All Forum Posts by: Sameer Jain

@Wayne Brooks

Sorry I did not got what you mentioned about the proceed from foreclosure . Can you please elaborate it further ?

Thanks for your response. I have couple of more questions . As the money lend from Roth IRA account do we need to pay all legal fee also through Roth IRA account or we can pay the lawyer through personal funds . I heard that HUD foreclosure and evictions are not allowed till April end . Does it also mean properties funded through private lending also can be foreclosed till April end ?

Do you have any reference or recommendation for any law firm which can handle foreclosure request in this case ? If yes please let me know.

Hi I am looking for some advice here . I am a private lender and I do some private lending through my IRA funds . I loaned funds from my Roth IRA account to a real estate investor for 2 properties ( two separate 2nd liens loans ) in florida. Both the loans are in default as they have not been paid back after loan term was due .

Both properties have 1st lien from another private investor and both properties will have equity after paying back both 1st and 2nd liens.  I have tried to reach the investor to look for options to pay back the loans but it seem that he does not have any concrete plans to pay off the loans at the earliest.

What options I have to recover the amount due on the loan? Can I foreclose the property to recover the loan amount ? Do you have any recommendation of any law firms I can reach out who can assist me on this . Please share your thoughts.

Good advice .I am looking to invest in CA but in order to get a non recourse loan you need to put 40% down payment to purchase a property . I am not sure if it is easier to get financing by putting lesser down payment to purchase assests using IRA funds in CA

Looking for some contractor/Property manager  recommendation in Memphis area ? I am looking to do some rehabs in Memphis and north Mississippi area . Please advise

Thanks for your response .what is the best option to grow your portfolio in IRA account . Any recommended strategy ? Should we open LLC to buy a rental using self directed IRA funds ?

Guys

Looking for some contractor recommendation in Memphis area ? I am looking to do some rehabs in Memphis and north Mississippi area . Please advise

Hi

I have some funds in my self directed Roth IRA . I am not sure if I pull funds from my account try to do a BRRRR strategy using Roth IRA funds . Is it permissible ?

I plan to pay the self directed account loan once the property is refinanced ? Is it allowed to use Roth IRA funds to build your property portfolio and keep the title in my name once we pay back the IRA loan ?

For example buy property X all cash using IRA funds and fund all cash rehab using IRA funds ? Get it refinanced to pull out the money and pay the IRA note . I keep the title in my name or my LLC name after the refinance and continue doing that to build my rental portfolio ? Is this transaction allowed by IRA or is there a better way to do BRRRR using IRA funds ? Please advise

@Katie Lepore thanks for your detailed response it is helpful . I did not understand what you meant by saying if you incorporate in CA you will have to register LLC as foreign LLC where you buy the property .

If you buy properties in different state is it a good idea to keep them together under one CA LLC or you should have multiple LLC for different states . Although that will involve lot of paperwork and extra expense to maintain these LLC .