Note: Florida charges a hefty tax on rentals under 6 months. 

They close hundreds of loans a month and charge you for any hold up on their end.

For example, could I use my SDIRA to operate a management company that charges my holding LLCs a management fee?

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Real estate takes many years to be able to support yourself, and that’s if you do everything right and the cards fall into place.

Legitimate lenders may charge a small application fee (around $250) to verify you’re serious, but if someone’s asking for thousands with no real intention of closing, that’s a huge red flag.On a more positive note, there are creative financing approaches out there.

One thing I am curious of - typically many of the hard money lenders will charge a 1-3 year pre-payment penalty in these types of scenarios unless your client paid points to not have that pre-payment penalty.

My absolute best advice with ANY STR prospecting is to contact the municipality in charge of regulating that area of region.

Just withdraw it—it’s like a checking account.The Risks (Depends Who You Ask):A lawyer says everything can go wrong.An insurance agent says the same (so they can charge more).An engineer?

I forged ahead, moved into the house and used credit cards to partially improve the property before they maxed out.