EXAMPLE: UBIT and UDFI (Leveraging Real Estate with a Non-Recourse Loan) Bob Smith has a Self-Directed IRA and would like to purchase a rental house for $140,000 by making a down payment of $70,000 and he leverages the property with a non-recourse loan for the other $70,000 financed at 6.5% interest only note on the difference (I am using a interest only loan for clarity on the ownership vs leverage percentage).

Here is my first.If I am using the 50% rule to quickly evaluate operating expense for a prospective multifamily property.

I am using this discussion to request for your input in which city I should primarily focus in for out of state investing.

What I can Offer to BP users:- What to do when it comes to updating a house with the latest and greatest Electronics,-Assistance with their house projects in return for mentorship and a chance to shadow what they do.What I am looking for from BPusers:- If anyone needs someone to check out a property or take Pictures of the property, I am your guy. ( currently have an hour drive from my house to work, I am used to the drive it nothing)-Knowledge: I am alway listening to Bp podcast and learning -Let's Meet: anyone with the same goals In the surrounding Massachusets region, don't be afraid to reach out.  

I paid almost nothing for the building so I never depreciated that on the taxes, I think that means I can included that in the basis ( I hope I am using that word correctly.) 

Yeah I am used to investing in Madison and Edmonton heights so this will be new for me!

Hello all.My current spread sheet I am using is super old and clunky.

What I mean is, I have some extra time during the day, at my desk (e.g. lunchtimes), and am using this time to work on real estate.

@Thomas S and @ Amy Beth :Find another job better suited to investing or a parttime job to supplement current.I would opt for the later here because again, lenders like to see longevity so perhaps keep current job just supplement it, especially if you have time with currently working only 30 hours a week.Good luck.Keep that hustle and that hunger, and at the same time, celebrate your wins, you are doing great and an inspiration.Great topic.I learned a lot from this and good to see that I am not alone and also nice to know that the strategies I am using currently are in part what has been suggested here: Refi then do a HELOC.I could have gone with a cash out Refi, but I needed more than what the cashout Refi was going to allow me.Good luck @ Nicholas Weckstein.

I am using the listing agent thinking that helps him make a bit more money on the deal.