Hello Fellow BP'ers, I am currently looking for Value Add buy & hold opportunities in the NY Tri-state area and would love to connect with investors out there who have successfully executed in the past.

Buyer has examined the Premises and is relying solely upon such examination with respect to the condition, character and size of the land, improvements and fixtures, if any, constituting the Premises.At Buyer's own cost and expense, Buyer shall obtain and maintain in full force and effect at all times during the continuance of this Contract: (a) comprehensive liability insurance for bodily injury or death to any person or persons, and property damage insurance, in such amounts as Seller reasonably deems necessary; and (b) fire and extended coverage insurance in an amount sufficient to prevent Seller from being a co-insured under said policy of insurance, but in no event less than the unpaid balance due under this Contract.Seller and Buyer shall both be named as insured parties in the insurance policies required above, as their interests appear, Buyer shall furnish Seller with memorandum copies of such insurance policies upon Seller's execution of this Contract.

So long as the terms of that note will allow you to execute the subject to transaction, there should be nothing related to the IRA that would create an issue for you or the IRA account holder.The IRA as it stands should be subject to UDFI taxation on any of the income derived from the debt financing.  

It can be a great way to get results for your retirement savings if executed properly.

Recently I have been torn with my decision on execution and I'd like to hear what BP has to say.I currently don't own any properties and I am looking to purchase a multi-family unit so that I can get my first property, rent it out and start building equity.I have heard from multiple friends about how the market is on peak and I should probably wait to purchase a property.What opinions do you guys have with this topic?

The longer your history of completing successful projects, the stronger your deals, the better your plans and the better you get at executing your plans, the more exit strategies you master, and the more of your own funds you are willing to commit to your project, the more likely you will find a lender to partner with at favorable terms.

How long do your next tenants tend to stay in the executive rentals? 

Most of the hassle is upfront, since you'll need to execute a note properly and involve an attorney and tax advisor.

I've been working probates for a long time and what you need to understand is the basics of the process and the ability to connect with family members and nurture them until they are ready to sell.Since a deceased person cannot transfer title to you now (absent an estate with a properly executed trust in place) the property will need to go through some form of probate. 

. === here's the Calif Form, observe, it's a Proof of Service, not a Notarization === Proof Of Service I, the undersigned declare under penalty of perjury, that I served this Notice to Pay Rent or Quit, of which this is a true copy, on the above-mentioned Tenant in Possession in the manner(s) indicated below; [ ] On ____________________, 19____, I handed the Notice to the tenant. [ ] I handed the Notice to a person of suitable age and discretion at the tenant’s residence/business on ____________________, 19____. [ ] I posted the Notice in a conspicuous place at the tenant’s residence on __________________________, 19____, [ ] I sent by certified mail a true copy of the Notice to the tenant at this place of residence on ____________________, 19____, Executed ____________________, at _______________ By ____________________________________________