Let's see if we can get this topic kickstarted! Thank you Larry and Michael for the greeting. I posted about using turnkey properties in my self directed IRA to grow my funds passively. I am thinking about buying 5 properties with 20-25% down using non recourse financing for 30 year term. While paying these mortgages I would use the cash flow from the initial 5 properties to save for the down payment on properties 6 through 10 and purchase them in like manner. When I reach 10 properties in my portfolio I would begin to pay the mortgages off using the cash flow to excelerate the process. I would be looking for properties that were fully rehabbed and cash flow a minimum of $300/mo with the mortgage and approx $800/month when paid off. I am looking for direction from anyone here who can speak to what requirements, concerns, and the numbers that I should be looking at to make my plan a success.
