All Forum Posts by: Jeff Piscioniere

I agree with @Avery Carl!  I own a cabin in Gatlinburg and self manage and I've had nothing but good experiences with the booking sites (Airbnb, VRBO, and TripAdvisor)  I also agree that maybe the part of the country makes a difference.  Airbnb kicks but for me!!!  I would caution @John Underwood of this regional difference also because I notice most of your comments are almost always negative towards Airbnb.

Christopher Cousin Thank you! I will reach out to and hopefully connect with Bernard as soon I get a chance to sit in front of a keyboard and message him. He appears to be a New Yorker so myself living in CT he might have a good grasp on some local laws here.

George Blower to be perfectly honest with you, I've never flipped before but I'm trying to research the various avenues to invest a SDIRA. I've been talking with possible partners and I have a mentor of sorts who flips. Knowing that flips are supposed to happen quickly I would imagine a volume of 2-4 per year to make it worth it but based on what's been discussed here, that sounds like red lights would go up that the IRS might take notice of. Unless I'm missing something, flipping doesn't appear to be the route to follow unfortunately.

Jessica Zolotorofe I currently own a vacation rental which I manage myself using Airbnb, TripAdvisor, and VRBO. In your opinion would you see any reason that I could not still manage a VR in a SDIRA in the same manner? I would not be benefitting in any way and the growth of my IRA would clearly be the reason to manage myself. From what I've read, any activity to promote the growth of the IRA bottom line would be a permitted activity. By the way, I'm currently reading The Checkbook IRA by Adam Bergman. Have you ever heard of it?

Hello everyone! Has anyone done or thought of attempting buying vacation rentals through the investment of a self-directed IRA? Specifically, I have been researching the concept of a self-directed IRA LLC with checkbook control. This for all intents and purposes is a bank account in the name of your IRA LLC where you literally have a checkbook/debit card to invest in alternative investments one of which is real estate. Of course there is list of extensive IRS rules you must abide by but they are generally straight forward. I'm getting close to the point where I will be looking for "facilitators" (accountant; tax lawyers) that will help me roll over funds and set it up but I've yet to determine the best aspect of real estate investing to focus on. Any input will be greatly appreciated with regards to the focus on vacation rentals or if anyone has knowledge of the set up process with creating a self-directed IRA LLC with checkbook control including what that process may cost. Thank you in advance! Jeff

Thank you gentleman greatly for reminding me of this concept of engaging in a regular business within a SDIRA. I had forgotten about that. My next question would be what is the frequency of flipping that would suffice enough to NOT set off whistles of engaging in a business? @Brian Eastman, what type of time frame would qualify for this concept of "hybrid flipping"? Thank you again!

Hello everyone! Has anyone done or thought of attempting house flipping through the investment of a self-directed IRA? Specifically, I have been researching the concept of a self-directed IRA LLC with checkbook control. This for all intents and purposes is a bank account in the name of your IRA LLC where you literally have a checkbook/debit card to invest in alternative investments one of which is real estate. Of course there is list of extensive IRS rules you must abide by but they are generally straight forward. I'm getting close to the point where I will be looking for "facilitators" (accountant; tax lawyers) that will help me roll over funds and set it up but I've yet to determine the best aspect of real estate investing to focus on. Any input will be greatly appreciated with regards to flipping or if anyone has knowledge of the set up process with creating a self-directed IRA LLC with checkbook control including what that process may cost. Thank you in advance! Jeff

@Abhinav Agarwal  I'm sorry I did not reply sooner but I must have missed it.  This is the group we used and will hopefully use again in the near future.  They know the VR industry front and back.

http://smokymountainrealestatecorp.com/

Hope that gives you a start.

Jeff

Hi @Brian Cremer.  Are you at all open to a VR in the Smoky Mountains?  Are you looking to purchase something just for an investment or something you will use often?  We own a cabin in Gatlinburg and aside from some minimal downtime when the kids head back to school and just after the holidays, we are rented almost all the time.  Let me know if you want any names of realtors and we'd be happy to share the agency we worked with. 

Good luck!

Jeff

Hi Jeremy, I'm a cabin owner in Gatlinburg. I've not heard of that condo resort. If you're worried about VR in Gatlinburg, don't. It's one of the most renowned VR locations in the country. There are a legit 12months per year of volume also. I use Airbnb, VRBO, and TripAdvisor/Flipkey. You only have a few down times per year, September when the kids go back to school, and briefly after New Years. If it's cold and snowy you'd be shocked at the number of people who come to Ober to ski during the winter! How big of a unit are you considering?