All Forum Posts by: Account Closed

My 401K contributions allowed me to retire at 55 but when I started working at 21 we got bonuses to work our butts off, we didn't get bonuses to sit at home and not work. Times have changed a lot since 1982...... You should definitely contribute up to the employer match though. 

@Tim Woolery Working with city inspectors was our biggest challenge. Each one has their own opinion and they don’t necessarily agree with code. But it was totally worth it in the end.

@Alan Johnson Thanks Alan, I am working with my CPA to figure out the best course of action. I appreciate you bringing this topic up. One way or the other my family will be just fine. 

Sure would be nice to hear from some of the SDIRA guru's that are on this site. It would be terrible to have to liquidate my SDIRA LLC that owns rental properties by the end of 2023. Contrary to what some believe, investing in real estate inside your SDIRA can be very profitable if you have bought properties in the right places around the US.

@Jennifer Petrillo Our kids bought a place in San Marcos early this year. It was a real pain for them to get an appraisal because every appraiser was so swamped. It ended up taking two or three months to finally get the appraisal but they only had to pay $500 for the appraisal. That is the same price that we pay for appraisals here in New Braunfels just 20 minutes south of San Marcos. $2,400 is flat out ridiculous.

@Rudy Hayden Call Jason Zook at NASB. They do non-recourse loans for SDIRA's. The loan amount will be based on the DSCR of the house though.

@Bruce Lynn @Andrew Postell Thanks for the replies guys. I'm ok with holding them, the first one rented within 4 days after the rehab for $1,725/month and the second one should rent just as fast when we finish the rehab. I think my sheriff sale days are over anyways because of the lunatics that are showing up on the courthouse steps this year. People are paying way to much for properties. I'm talking .14 acre lot in the ghetto with nothing on it for $115,000. I think I got the last two good deals in 2020 before the real estate madness really started.

I bought two single family properties in 2020 at the sheriff sale in Guadalupe county. Neither were homestead so they fell under the 180 day rights of redemption period. The problem I ran into is that I can't find a title company that will give me clear title until two full years are up. This is not a big deal for me because I'm keeping them as long term rentals but it is frustrating because if I wanted to sell them before the two years are up I would have to discount the price because of no clear title. The title companies are afraid that "someone that is a potential heir might show up and say they weren't notified of the sheriff sale". Just wanted to share this in case you think you can buy something at a Texas sheriff sale and get title after the 180 day rights of redemption period is over. 

@Keith A. My step-son's girlfriend got a call last week from someone trying to buy one of my rental properties! How in the world did they get her phone number? She doesn't live with us, my rental properties are in my business name, it makes you wonder what kind of information is being shared from our smart devices......

@Artur A. Here are a couple of links regarding Seguin that you should read. https://www.biggerpockets.com/...    https://www.biggerpockets.com/... Best of luck!