I learned the above from a RE attorney and a senior title officer when they presented a session on OR foreclosure and tax regulations.

If you do engage in a prohibited transaction, and the IRS finds out, they will invalidate your entire IRA account, not just the prohibited transaction.

I spoke with two foreclosure/short sale experts at my meeting tonight, but didn't have time to engage in an in-depth conversation... so their advice was simply "Just get the deal on paper first -- get them to sign it over to you before doing anything else."

the challenge seems to be in finding an escrow/title company that will allow the "double escrow" to be done.....for example: there is an escrow open that is required by the lender once the "approval" from the lender is secured....then there needs to be another escrow opened between the "buyer" and the "end-buyer" on the same property....so, "end buyer" comes into escrow with the $300K plus closing costs, closes existing escrow on the property...then the title/escrow officer walks into the next room and applies the $250K plus closing costs to the original escrow to close that one.in theory and once in the past this was the way it was and still should be...but, now as it seems, most escrow/title companies are not wanting to do the "double" escrow for reasons of "full disclosure" to all parties, for fear of not being "sued" for some type of fraud.those of us not engaging in these tactics get penalized.....but, such is life....i have a title company that has stated they will do a "double" escrow but, will need to let the lender know this fact. not disclose the "amount" the "end-buyer" is paying, merely disclose there is a 'double" escrow in effect....well, obviously this should kill the deal right at the very end....so, not a wise direction to take....

Just my opinion....The lack of information on many of the posts and profiles of any forum can discourage others from engaging in any type of serious conversation.RE_Jokester_01 want's to know about a $100MM loan but doesn't provide his/her real name, an email, and at least a vague geographical location; how serious could they be?

i mean if you meet with someone and they screw you over, you're out money and you move on.just do as many as you can and make as much money as you can as fast as you can and while your competition is sleeping or worrying about what type of contract to draw up, you're planning your next farming session and planning your next weeks schedule to meet and greet investors at the next chamber meeting or rei meeting.go go go.

You behave this way because You Don't Respect Professional Real Estate Agents/Brokers.Would you engage 2 lawyers for a lawsuit to see who can get you the highest settlement, knowing that one won't be paid?

As a Partner in the GC-GOLD Construction Lending consortium with primary markets extending from the Mid-Atlantic States, the S.E. and selected S.W. markets I have to say that we have seen NO reduction in requests for const-to-perm financing from those who want to engage in the construction of a CUSTOM-built home as a primary residence or a 2nd/vacation home when completed.From that perspective alone...

Less reason to come to the site and engage there.

I don’t even advertise looking for houses but I do some speaking engagements and I have been published so my name has gotten around a little.