All Forum Posts by: Oscar Perez

I wish I lived in Houston. If I lived there I would buy properties directly instead off dealing with turn key providers. There is a group I've been meaning to hook up with called Lifestyles Unlimited. Check them out and ping me to see what you think.

Sorry. I'm an IT guy. Ping just means reaching out to me. Like pinging an IP address for a reply. Damn the geek just came out of me :-)

Marco Santarelli Whenever I hear Detroit I run for the hills! Too each his own. Now for Indy, thats another story. I was just there in November and loved it!

Ack! No landlording for me. I'm glad to pay the 8% to 9% for someone else to deal with the tenants. Perhaps one day just to get the 500 hours of material participation. Investing out of state is a leap of faith. I would suggest visiting the area first to drive around and familiarize yourself with the various neighborhoods. As for people to help you out with the areas, property managers, home inspectors, insurance agents, and realtors. Its amazing the information you can get from building relationships. When visiting stay away from the big chain restaurants. Go to the local eateries and strike up conversations. Hang out at the parks, sit next to an old timer feeding the pigeons and strike up a friendly conversation. Visit a local soccer game and see the demographics. All the information is right in front of you if you get off your damn smart phones and pay attention!

Just my 2 cents...

Ali Boone also helps to ping people on BiggerPockets! Thanks Ali for the tips on Kansas City

Ned Carey I would have opted for the wine. Good advise though. I never understood the wholesaling thing. Seems like a lot of work.

It all boils down to the numbers. Its better to rent in high land value areas and buy in low ones. Lifestyle is also a consideration. If one relocates frequently due to work, why buy and be tied down to a death grip (english translation of mortgage).

Just my 2 cents.

Great marketing. I just bought your books.

Michael Campbell Last I checked Fidelity does not provide a SDIRA. Your would have to use one of the custodians like Equity Trust or Entrust. All custodians come with a hefty fee compared to the nearly free IRA accounts (Fidelity / Schwab). I've done a side by side comparison and it appears that Equity Trust has the best fees of them all.
As for cashing out and paying the taxes and the penalties, you will have to sharpen the pencil and run the numbers. Typically this makes sense if you are purchasing well below market value (a foreclosure property) and rehabbing it to gain on the equity capture and the monthly cash flows.
One thing I’ve found is that getting a non-recourse loan will be difficult if it’s a rehab property. They tend to look at the recent sales price, and not the market price after its been rehabbed. It may be easier to purchase a new construction through your SDIRA.

Just my 2 cents…

Also remember that you are paying off those low interest rate loans with inflated dollars. Inflation reduces your debt.

John A. For Memphis I've been using Saddle Creek Title. However, I had no say in it. At least I think I didn't...