All Forum Posts by: Franklin Romine
Franklin Romine has started 15 posts and replied 1795 times.
Post: 6 vs 9 vs 12 year water heaters? Which is best?
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
Buy the cheapest and nearest located water heater when you need it.
Post: Why isn't everyone buying and renting mobile homes? what am I missing?
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
I personally rather rent the dirt to the person that owns the mobile.
Post: Brand new and looking for options/direction
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
I would stay local on the first few deals.
Post: Lessons I have learned from owning & managing SFR's
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
Good insight
Post: Tenant Interested In Buying Property
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
A good realtor should give you a value at no charge. I've done it many of times. So try calling around. Don't get sold on a realtor trying to charge you, its pretty simple to run comps and dissect data. Personally speaking from a being a realtor.
Post: How does that BRRR "Repeat" work exactly?
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
A sound purchase and appreciating market is key when using this strategy.
Post: Self directed ira to buy currently owned properties
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
thanks…. Good to know.
Originally posted by @Brian Eastman:
What you have recommended would not fly. In the event of an audit, the IRS would view that friend as a "straw buyer" and still see the underlying transaction as between the IRA and the IRA account holder. The entire IRA would be deemed distributed, taxable, and penalized as a result of such a prohibited transaction.
Post: Tenants want to hang own curtain rods
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
I would let them hang them. It’s really the least of our problems being a landlord.
Post: Self directed ira to buy currently owned properties
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
Possibly sell subject to existing mortgage to a friend and then have IRA buy from friend?
Post: Telling Tenants You're the Property Manager
- Visalia-Fresno, CA
- Posts 1,843
- Votes 863
We eliminated that problem. We do not accept paper currency. Everyone pays online with Checking Account, debit or credit card.