All Forum Posts by: Ryan Moore

End of November, I withdrew money from my IRA to fund a real estate transaction. I was informed that I can withdraw funds from my IRA once per year and not be taxed/penalized as long as it gets back into the IRA within 60 days. That 60 days is not up until January 2019. If I do not get money back into the IRA before end of 2018, will I have to pay taxes and penalties for my 2018 taxes and then my 2019 taxes will have that reversed? Or will I not have a taxable event in 2018 since the 60 days carries over into 2019?

For a duplex I'm under contract for, I have two insurers presenting me quotes and I'm trying to make it as apples-to-apples as possible.  One has liability at $300k, and the other has $500k.

How do I decide on what my liability coverage needs are?  Curious to hear how others choose.

Is your MF in Tucson and what size?  I'm buying in Tucson right now and have some quotes if you want to PM me to discuss.

 Thanks, yeah I have that book too on audiobook.  I listened to it on a trip once while driving but clearly didn't retain anything to memory.  I think I need to steer away from audio books when it comes to things I'm trying to learn and will need to reference again.

Is there a recommended book out there that does a good deep dive into proper due diligence and other important items like determining reserves?  I've closed on a 4-unit before and I just got under contract for a 5 unit.  My first go-around w/ the 4 unit involved a very primitive understanding of due diligence and not really calculating any specific reserves.

I know I own and have listened to several books that touch upon it (HOLD, ABCs of Real Estate Investing) but having them in just audio format has make it a bit more difficult to find the right information if they are in there.

In my RE investing, along with a 4-unit that I've owned for 2 years, I'm currently under contract for a 5-unit closing next month.  After that, I am going to divert my attention to seeking private capital or partnerships in order to scale up in MF.  I have a wide professional network of high income earners who do not do anything with their money and I have already started the vetting process of talking to some of them... mostly randomly at kids' birthday parties. 

I have taken the advice of many and started to post a couple times about my RE wins on both IG and FB.  I use IG and FB personally with minimal use. I'm a father of 3 little boys and it's mostly pics of them or us as a family.  

I've received positive feedback from many on those RE posts, including receiving a couple emails and PMs about interest in investing with me.  So I think I can try to keep something consistent RE wise going forward.

Right now I don't have much of an interest in seeking the attention of strangers for investing, but I may in the future.  Should I be opening up the privacy settings a bit on my IG and/or FB and start using hashtags to attract the attention of those looking?  Should I be making a whole new IG that doesn't contain much personal pictures?  I don't think I'm much of a fan of having a profile visible to the public and my kids splashed all over it.

I use a property manager for my small multifamily buy-n-holds and I calculate that into my expected expenses for any potential purchase, as I should.  I'm sure that I am competing out there with other buyers who do not calculate that expense line since they will self manage and can potentially offer more for the same value.

Should I stay the course and just keep offering based off my actual numbers that I know will be true expenses with regards to PM cost and wait for the right property accept an offer?

Or should I rethink my strategy and make some adjustments somewhere in my process so that I can stay competitive? For example, reduce my ROI goals slightly to account for a higher offer to be made.

On one hand, I just keep making offers with the numbers that work for me and eventually I'll get a bite.  On the other, reduce my return expectations knowing that I will be putting in less time than someone who self manages and I will be using that time to pursue other investments. 

 Is there a specialty area of law that deals with operating agreements?   

What type of attorney should I be connecting with in order to draw up an operating agreement that I plan use between myself and future potential partners?   Also, should I be staying local for this particular legal need?

I'm playing around on rentometer and their search options are 'house/duplex' or 'condo/apartment'.  I don't really know how to classify units I'm researching that are part of a 3-plex, 4-plex, etc.  I know they are not condos, but do you think the system is calling them apartments?  If so, is calling a tri or quad an apartment a standard thing?