I've made an analysis spreadsheet based on some I found on the site, and I've been running numbers on several properties in the area to break it in.I'm going to go out looking at some houses this weekend to get a better idea on reno costs estimates.I know I still have a lot to learn, but I am a believer in learning through experience so before too long I will be seriously shopping the market.I look forward to continuing my new nightly routine; Podcast on the way home from work, dinner, and 3 hours on BP!

Rodney, IRA = Individual Retirement Account (regardless if it is conventional or self-directed) and is established in individual name, not in the name of the entity.In order to establish Solo 401k, you need to have self-employment activity, which could be under entity or simply as sole-proprietorship.

They knew I had been dedicated for months seeking out the right deal, so the trust was established.

It's somewhere between $150,000 and $250,000 I'll need, so not those little lenders I keep running into on Google.It's not for some new, risky business I'm hoping is a homerun, but for a long time, well-established franchise that has already been doing great for a number of years.The length of the loan doesn't matter too much to me, as I could throw large chunks toward this summer, and then probably be done with it by next summer, as my current business, which is massively passive, is very seasonal (Spring time).I won't say I'm desperate, but also with the shorter nature of the loan, and proven sales, as well as the success of my other business, I would even be willing to go for higher than normal rates.Anyway, thanks for any advice on lenders you might know of that deal in this area.

Second, and would it be better to establish a company to support the services that your providing to another?

A big feature to remain compliant is to establish a relationship with at least 3 hard money brokers who know how private lending works, before even moving past go.

Welcome to BP this site as well as the Real Estate meet ups have a lot to offer as far as advice, deals, and partners.

Thank you for the replies, I think  it would make sense for her to inform her tenants of the plans and establish what would work on both ends, such as a 30 or 60 day notice once a contract is signed in order for the tenants to find new housing and actually leave the property.

In this model, we would like to establish the ownership of new properties under the LLC.Another idea is to refi the houses (they have appreciated ~30%) and use the cash to purchase additional property.And then there is the third option - to sell and use whatever profits remain.Thanks,Eric

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