All Forum Posts by: Account Closed

Mr. Dmitriy Fomichenko, I would like to know if a homeowner can owner finance TO my company's retirement plan. I have consulted at least three people in the industry and have gotten three different answers. One said that it was legal for a homeowner to sell to a self-directed retirement plan, another said that a retirement plan could only buy a property IF it was paid in full, and a third told me that I could open myself up to some sort of taxes. Please explain these taxes and the whole situation to me, if this information is accurate.

I have some ideas but i would like to know how you wholesalers would handle a situation where your buyer needs bank financing instead of dealing with a buyer who has the cash on hand?

I member of my RIG group has a subject to deal that they would like to assign to someone else for $5k. How do I go about paying his assignment fee out of my retirement plan if I want the plan to take ownership of the property with the current financing in place?

This question isn't about real estate per se but I know that we have a lot of members that would be knowledgeable on the subject. My LLC has a non-prototype retirement plan. I am the administrator of the plan but I have a well known company that was just bought out by a larger company. This company helps keep me in compliance with certain IRS forms that need to be filed. The prices for their services have gone up tremendously since the buyout and I am thinking about finding another company to assume the same responsibilities. Can anyone give me some references?

Thanks to the both of you! People like you are the reason why the Internet is one of the best inventions known to the world!

I am not. I almost have my real estate license and want to work real estate from several angles.

I have a self directed that I can purchase real estate within. Can partially finance a piece of real estate that I want to purchase with the self directed? I have enough in the plan to purchase the property straight out but would like to pay only about 50% of the total cost now.

What is your primary occupation?

I kept passing this house that was for sale for months. I tried calling the Realtor on the sign a few times but he never answered his phone or returned messages. I finally sent a letter to the owner on record. A lady finally called me back and said that she had six properties for sale because she had been ordered by a judge to liquidate her husband's estate. She has all the properties listed between two Realtors. It seems that they are asking full retail for the properties based on the prices she quoted to me. I am not a Realtor but would like to get these properties under contract at a good enough prices to wholesale myself. I have a couple of ideas of my own BUT what would be your strategy?

Does anyone have a FREE Wholesale Lease Option Contract that I can use as a template?