All Forum Posts by: Ashley W.

Thanks @Carl Fischer and @Mark Nolan!

Wow, thanks for all your input guys! I currently have a Roth IRA that is quite risk averse (mutual funds) and I was hoping to find something I can invest with. I like the idea of a self-directed IRA but will definitely need to sit down with a professional to really understand how it works.

I also like the idea of my ROTH being tax free when I do access it later on in life. I will call on the mentioned names in this thread and set up meetings to discuss in dept. 

Thanks again for all your help!

First of all take a step back and BREATHE. It's not the end of the world. You don't want to end up making an emotionally charged financial decision that could end up with a negative outcome.

• I would first make a list of all my expenses and try to cut out what I don't need. 
• If you're not living rent free, I would find a way to temporarily get into one of my properties, or stay with friends/family till you get on your feet.
• Use this as the motivation you need to get out there and find another job. Maybe it would work out if you found one in real estate.

These are all small suggestions, but the main point is to take a step back and look at the bigger picture before jumping to pay the irs $35K in taxes.

Thanks for the thorough response Charles. This particular property doesn't work for me as I am not looking to do a heavy rehab no matter the price. I will keep my eye on it though and see who ends up buying it.

It's all head games to see where you are. I would keep interviewing with different banks until you find the right fit

As long as it's a REAL bank and all terms are written down on paper (and looked over by your attorney), I don't see why not. He's probably eager because he doesn't get too many ALL CASH investors in his door.

Is this a portfolio lender?

Also, most lenders go with a 2-year tax return so you probably should look into that as well

Try going to a real estate investor meeting in your area, or public court house auctions. There are plenty of cash investors there.