All Forum Posts by: Shawn C.

I am a real estate broker. I want to buy an apartment complex with an old 401k by converting it to a self directed and leveraging debt. I understand I cannot draw on the fund and the gains have to be reinvested. I have a few questions.

1. Can the leverage be paid down on an accelerated schedule w the income from the property?

2. Can my property management company manage the property and receive the income?

3. How are the expenses managed when it’s self directed? All expenses paid from 401k?

I am a real estate broker. I want to buy an apartment complex with an old 401k by converting it to a self directed and leveraging debt. I understand I cannot draw on the fund and the gains have to be reinvested. I have a few questions.

1. Can the leverage be paid down on an accelerated schedule w the income from the property?

2. Can my property management company manage the property and receive the income?

3. How are the expenses managed when it’s self directed? All expenses paid from 401k?

@Taylor L. I’ve tried a number of wording strategies.

As simple as, “ I buy property any condition for cash”. Doesn’t say what kind of property. Still gets rejected unless I classify as “offer for housing”.

Any recommendations?

Why are “Real Estate Wanted” ads targeting Agents and wholesalers restricted? It’s not housing offered? I’m an end buyer in San Antonio looking to purchase 4-6 rentals in North San Antonio but when I tried to boost my posting saying the same, it gets rejected as housing offered. I tried to target demo wholesalers and agent/brokers.

Shawn

210-968-7653

@Jon Kessler that’s a great suggestion.

Where can I find some good data on what marketing technique has the best ROI? Is it RVM, is it SMS, is it email, or is it direct mail? If it's direct mail is it postcards, is it yellow letter, or is it handwritten letters? Should I send to an absentee list? Vacant? Pre-foreclosure? Hi equity? I have about 10 hours a week to spend on marketing right now. And a couple of thousand dollars a month. Up to $4000 with proven success.

I also have enough cash to pay for a house or a down payment to finance 3 of them. Should I BURRR one? Or buy 3 or 4 with leverage? If the former

, Then my cash is tied up for 6 months. I supposed i can wholesale until my cash is free. I want to build a portfolio, I want to whole sale and I want to get listings and property management contracts. But first, Where can I find some good data on what marketing technique has the best ROI?

@Rick Pozos. Thanks, rephrased: a license holder is required to use state promulgated forms. How can I get in a subject to contract w/o any forms for that type of financing. Just want a standard subject to purchase w/o contacting mortgage co

How would a licensed sales professional in Texas go about writing a contract to a seller that is willing to do a wrap around their existing mortgage? Would they use the 1 to 4 contract and sellers financing addendum with the same terms as the existing loan?

I have an opportunity to take over a rental from a family member in Texas. They purchased it with a VA loan 2 years ago. They are okay with me assuming it, a wrap around or they said they'd gift it to me. Whatever is easier and cheaper to transfer it over.

I know the assumption is the best and safest for recallable loans but I understand they are rarely recalled when they’re current. I’ve yet to talk to anyone that has seen it happen.

A wrap around with the same terms as original loan gives them a lien on the property.

And gifting it to me may be the easiest and cheapest transaction

Any suggestions on best way to handle this and anything I should be aware of?

. ☝️