All Forum Posts by: Seth C.

I am interested in buying a relatively low cost building and I am not worried about financing, but I am still shopping for mortgages and would like to leave my options open. How can I do that using the 20-12 and still remain credible to the seller? My first step is to include a clause that I will not assign, but I am not sure what to put in Paragraphs 3 and 4 or on a 3rd party financing addendum. 

I was thinking of changing $ figures to percentage ranges, but again credibility is necessary. Should I just present the most likely option and include a clause in Paragraph 11 allowing me to modify financing arrangements?

 @Eric Fernwood:

I definitely agree, this sounds like it require a proper cpa/lawyer opinion. People do invest as private investors in larger llc offerings using their ira, so certainly the llc itself does not need to be within the ira, but the shares you own do. For the rest, I will seek further info!

 @Eric Fernwood: Can the custodian/worker be anyone? Ie, it sounds like it would work to create a multi-member LLC with myself as the managing partner to manage an asset for an immediate family member, no need to have a series LLC? There would be an external management co, but I would like to be able to personally drive a nail.

@Dmitriy Fomichenko @Mark Nolan Thanks for the tips!

What are the simplest ways that someone can invest IRA capital in RE? Can they make private loans with or without a lien, invest using their own name, a limited partnership, etc? If LLC, does the money have to be passively invested, or can the LLC be closely held? Bring on your solutions!

Scott, what specifically are your bankers telling you? What makes it difficult for them?

@Brian Adams @Mark Mosch @Account Closed. Thanks guys, that looks like the perfect trifecta to me.

In the MF culture, what is the absolute lowest earnest money that won't be rejected out of hand? There are a number of reasons I want to go this route on a deal... Thanks!

On top of all this there is a problem with the "50% Rule" for expenses, since the BP calculator and others use this rule discounting from GSI, while others still, who are well-known and respected on the forums and elsewhere, discount from EGI (ie after economic vacancy is already deducted). So which one is it, #askBP ?

I just told the broker I would try to come up with an offer and terms and get back to him. I plan on knocking at least 25,000 more off my previous idea for an offer, which leaves room to finance 4000/unit for repairs while hitting target cash flow.

Giving this the US morning bump since most of my BP posts fall into darkness!