All Forum Posts by: Jamie Greenberg

Interesting, thanks Kevin! So in that equation it'd be more about the value of the assets in the IRA than the actual monthly income/cash-flow that I receive from them, right?

Got it thanks.  That's what I thought but wanted some confirmation.

Hi folks. Quick question for the lenders out there. My wife and I trend toward the asset-rich but income-poor side of the spectrum so I'm trying to completely understand our ability to borrow in the future to upgrade to a slightly newer/larger primary residence, as well as for future mortgages on investment properties. Currently I own several mortgage notes through my Self Directed IRA LLC. They make a monthly income through interest payments. One of the notes is currently under foreclosure so I may end up owning and renting out that property as well. Can I use that income (both the interest income and the potential rental income) to improve my reported income/DTI on a mortgage application, or does it not count because the money is theoretically "locked" away in a retirement account? If I CAN use it, would I just show invoices, etc. as proof of income since those details don't appear on our tax returns like taxable income would?

Thanks in advance!

Thanks Attila and Alan

Fair enough.  My first rental property in the area like I said.  In any case my question still stands if anyone is willing to throw their favorite contractors some potential work.  

Hi folks.  I just purchased my first investment property in Jacksonville.  The plan is to rehab it and rent it out.  It needs a new roof and several cosmetic updates (re-tile bathrooms, refinish kitchen cabinets and replace countertop, new carpet in bedrooms, paint everywhere, etc.).  I am looking for a few local contractors to bid on the various items or the whole project.  I can provide a full list to those that are interested.  Let me know if you know of any reputable options in the area.  

I am changing the mailing address of my LLC. Do I have to do anything to formally update the assignments for my notes?

Thanks!

Jamie

Thanks for the input guys.  

I got an email from Richmond Monroe that they're raising the price for my loan collateral storage from $1 per loan per month to $5 per loan per month.  It's obviously not a huge cost but it has given me reason to look around.  Are there any reasonably priced/reliable alternatives out there?  Do most other (small time) note investors use a service like Richmond Monroe or keep their notes themselves?

Thanks!

Thanks @Jonathan Godes .  We will look into those areas.  

@Kenneth Littrell , sounds great.  I just replied to your PM.