I am currently a commercial property manager for a local firm in O.C. I'm seeking professional guidance to jump in and invest in real estate through self directed IRA, funded and ready to go. I am in the process of renewing my RE license (which has never been used for a transaction). Not sure I want to do flips or buy and holds but may be interested in investing passively with the right trustworthy individuals. Need great tax advisor to show me all the benefits of RE investing through self directed IRA and to see if I should be doing this full time!
Feel free to ask questions Roxanne, there are many experienced SDIRA professionals present on BiggerPockets.
If you're looking to learn more, my BiggerPockets blog has lots of real estate IRA related content available.
Welcome to Bigger Pockets!
I agree with @Loren Whitney. There is plenty of knowledge here. Do you have any specific questions?
When you talk about "doing this full time" are you still referring to investing with your self-directed IRA? I ask because while that is a great way to build IRA asset value, it typically doesn't do anything to provide a current income unless you are ready to take some form of distribution from your account.
@Roxanne Baisden Welcome to BP. Lots of questions with your post.
1. What kind of account do you have? Is it truly self-directed or do you have a middle man (company) who has access to your funds and you must work threw them? I self-directed my money in a truly self directed account with @Dmitriy Fomichenko and have not looked back since.
2. I have used my money to fund fix and flips in Los Angeles, purchased two condos for buy and hold and currently looking to partner with fix and flips in Orange County.
3. The best thing about using your IRA money to invest is that there are NO taxes to be paid until you withdraw your funds. (Please seek professional advise)
If you would like to meet and discuss some options let me know. I am currently flipping a home in Huntington Beach and can only meet during the evening hours or on Sunday.
Welcome to BP. You are already putting your time here to good and are connecting with fellow BP'ers who can answer questions.
I recently completed a four week training on Notes. I found it extremely helpful and supportive. I'm also looking into utilizing the skills and team support found at N.A.P. (Note Assistance Project) which happens to be located in OC. Jasmine has been very helpful listening to my questions and suggesting options and strategies.
The key for me has been finding the areas of investing where I am most comfortable and of course will supply the necessary returns.
Currently we have properties, buy & hold, in Oklahoma. Our goal for 2016 is to have business here in CA (closer to home). We believe this will happen through two or three avenues, Find, Reno, and Sell properties with partners (looking for ones in LA & OC Counties) and notes.
Three keys...Don't stop....Keep learning...and take Action even when uncomfortable....Bonus reminder...Don't stop!
If you are looking to invest retirement funds in a real-estate operating company where you can draw a salary consider the ROBS 401k. See the following IRS link for more information.