Get to the REIAs.Read about Self directed irashttp://www.amazon.com/IRA-Wealth-Revolutionary-Strategies-Investment/dp/0757000940Read about the Private Banker Concept through TrustEtc.com, my favorite custodian.https://www.dropbox.com/s/lubeo04p7o5d8rk/PrivateBank_2011_Final.pdfOnce you understand the Custodians, Prohibited Transactions, Disqualified Persons, etc, you can give speeches to Rotary, Lions, Chambers, etc. about Main Street vs Wall St.

Because as I understand it, the Contract that the Bank would have signed with that Wholesaler will have words to the effect prohibiting them to on-sell at a profit - unless they wait a certain seasoning period and/or they can show proof of adding significant value to the property before reselling at a higher price.Therefore, it could be argued that you would be guilty-by-association!

I've done the numbers in texas and unfortunately construction costs are prohibitive to make a profit on land development.

@Patti Robertson Yeah I won't go around the wholesaler, as it was prohibited in the assignment agreement, I can only ask him to correspond as a middleman.

@Ben Smith Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your own business.

I have been told from a reliable source (and Georgia resident) that if you 1031 money into Georgia, when you sell that property, you cannot 1031 to outside of Georgia.I do not know if there is a general prohibition against 1031 out of the state or if it only applies if you 1031ed into the state in the first place.

I was confused and thought she meant my real estate licence or something prohibiting me from wholesaling but then she said for a mortgage. and i just went along with it because i thought she had no idea what i was talking about. she told me she was going to give me a call tomorrow. i also think it was because i only have on bar of connection in my room.

@Mike G. my initial reaction is to get a new lender as quickly as possible...most people do not think of a 3 or 4-unit building as a "single family", but it is...we only really move to multifamily at the 5 unit mark...What is the setup of the property...triplexes are very rare and oftentimes are comprised of more than one structure...on the same parcel...the only issue I can see is if this is non-conforming...maybe a SFR and a condo...or condo and duplex...something like that.In reality, the only thing that would prohibit you from getting your offer accepted is the competitiveness of the market...you actually would have about a 4% of getting an FHA offer accepted here...hot markets and FHA loans (especially in locations with older properties) is a fatal combination...most listing agents would advise to not accept and FHA loan because they are inherently problematic at both underwriting and closing timelines...you are almost always better off with a conventional loan unless your credit score is low...What else is going on with the situation?

Did you prohibit the landlord from agreeing to new leases.

The statsitics we've seen are that 60% of property claims are caused by tenant negligence...so, yes, requiring AND enforcing this (where not prohibited to require it) is good advice...