All Forum Posts by: Roy Whetstine
Roy Whetstine has started 2 posts and replied 2 times.
Post: What's your Opinion: Compensation for KP & Structure of SDIRA LLC
- Investor
- Evansville, IN
- Posts 2
- Votes 1
What is an appropriate compensation/ownership structure of this one? We are preparing to meet with a KKOS attorney to form our Multi-Member LLC comprised of 3 Self Directed IRA Members and a 4th Individual Member.
Details: Members are close family and "qualified" in regards to the IRA restrictions. Real Estate is under contract in Southern Indiana. Local Commercial Lender (Recourse Loan) is on board with Fourth Individual being the one and only acting as the loan guarantor. Price point $410K; Loan Amt. $307.5K; Additional Cash $17.5K; Repairs $0; Cash Needed 120K
X, Y and Z are experienced and will play active unpaid roles.
4th Ind. is passive in-experienced and hands off decision making.
Option A:
X-IRA = Cont. 30,000; Will handle all rental management and contract maintenance duties free of charge to LLC.
Y-IRA = Cont. 30,000; Co-Deal finder. Oversight and decision making duties.
Z-IRA = Cont. 30,000; Co- Deal finder, advisor and coordinator.
F-Ind.= Cont. 30,000 Acting as key principle to qualify and guarantee the entire loan amount.
All opinions are welcome: 1) appropriate Split x%/y%/z%/f%
2) What would be an appropriate comp. amount and structure for the KP role?
Option B:
X-IRA = Cont. $40K; Will handle all rental management and contract maintenance duties free of charge.
Y-IRA = Cont. $40,000; Co-Deal finder. Oversight and decision-making duties.
Z-IRA = Cont. $40,000; Co- Deal finder, advisor, and coordinator.
4-Ind.= Cont. $0 Only acting as key principle to qualify and guarantee the entire loan amount.
All opinions are welcome: 1) appropriate Split x%/y%/z%/f%
2) What would be an appropriate comp. amount and structure for the KP role?
Post: Best software for managing homes sold on CONTRACT
- Investor
- Evansville, IN
- Posts 2
- Votes 1
Hey Everyone,
My family and I own about 65 single family homes in which most of them are sold on contract. We are looking for a software that can tract payments (principle/interest). We see many options for standard rental management software, but we are looking for one that can do both rentals and homes sold on contract. Right now we have a very basic excell program that our secretary enters the data in every month.
Thanks for any help!!