All Forum Posts by: Patrick Shawn Faherty

We were really excited to work with ProVision but after reading the fine print and asking more questions, we were really turned off.  The 2-3 month planning session will cost you $9,750 where they develop a strategy for you.  My concern with this is that it's immediately out of date as soon as any tax laws get passed, business changes, etc.  And if you need any updates, they will charge you for that.  They also of course charge for the taxes.  When I started to clarify all of this and asked for a schedule of fees including their billable hourly rate, how much our 2016 taxes would cost, and how much 2017 quarterly taxes would cost... I was told "we're probably not going to be a good fit for you at this time."  That seemed very shady to me that you can't disclose your fees and how much this is actually going to cost me after the enormous charge of a strategic plan that is stagnant.  If anyone knows of CPAs who do similar work to ProVision and are transparent, I would love to connect.

Anyone else invest with Holdfolio?  James do you have an update on how your experience has been with them?  I'm thinking of investing with them and have a call setup with them today to discuss.  I would really like to get some feedback from people who have invested with them.  Thanks.  

@Joshua D.

This is why I have encouraged so many people to go into HML. Even some agents in my office are now engaging in HML. Nobody is going to corner a market. I have certain customers that will stick with me. We have great relationships and two things I can count on: they keep their word and I keep mine. NEVER hurts to help others. One day I am sure one of them will say "thanks"..and that will be reward enough.

@Alex Sanfilippo @Patrick Shawn Faherty @Brandon Battle You might be referring to Amanda Han instead of Amy Tan? See https://www.biggerpockets.com/renewsblog/2016/02/18/bp-podcast-162pay-irs-amanda-hancpa/

Both my wife and I have set up an account with a self directed IRA provider that we are very happy with. They have been quick to close several types of transactions and things seem to flow smoothly with this firm. Since January we have:

1. Made one loan to an LLC for a commercial building,
2. Funded a flip property with a profit split, (just listed yesterday).
3. Bought a rental property with the intent of selling it to the curant renters, 
4. and bought a property that we will finish rehabbing Monday but have not decided if we want to flip, rent, or sell with owner financing.

Feel free to reach out to me if you are interested in opening a self directed IRA and want to get an idea what to expect from the process, I am not a service provider and do not have anything to sell but can give you an idea what to expect if you are considering a self directed IRA. I addition to the above you can also buy performing or non performing notes in an IRA or just about bout anything else (there are a few small exceptions like art work).