All Forum Posts by: David Frol

Rajeev, two separate trust deeds would mean that one of us will be in the 1st position and the other one in the 2nd. My understanding that this would or could create a conflict of interest, don't you think so? So you think by having two separate notes would not be legal way to do it?

@Rajeev Kotyan

Both of these accounts are Roth IRAs. For my dad - these are the only funds he has available. I do have other retirement accounts, but they are none-Roth.

Could my dad's Roth IRA complete a transaction independently? I suppose if he found a trust deed for $10K, which is not easy. Could he complete THIS particular transaction independently? No, because all he has is $10K and the note is for $30K.

I see where this could be an issue if say I'm in the first position and he is in the second. But this is not the case. This is single 1st trust deed and both of our IRA's would be listed as beneficiaries on the deed of trust. And will have separate promissory note from the borrower ($20K for my Roth and $10K for his Roth).

So technically I'm lending by myself on a single note and he is lending by himself on a separate note. Does this help?

@Rajeev Kotyan

I have a question for you, I would like to invest in a trust deed with my father (who is 'disqualified person' for me, correct?). We want to partner on one trust deed, I invest $20,000 from my SD IRA and he invests $10,000 from his SD IRA. The amount of the note is $30,000.

Would this be OK, is there any issue with 'enabling' as you said in your comment earlier?

Mark, the link to the IRS Excel list in your blog post is quite old (about 4 years). Do you have a link to the updated list?

I'm trying to get some feedback for the individual above. Does anyone personally know Craig? done business with him? Is he real? 

He is claiming in his profile description that he was dealing with millions dollars worth of real estate and other assets, etc. etc., in other words a lot of hype. But there is no real information that supports his claims. He says that his company employs 50 people, yet he doesn't have a working website (at least I couldn't find one). His comments here are little odd (in my opinion), and the only info I could find online is that him and his wife defaulted on a loan and there was a judgment against them for $4.1MM

Thank you for any feedback you can provide. 

@Doreen Chaisson

If my ret. acct. owns less than 10% of the LLC and the role is simply passive investor, can I personally provide services to the LLC and be compensated for that?

@Mark Nolan

I am not the manager of the LLC, my IRA is passive investor in the LLC. And it owns less than 10% interest of the LLC.

My Roth IRA owns less than 10% interest in an LLC that invests in commercial real estate. One of the projects of the LLC is now completed and we are ready to list it.

Can I be the listing agent for this transaction since I own less then 49% interest in the LLC or would this still be a prohibited transaction?

Thank you in advance for your feedback!

@David Ramos 

Check out Nick Manfredi group. There are other groups as well, I suggest go to meetup and search there.

@Benjamin Lewis welcome to BP community!