All Forum Posts by: Matt Everling

@Brian Eastman Thanks Brian!

@Daniel Dietz Thanks again Daniel, and best of luck in your new deal. With all of the help I have received on this post from @Brian Eastman, I believe I will take your advice and start with researching his company and your POC. Thanks again!

@Brian Eastman Thanks Brian! So like @Daniel Dietz eluded to, is it true that once a person reaches 59.5 years old, that cash flow in a REI owned by a self directed ROTH IRA is tax free?

@Daniel Dietz Thanks again Daniel. I will start researching reputable SDIRA custodians. Any recommendations?

@Daniel Dietz Thanks Daniel! So in your experience have you found that if using a Self Directed Roth IRA, the cash flow is also tax free? If so, then I am going to go that route. That's an amazing way to retire.

@Brian Eastman So is it true that to finance an investment property using a SDIRA, that a bank will not lend more than 70% LTV? I have to put 30% down?

I have been a City Planner in the public and private sectors since 1994. Most City's Zoning Ordinances (Usually Title 17 of the Muni Code) will specify minimum unit sizes for R-2 lots. Check with the Planning Dept. on the lot area per unit (density)and minimum unit size. Ask them for the maximum density (number of units) you can build on your lot given the lot size. Forget about a variance. You have the right to apply, but there are 3 "findings" required under CA State law to justify a variance. If your project doesn't meet just one of the 3 findings, then the Zoning Administrator must deny the application. A variance has to do with the land itself, something physically inherent with the property that you have no control over, like lot size, shape or topography. Rezoning the property from R2 to R1 is called "downzoning". While downzoning a property does lead to lesser impacts on a neighborhood (less cars, traffic, noise, etc.) given the lack of affordable housing in LA, I would speculate that the Planning Dept. would recommend denial because your proposal would actually result in the removal of affordable housing, and that would violate the goals and policies of their adopted Housing Element. In addition, CA State law requires that all applications must be reviewed by the highest authority, meaning that the even though a variance is typically reviewed by either a Zoning Administrator, he/she can bump it up to the Planning Commission. However, a rezoning application must first be reviewed by the Planning Commission, and then on to the City Council, who has the final authority. Clear as mud, no? I've made a career out of helping people do this. Let me know if I can help you more.

@Jay Hinrichs Thanks Jay. You know I have to say that I have seen you in a lot of different places in the discussion arena and I really value your insight and advice.

@John Corey Thanks John! I will make sure to ask those important questions to my POC at Navy Federal.

@Jay Hinrichs Thanks for your comment Jay. Sorry for the dumb question, but what is a lending footprint?