All Forum Posts by: Dan Hill

Sold the property this week...7 days!

Built in 1947 all brick expanded Cape with sunroom and large 2-car garage.  New fuel oil burner and full tank but everything else is old, broken or just plain ugly.  Complete renovation needed.  New construction and renovations in the neighborhood with prices from $595k to over $1M.  Flat, wooded lot with plenty of potential.  Located 2 blocks from most prestigious school in Northern Virginia: Thomas Jefferson High School for Science and Technology.

Hi everybody! I'm a real estate agent in Northern Virginia where my primary focus is on SFH. As an investor I'm interested in rehab flips, rent to own and anxious to learn more about subject to. Longer term I'll be looking for multiunits with first floor retail in the Fredericksburg, Richmond, Tidewater areas.

@Robin Hunter Do you work as far north as Lansing and Leavenworth?  Are you finding any deals up there?  

@David Cantrell Welcome aboard!  I'm interested in doing some deals in Tidewater too.  Let me know...

@Brandon 

What a great deal!  Well done.

@Michael Hill Welcome to BP!  We're in NOVA too: Dan Hill with WildRover Associates.

I was recently advised by a CPA that using a SD-IRA defeated the purpose of investing in real estate, at least from a tax perspective. Depreciation and other deductible expenses (eg., costs of ownership, travel to the property for inspections) are not allowed if the property is held within the SD-IRA. In addition, capital gains tax rates do not apply because distributions will be taxed at regular income rate. Does not apply for a Roth IRA of course but then not all SD-IRA accounts are Roth. Still, the other tax consequences come into play.

Thanks Jacob!  I'll check them out...

Sounds interesting.  Like Ryan and James said before: you have the leads - we have the buyers.  Let's work a deal and make some money.  Location is irrelevant because the solution is the same anywhere: get a team together to assess the property and determine whether it is a go or no go.  PM me so we can start a dialogue.

Can somebody please tell me what a yellow letter is?  Lots of references to them in the posts but what are they?