All Forum Posts by: Bob Razler

OMG....And I thought I was the only one with that regret!

Hello:

I am new as well (2 weeks).

I recommend listening to all the podcasts you can, reading the blog posts (under EDUCATION above) and just reading the forums in topics that interest you.

I certainly don't think you have any reason to avoid a REIA meeting. I would go, meet people, be honest about your knowledge level and make some new friends/mentors.

Good Luck!

Bob

Welcome and congrats on your decision to start investing!

Hello:

I have been running down deals for the past 2 weeks (I know, major experience here. <g>).

While generally all the posts are correct.  The market is frothy and the deals aren't there for the picking.

However, have discipline.  I run my numbers and I try to offer the seller a number that works for me.  While many reject them, some of them try to negotiate a little.  But I am confident that the deals can be found.

I found one Sunday night that had great numbers (I honestly think the seller left lots of money on the table) but at 8 pm Sunday night someone else had got an all-cash, 5 day close offer in just before me.  My lesson from that is that it's not impossible.  If I were faster I would have got it.

I also think we need to make our own deals by driving for dollars and finding motivated sellers.

I found a great duplex last week and my lower offer was rejected, but I found 2 homes in the same community that looked a little neglected.  I tracked down the owners and mailed them letters (the worlds smallest direct mail campaign).  I am hoping to hear back.

Bottom line, don't give up.

Bob

Hello:

Thank you @George Blower!  I am going to review your website today!

Hello:

Thank you @George Blower!  That is an interesting thought.  However, I have a full time job that offers a 401(k) plan that I participate in.

Am I limited to my employers plan or can I have multiple 401(k)'s for each job?

Bob

TRUE! At least I am not posting "I just gave $4 mil from my IRA to some guy at the local motel.....I am waiting for him to return with the deed now!" :-)

Thank you @Dmitriy Fomichenko.

I was hopeful that I could "unlock" these funds to help me build my portfolio, but it does not appear to be as useful as I first thought.

Thank you for the clarification @Brian Eastman.

Hello:

Thank you @Brian Eastman & @George Blower!  I appreciate the responses.

I will certainly have a 3rd party set it up.

I envision the SDIRA simply being an arms-length lender to the LLC where the only benefit flowing back to the SDIRA is the interest on the loan that was made to the LLC. This avoids the separation of benefits such as living in the homes, rent, expesnes, etc. and allows for the SDIRA to be protected for tax liability.

 Thank you,

Bob