All Forum Posts by: Phil G.

My understanding of an HSA is that you're only eligible if you have a high-deductible health plan.  Which is based not only on the deductible itself, but what services are subject to the deductible.  My plan doesn't qualify because various services for non-preventative care are covered (with a copay).  Also prescription plan isn't subject to the plan deductible amount.

Apparently you found a tear in the fabric of time in Texas and its still 1953..

The Rural Development multifamily programs are a whole different animal than folks are discussing here, which is the single family guarantee or direct loan programs. The multifamily guarantee program are for 5+ units of affordable housing, with rent caps based on AMI. Individual units are capped at 30% of 115% of AMI. Up to 90% LTV. There is a direct loan program for very low income and housing for the elderly and handicapped. I did a mill redevelopment with the program some years ago. I paired the RD funding with Federal historic tax credits for the equity portion of my capital stack. Between the two programs a red-tape nightmare, but made for a successful project with very little out of pocket. Sold the building a couple of years ago after the tax credits were used up.

I have $2k in the Income REIT that I invested as a test. I would like to invest more, but they've hit their investment cap for the year, so unable to invest any more this year..

You're definitely looking for a specific buyer.  You have to love antiques, be willing to deal with their eccentricities and be willing to put up with lack of some key conveniences like a garage and A/C.  The fact that it's the "Nathaniel Lawrence" house would mean nothing to me, if I'm having to dig my car out after every snow storm in winter and deal with window A/C in summer.

Sounds childish to me.

People have different interests.   You said she supports you, so do your thing.  It's your passion, not hers.  And don't forget to be supportive about whatever her passions are.

Personally, I would steer clear of this type of transaction. While disqualified parties can invest together if done properly, the real risk you run is having the IRS rule the transaction as self-dealing. Since you don't have the capital to do the deal without the IRAs to supplement your capital, your IRA is enabling you to make the transaction and personally gaining by the IRA's involvement in the transaction.

@Jason Terrell

The foreclosing institution can pass the responsibility for title V compliance to the buyer and you will be responsible for compliance AFTER conveyance.   Your lender, if they choose to fund without a Title V inspection, will typically require that you escrow sufficient funds to cover replacement of the septic system, should it fail inspection.  So you're looking at putting up some serious dough in addition to your down payment and closing costs.

@Deangelo Mack

If you're searching for FSBO listings on Zillow, you may see some buyers agents listed. Zillow is in the business of selling leads to agent, so even on FSBO listings they show some buyers agents to try to get you to click. At the bottom of the list of agents, there is normally a property owner contact.