All Forum Posts by: Helen Kirk

I have 75K in a Roth IRA that I'm considering rolling over into a SDIRA Roth Ira. I just turned 59-1/2, so could take all of that out and use it tax and penalty free without setting up a SDIRA. Would it be more advantageous to go the SDIRA route and let any passive income grow tax free or to take it out and use it in my LLC which isn't tax free. I have a couple of rentals, but I'd really like to start flipping houses so I can make a profit without becoming more of a landlord than I already am. I'm concerned that with a SDIRA, the income has to be passive.... which a flip isn't. Thoughts?

Please be advised that tonight's meeting has been cancelled due to lack of participation.  We will plan on holding one next month.  

Hi everyone.  Last month we didn't have very many attend our meeting, but the ones that came had a lively discussion, and we viewed a short video on real estate investment basics.  We are planning our next meeting for this coming Wednesday, July 6th at 6pm.  It will be in Opelika at 1900 Cunningham Drive (the AMSTI building).  We have a large room with a smart board and internet access.  

Two of our members are going to a tax deed sale in Georgia on Tuesday, and will let us know how it went.  There is an auction scheduled for the Lee County courthouse steps on July 15th, and Hollie and I went around to view some of these properties.  There were a couple of abandoned properties that are up for auction, and one of them was exceptionally nice, with hardly any rehab needed, in a very nice area.  We will be discussing this also, so come to the meeting, and lets get talking! 

Please RSVP so we can have an idea of how many will be attending.

I've given the matter some thought.  I wouldn't be adverse to getting licensed, since I am sure the education would be worthwhile, but I have a question regarding brokers.  If you have a real estate license, are you required to be "registered" or working with a broker or can you be licensed on your own without belonging to a brokerage?

Lee County Alabama doesn't require a deposit when you bid at the courthouse steps.  I won a property at auction there in April.  If you don't come up with the money in 1-2 business days, they go to the next highest bidder and offer the bidder the property at their last bid amount.  I've heard that if you bid, win and regularly pass on paying within the 1-2 business days, you will be banned from bidding at the courthouse steps (in Lee County, that is).

@Alex Chin - If that was downtown Auburn, AL, I would have jumped all over it! We are a college town and everything downtown is at a minimum 100K, unless you get lucky with a REO, forclosure, or estate sale.

Oh.... Auburn NY, not Auburn AL.

@Jimmie Dickey we are meeting tonight at 1900 Cunningham Dr., Opelika, AL 36801 in the AMSTI building.  I know your time is limited, but if you can stop by, we will be there from about 6:30pm to 7:30 or 8:00pm.

@Wayne Hinton we are meeting tonight at 1900 Cunningham Drive, Opelika, AL 36801 at the AMSTI building at 6:30pm.  If you are in the area we hope you will drop by.

Helen

Just a reminder for everyone that we are meeting tonight at 1900 Cunningham Drive, Opelika AL, 36830 at the AMSTI building.

I would like to discuss moving the meetings to later in the month.  If we had the meetings the last week of the month, then we could discuss the Courthouse Step auctions that occur on the First Friday of each month.

Any discussion on this in the BP forum?