All Forum Posts by: Jeff Harvick

I heard about this journal on episode 307. Came right home and ordered! That podcast hit me square in the face; realized I have all of these “wishes” that need to become reality. Looking forward to starting the year off on the right track with a little GPS+A. Great work Brandon and Dave.

@Ned Carey, @Brian Eastman Thanks so much for the reply and information. I figured there had to be some restrictions and thought BP would be a great place to start the conversation. I’ll reach out to our CPA and plan administrators to ensure we are in compliance and how to proceed with our real estate investment strategy.

My wife and I are getting close to being ready to become real estate investors. She works full time in the oil and gas industry and I run our small business (which is currently for sale). A little background on our story....We started our small business by creating a C-Corp with a transfer of funds from my IRA. The C-Corp is owned by our “retirement “ account. With the funds, we purchased a franchise with the anticipation of putting profits from the business back into the retirement account. Unfortunately, we haven’t made any profits from the franchise. Therefore, we have the business for sale and hopefully the new owner will find a way to profitability. We, however, have no interest in staying in the franchise business. We have discussed owning rental property for quite sometime and we are ready to begin the search but would like some feedback on how to structure the deals. Here’s what I’m thinking- 1) Create a new LLC for my wife and I for rental property. 2) have our C-Corp purchase a rehab SFH. *** I’ve been told that since the funds from our IRA started the C-Corp, the company can not own passive income investments. 3) C-Corp rehabs the property. 4) C-Corp sells the rehabbed property to our new LLC slightly below market value. 5) New LLC turns rehabbed property into a rental property. Profits from the sale from C-Corp to LLC go back into the C-Corp to invest into additional properties. C-Corp May also simply flip houses and sell to retail buyers if LLC isn’t interested in acquiring for the rental portfolio. So, my question to the forum: Has anyone done this type of business structure before and your thoughts on strategy? Thanks for your time and feedback.