All Forum Posts by: Stephen Craul

Thanks Jev; that seems to be my conclusion also when looking online. Wondering if some better options though. Over 30 year period could save $108,000 ($300x12 months x 30 years) and this would not include the refinancing costs that must happen at the 10 year ballon. Sometimes hear about eQRP but this may not be real and more click bait. If the SDIRA LLC is owned by two members (husband/wife) is it worth it to pay a penalty to convert out of an IRA or just stay the course. Of more concern are rumors that the Biden administration may force sell those assets in IRA etc. etc.

Rental property in Tucson purchased with SDIRA in 2019 using LLC. Non recourse loan 10 year fixed balloon with NASB bank at 6% interest rate. Used NASB as they specialize in IRA loans.

Currently under contract to buy rental property in my name 30 year fixed and loan processing agent recommended refinancing the NASB loan to a 4% 30 year fixed for monthly payment mid three hundreds down fro mid 600 hundreds for PITI.

Tools him didn’t think this was allowed but he said I personally would be guaranteeing the loan but check with accountant etc.

Anyone knowledgeable on this?

Thanks

Hi BP members; Formed an LLC registered in Colorado (state of residence) using self directed IRA (wife & I) in 2016. Finally purchased a residential single family home in Tucson, Arizona July 2019 using 50% mortgage to afford the property. Property rented out and generate UBIT due to the debt service. Would love to do taxes on this myself as the Colorado accountant has been charging over $500 on the 2016-2018 T-990 tax returns, and estimates the tax return fee would increase to $800 minimum for 2019 return as more complex. Basic question is whether an accountant in AZ would be a better choice (as AZ is where the rental property is doing buisness) or stay with the CO accountant. Also, currently doing QuickBooks myself and wondering if its possible to do a turbotax filing with this entity or too complex and accountant best option. Thank you.

Hi Anthony

Did you find anyone decent. Have a SFH to rent out and the recommendations I received were MEB rental homes and Renter's warehouse, however, yelp and google have terrible reviews. Considering self mgmt as prefer fast service to tenants but as living in Colorado would probably have to use RE agent to show home etc. Also working 40 hours per week so PM would be preferred.

Stephen