The investor wants an ongoing supply of homes.I still need a house for December if you know of any.Stacy

Originally posted by James Vermillion:Not yet...I will be getting out of the military in Jul and plan on staying part time for 1-2 years before going full time.Hello,I was just reading one of your post on how you are in the military and plan on going full time in Real Estate.Me and my wife are very interested in how you have become so successful while serving.

Beyond that, I think the important thing to determine is whether the bad credit was due to an isolated life event or whether it is an ongoing situation.

NOTE: Currently injured from a work related injury, I don't plan on going back.I'm finishing my degree in Business Admin starting next month, and looking to get additional education in the Real Estate Field.I'm at the point of having to make this work!

Most people like LLC's because they are easy to set-up and there isn't a lot of on-going paperwork.

They will also want to manage the property for you on an ongoing basis, so this provides a strong incentive for them to oversee the rehab of that property, in a manner that is satisfactory to you, using either their in-house crew or another contractor.

Nabers is better if you need ongoing support and Sunwest Trust is better if you want to do everything on your own at your own risk for minimal cost.So fees vary a lot based on what the investor intends to do with the self-directed retirement plan.

If you do not pay yourself a reasonable salary for a repeated and ongoing active investments the IRS and State Revenue Agency may come after you.LLC’s are by default treated by the IRS as pass-through partnerships (or disregarded entities if a single member/owner), which means profits and losses flow right to the owners and are added on to their income to be taxed and are not taxed first at the company level (i.e. no double taxation).

Good points and examples on going contrary to the conventional "wisdom," James.

I plan on going to all the FIBI events and most near the OC area to network.