All Forum Posts by: William A.

You are planning to put 100 percent down without carrying a loan?

It will be less than 67,500 by the time taxes are paid. But agreed, a self-directed IRA would be the only way to do this, rather than cash out. Guidant Financial is an example of a company that does this.

My siblings and I have inherited a small family farm.  The farm has been leased for a cash rent for the past several years.  The rent has not been adjusted for several years.  We have also had a some inquiries about selling the property (including from the current tenant).

From what I have been reading value of the land is based in part by how productive the land is.   We don't have any historical data, so our knowledge about how much the land is worth is limited. 

I think I need to write a letter to the current tenant requesting this information.  How do I politely obtain this information from the current tenant, and is there any specific documents (or proof) that I should request?

Even  if you are not legally required to do so ,  why would you not want to reimburse them for unpaid days?

I was asking as a potential lender.

Well odiously you do it for the profit.   Perhaps the question I should have asked was "How lucrative is this"?    I read about flippers making 10 30, 50, and 100K on a flip.    I was curious if a investor that partnered with a seasoned flipper could make some serious money as well. 

I am also have been considering getting my real estate license in the Louisville area. I don't ever plan to work as a full-time realtor (sales is not my thing), however, I feel like getting my license will help me to better understand the real estate industry (thus making me a better investor). I also like the idea of having unlimited access to MLS listings, and being able to cut commissions!

I think you made a good call.  It looks like to me the only red flags were the ones missing from the golf course!