate limited cash flow but significant gains are realized at resale from buying at a discount. Is there turn-key investor demand for higher quality properties? What sort of cap and/or IRR is expected?

It already sold at tax sale. Redemption rights expire in 2 weeks.