All Forum Posts by: David Lee

I was wondering if I could start an LLC with my self directed IRA. I was considering purchasing property with the LLC and loaning money to purchase property in the LLC. Does anyone know if this can be done? If so does anyone have any info on it? Thanks in advanced David Lee

@Janice Ingle my father got started into buy and hold in the 80's. I started in 2001 with my own. He has 8 and I have but we have 2 together. Most likely the rest that we purchase will be together because it makes it easier.

@S. Perry

Most of these things are not that hard. Most of the time when I rent my places out I put them on facebook and have them rented in less than a week. I start this about week before I am completely ready to rent it out. Since I started using facebook it has not took more than a week. I use to use the newspaper and it would take a couple of weeks. I think that craigslist is a good idea as well. You should be able to find a handyman on CL but be sure that you check his references and his prior work. I have a copy of my rental agreement that I could send you and could use it or some of the things off of it if you think that might help. I am not sure of all of the laws in your state because I live in NC but with all of the information on this sight you should have no problem with that. Just let me know if you would like a copy of my rental agreement.

Nice one @ Bryan L.

@Daniel Dietz

I think that this is a great idea and something that I had not really thought of. Any information that you have that you could email to help me get started like this would be great. I have 4 property's that I rent out and would like more or possibly rent. I run across a lot where I am from but lack the funding. Any help you could give me would be appreciated. thanks David

@Steffan Daus

Welcome to BP. Be sure and Check out the free Ultimate Beginner's Guide to Real Estate Investing at

Locate and attend 3 different local REIA club meetings. Great place to gather people, resources and info.

I am a buy and hold investor from Lenoir NC about an hour and half from you. Looking forward to hearing about some of your dealings.

@Miranda Crown

I live in NC and rent is a little bit cheaper around $500.00 a month for a 3 bedroom 1 bath. I usually charge a $500.00 dollar deposit. I based it to equal one month's rent. I would make the deposit equal one month's rent. You can look at it like this your not keeping it unless something is damaged or they end up getting behind. You will have those that say that they can't afford that deposit but its a good sign that they will struggle paying the rent every month as well. But this is just my opinion and how I do it.

Welcome to BP @Bobby Lewis It is good to see some else from NC. What type of real estate are you interested in flipping, rehabbing, buy and hold?

I am looking at purchasing a multiple-family property that is $250,000. It has a house that rents at $800 a month. It has four two bedroom one bath apartments that rent for $450 a month each and two one bedroom one bath apartments that rent out for $350 each. That comes to $3300 a month. Any help would be appreciated. Thanks in advanced David

Thanks

@Jon Holdman