All Forum Posts by: Todd Krzeminski

... If you haven't recorded your assignment of mortgage, get it done immediately, along with any previously unrecorded assignments which are ahead of yours in the chain.

Great feedback. I appreciate it.

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Yes, the first lien was performing and that balance + the second lien balance are well less than the FMV. They are asking for 40k over the FMV. It's a hot market here and they may get close to that.

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So I just closed on a reperforming second lien note this month through my SDIRA. This is the first note I've ever purchased. I happened to drive by the property last night, and there's now a For Sale sign out front!

I purchased the note for $23,500 and the payoff is just under 31k.

My initial thought is this is the best case scenario -- assuming the house sells, I immediately get the 7k kicker, get my money back to invest in the next. Am I missing something?

Is this common with reperformers? My theory is the owner reworked the delinquent loan, and now that the loan is performing they're getting out while they can.

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Originally posted by @Doreen Chaisson:

Plenty of clients at the SD IRA custodian I work for (not Equity) have brokerage accounts within their IRAs, working with TD Ameritrade, Fidelity, Wells Fargo and Schwab. Your custodian should be assisting with setting up this account - you shouldn't have to be doing it on your own or having to reach out to them directly. Your custodian should have established relationships with certain brokerage houses, and should be assisting you with selecting the one you want to work with and processing the application for your IRA to have its own brokerage account.

Yeah, I would have assumed the same. When I ask them for recommendations, they go into a near panic claiming that they can't give any broker recommendations. So I end up contacting them directly to no avail.

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@Dmitriy Fomichenko Thanks. It's frustrating -- can't get this info out of my own custodian.

@Edward B. Well that's not what I wanted to hear. As you mentioned, It might be difficult to move to another SDIRA custodian.

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I'm interested in investing a portion of my SDIRA (with Equity Trust) in Stock Options. Equity Trust requires that I open an individual brokerage account (with Fidelity, Charles Schwab, etc.) in the name "Equity Trust Company Custodian FBO IRA". I haven't found a brokerage that will allow this -- I'm assuming I'm not talking to the right people at the brokerage houses that understand this. Does anyone have recommendations or ideas on how I can accomplish this?

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Originally posted by @Tom Ott:

Originally posted by @Todd Krzeminski:

Hey everyone!

I’ve been a lurker on BP for several months and decided it’s time to get serious. I’m a 39 year old software engineer from Northern Virginia. I’m new to investing, although my wife and I had a rental condo back in 2005-2006, a former primary residence -- so we have brief landlording experience. We’re extremely excited and motivated to get started in real estate investing in earnest. I’ve read several books, listened to many podcasts and read lots of articles

My wife @Amy Krz and I have a short term goal of getting an out-of-state Turnkey property under contract by the end of May. We’ve already contacted several turnkey providers, and have been preapproved for a loan.

I'm looking for other buy and hold newbies that are interested in holding each other accountable in achieving our real estate goals. My thought is a group (or even an individual) that can push one another, act as a sounding board, provide referrals, funding ideas and expand our REI knowledge as we go would be a valuable resource to have during our journey to financial independence. I'm not looking for partnerships, although perhaps that's an option down the line.

I’m not really sure of the logistics — perhaps just email threads, chat sessions, Skype calls, in-person coffee meetings, etc. Those details can be worked out.

Anyone have interest in something like this? I’m looking for people ready to take action! PM me or reply if you are!!

Hello Todd,

Welcome to BP! I am sure you have already seen how useful this site can be in terms of advice, and professional knowledge.

What states are you looking into for turnkey properties? Those types of investments can be the best for out of state investors.

Feel free to reach out to me and I will be able to answer any questions.

Happy investing!

Indianapolis is the market we'll start with for our first property.

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Originally posted by @Michael Dunn:

Hey Todd, I'm curious as to why you are seeking "out of state" rental property rather than in your local area.

It's just not cost effective. Home prices in the DC area are very high, and I still have a full time job so I don't have time to find distressed properties, fix them, etc. I like the idea of a turnkey solution in an affordable area.

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Wow lots of interest!

I'm going to stop taking requests for the group now so we can keep it manageable -- if someone wants to make group 2+ after this post, I think that's great.

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Some of you don't have your email addresses in your profile. Please PM me and I'll add you to the email list.

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All Forum Posts by: Todd Krzeminski

Todd Krzeminski has started 16 posts and replied 104 times.

Post: Bought first note and house already on market!

Post: Bought first note and house already on market!

Post: Bought first note and house already on market!

Post: SDIRA and Stock Options

Post: SDIRA and Stock Options

Post: SDIRA and Stock Options

Post: Buy and Hold Newbie Accountability Group

Post: Buy and Hold Newbie Accountability Group

Post: Buy and Hold Newbie Accountability Group

Post: Buy and Hold Newbie Accountability Group