Nashville TN is where I live but I send out marketing material to pretty much all preforeclosure homes in the state of TN.Recently I ran into a investor who is looking to build up his portfolio of rental homes so he is allowing the tenants to stay in their house and rent it out once we have purchased their home keeping their home from going into foreclosure.I'm posting this question looking to ask, are you a investor who is:1.

Nashville TN is where I live but I send out marketing material to pretty much all preforeclosure homes in the state of TN.Recently I ran into a investor who is looking to build up his portfolio of rental homes so he is allowing the tenants to stay in their house and rent it out once we have purchased their home keeping their home from going into foreclosure.I'm posting this question looking to ask, are you a investor who is:1.

But of course when you use your retirement account to invest in your business there's a number of compliance requirements at the beginning as well as an ongoing basis.The following IRS website cover the ROBS. https://www.irs.gov/Retirement-Plans/Employee-Plans-Compliance-Unit-(EPCU)-Completed-Projects-Project-with-Summary-Reports-%E2%80%93-Rollovers-as-Business-Start-Ups-(ROBS)Also, here is how the process generally works.A new C-corporation is established.Corporation sponsors a new 401k/PSP.The IRA funds are transferred to a new brokerage account opened for the 401k/PSP.The new franchise corporation issues stock shares to the 401k/PSP for the benefit of the franchisee.The franchisee must be an employee of the franchise business and he or she may take a reasonable salary.The franchisee’s family members may be employees of the franchise business and receive reasonable compensation for their services.To the extent that the corporation generates profits and elects to distribute those profits to the owners of the business, the percentage of the profits associated with the shares held in the 401k/PSP will flow back to the 401k/PSP brokerage account.

I'm taking preforeclosure leads from an online publication's public notice, checking them on the local CAD to make sure they're not under water and one I ran into says under the "last transaction" section:"Sales disqualified as a result of examination of the deed:Transfer to or from bankruptcy trustees, administrators, executors, guardians, personal representatives, or receivers" which I'm not sure what that means, but usually it's accompanied by like a $100 price tag, or something really low as if just to have a number in there but this one in particular has a $207,800 one from back in 2011.

I should really really study my loan terms and all the vocabulary a little more since anything regarding loans or government regulations, etc, are all very very new to me.So since I am planning on going through with a 1031 to avoid taxes on my profits from selling my unit in Vegas, if I'm understanding you correctly, you would suggest paying a FHA 3.5% down on properties?

I ran it through the BP rental analysis tool, and it said that I should make around $1500 after all expenses.

I'm planning on going to my credit union next week to see where I stand in regards to getting a conventional loan for REI.I also need to get out to one of the local REIA meetings.

For example, they constantly run "intro" classes - even while the auction is ongoing outside the courthouse, for anyone wanting to learn the auction rules.

We are NOT handy whatsoever, so we would need to pay someone for any rehab/ongoing maintenance that would need done which is what scares me the most. 

Thanks for reaching out, I'm glad I ran into you this past weekend.