All Forum Posts by: Ramsey Howard

I am putting together a sales contract for a group of rental properties as the buyer. I want to make sure I include any advantageous details that can benefit myself at closing. Such as asking for closing costs to be paid, prorated rents depending on when closing is during the month, getting security deposits, ect.. looking for creative details to include and anything I may not think of that, from simple to complex. Thanks in advance!

Thank you @Jonathan Malnati i was looking for something like that.

Can someone with knowledge of how the laws governing Delinquent tax sales in Georgia explain to me how it works. I have been to several tax sales at the court house. I understand how the starting bid is for the back taxes owed on the property, what i am unclear about is if it sells for more than that amount, where and to whom does the extra amount go to? Does the county get it, property owner, bank, ect?? Also, I understand if a tax bill is later paid by the property owner within 12 months and the notice period they must pay the original amount and a 20% penalty and any fees incured by the person who bought this tax lien. Also, i understand that by purchasing the tax lien on one of these properties, regardless of any other liens (bank, ect) you own the property. Any information provided will be awesome, sorry or the long post....;) 

Can someone give some advice on how using private money for a down-payment combined with Bank financing for the rest may work. Advice on doing this in general or strategies to make it easier on the banking side of things. I am looking at doing a deal where a private investor would be providing the down payment and the rest would be financed with the bank. The investor doesn't want to be involved in the bank side of things only wants a formal agreement between us for the down payment portion of they're investment. Thanks!

Perfect Response @Brian Eastman. Thanks so much! Can you also explain the special situation in which you might just use a portion of the SDIRA to use as a down payment, using traditional financing for the rest of the purchase? I understand that possibly some SDIRA's don't allow this possibly.

Thanks Jay for the reply. So how does the verification process work to where the SDIRA knows whether you are receiving rent payments or not?

Quick question, purchasing a long term rental through a sdira, how exactly does the rental income get back in the ira? Obviously I haven't set this up yet as I would probably know the answer, just thinking ahead. 

@Mike Vann are you refinancing a property your flipping and then selling and paying off the financing. I see your strategy being well with buy and hold which I assume is what your, just curious. Also,if you are doing long term properties, can you provide some details about how you've found financing for 15 properties that close together. Thanks!

@Stacey Paulin check out APCU Atlanta Postal Credit Union or any local community banks in the Atlanta area. I just prefer credit unions based on past experiences they seem to be more willing to work with there members.

@Jassem A. @Matt Lefebvre thanks for the replies. That is what I thought, but wanted to be sure! Thanks!