All Forum Posts by: Nick Mcroberts

 It would be one thing to advise someone on a topic and then it would be a completely different thing to give advice.......if you're going to chastise someone for asking a legitimate question at least run spell check before you give your enlightening response. 

@Dmitriy Fomichenko that’s good news and thanks for the referenced financial institution’s!

@Ashish Acharya can anything be done with the equity gained in the properties that the IRA owns? For example can it use the equity to make improvements or purchase other properties?

@Ashish Acharya obviously not the answer I was hoping for but thanks for such a detailed response, I really appreciate it!

Good morning everyone! So I'm thinking of leaving federal service and moving what I have in TSP into a self directed IRA in order to purchase some rentals. I understand that all the income generated by that property needs to go back into my IRA but in the future I'm going to want it to replace my W2 income. To do that would I be able to sell the properties to myself since they're technically owned by the IRA or if not what would that transaction look like?

Thanks very much!

Hello everyone! So I’ve found a duplex to house hack, however I’m not going to be able to qualify for the loan based on my w2 income. Would I be able to use the hypothetical rent from the other side to secure the loan?

Thanks!

@Brad Hammond I may not have been totally clear in my post so I apologize. This would be without currently owning any property to take out a HELOC against. In other words both mortgages would be against the same investment property.

Hey everyone! So please forgive me I’m a newb but was wondering if it’s possible to use a second mortgage to pay for the down payment of the first? Assuming that there’s built in equity off course. I thought I heard in a BP podcast (can’t remember the episode), but someone used a second position to put down on the first. Is this possible or did I dream up this podcast?

@Jaysen Medhurst

Hey thanks for the response! This would be my very first investment so some figures were ballpark’d and plus I haven’t been able to look at it yet with everything that’s been going on in the world. The bathrooms I would expect to be completely gutted..they look pretty dingy and old. As for the comps within the block similar homes range from $65000-$85000 and honestly this one would be right up there within the top end by the time it’s completed.

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*This link comes directly from our calculators, based on information input by the member who posted.

This just came on the market..Let me know what you all think!!