All Forum Posts by: Erik Sherburne

Thanks everyone for your help!

Unless you are saying that I could do that with a "disqualified" individual.

Thank you both!  It does sound like they would be disqualified.  Can you tell me more about a non-recourse loan?  Or point me in the right direction for some info about it?

We are looking to buy a properties that family members were rent. We are going to seek our typical C on C return criteria but will still get a better return than the stock market - IMO. With that, I was thinking our putting this family rental in a self directed IRA but we don't have quite enough in there for the down payment, etc. Can we use all of that and also some other money outside of the IRA?

Thanks,

Erik

Anyone ever been denied a loan (in the 11th hour) for:

"Ineligible due to the lack of Building Ordinance or Law Endorsement on the HOA s Policy"

I suddenly can't close on Friday?!?

Thanks everyone for the quick replies and whereas I did give them notice they were only supposed to be without power for ~6 hours not 14 during the day while they are at work.  At that point, they could lose food in the freezer, they are home at night trying to relax and don't have air, cable, internet to decompress for the day.   

I had to get a large elm tree taken down (dutch elm) and it was near the power lines coming to the house.   Through no fault of their own they didn't have power for most of the day (8:00am to 10:00pm - Long delay in the power company coming back more than the 5-7 hours originally expected).   I did give them plenty of notice and yet I feel responsible for inconveniencing them - no air conditioning, fridge/freezer, they had to eat out, etc. etc.  How do I "make it right"?   Rent credit for food lost in the fridge?   Target gift certificate?   Restaurant gift certificate?

Thanks in advance!

-Erik

Great job, thanks for sharing!  I know one of the inspirations for me was to add rental properties as passive income to support my wonderful wife and kids.   We got out first rental shortly after having our second girl!  Keep it up!

Congrats, Andrew!   Once you get going it just get's more and more exciting.  Best of luck!

@Cory Iannacone  Impressive - looks great!  Thanks for sharing the backstory!