All Forum Posts by: Glenn Gray

I have a self directed ira (SDIRA) and self managed LLC, where I have cash in the checking account. Currently it's earning no return. I'm considering moving the funds to a stock brokerage account for greater returns, as I await a real estate investment opportunity.

Suggestions on a brokerage and type of account that should be established (IRA, LLC)?

@Evan Kraus Hi, where could one learn more about investing in Mortgages? I too utilize a SDIRA, and might consider using Mortgages as an investment opportunity, but need to learn about them first.

Thanks

Can you describe what the term "turn key" is?

Hi Ben,

My custodian is New Direction IRA and they are located in Louisville, CO. I recommend them. I preferred the face-to-face interaction over Equity Trust. Plus my experience with Equity Trust gave me the impression that they are very segmented - dividing each little responsibility into departments. I established an account with them and later transferred, because I could never get a strait answer from one person. It seemed every question I had, I was referred to another department, as if no one knew how all things worked or at least worked together.

I'd be happy to discuss the experiences and how I us my SDIRA in more detail. Feel free to send a connect request.

Glenn

Forgot to state, that no capex costs were included because the condition of the unit appears rent ready, with appliances, fixtures, good flooring, paint, etc. It appears move in ready. If something doesn't meet that expectation during more thorough inspections, then the purchase price can potentially be renegotiated down. It's all the same since it's a cash purchase.

JT, I preferred to provide the link so that the contact is nicely displayed. All formatting of the .pdf would be lost if I pasted the text content into the message body.

Yes, I'm forecasting a cash purchase, hence no details for loan amount. I'm not in a position obtain financing, and many lenders don't bother with < $50k loans. You may be thinking why not finance 100%, well, it's non-ooc so I doubt a lender will go for 100% LTV.

Just wanted to bounce this off of a sounding board, to see what the competition....i mean peers...think :)

Deal Analysis

Thanks for the advice @Grant P. but the 1st Bank program isn't going to be an option for me. In a conversation I had with a loan agent, it was made clear that the borrower must have NO negative credit. Makes no sense to me, since it's a non-recourse program.

It's seeming rather hopeless to find reasonable financing for my strategy.

retirement based real estate loan

I LOCATED THE ABOVE PRODUCT FROM 1ST BANK BUT COULDNT QUALIFY BECAUSE MY CREDIT SCORE DOESNT EXCEED 680.

FYI, Aurora is a Denver, CO suburb.