All Forum Posts by: Jim Peret

I try to never us a plumber. I use a good handyman for most stuff. For clogged drains I use certain drain cleaning companies and never a plumbing contractor. I only use a plumber where I must get a permit. My say is "licence plumber = licence to steal"  But good thing he taught you what he is all about on a small job.

I was on a webinar yesterday. He thought anybody selling in May was probably motivated and by July prices would be up again.??

Crowdfunding seeming like rolling the dice.. I never feel I can get enough information to know what and who I am investing my money with. But that just me..Maybe someone more knowledgeable does better.

My only experience with probate are my last two duplexes from a probate but a friend of the deceased told me about it. I did it all my mailings. So recently I found Probates online from Milwaukee Courts. But then I cross reference the deceased manually to the assessors office to see if he own property and if was something I would buy. Tried that two different time and got no where. Tried again today and seem to be getting somewhere. Still very time consuming. There are addresses of PR and beneficiary when no PR.  I could do mailing not sure if I'm up for calling in these situations.

Guess, my questions are. Can this be streamlined? Would mailing be worth while?  As for timing how long after a probate hits the courts should I mail?  Are they getting calls and mailing form many others?

I just checked their site. Kind of a crazy format. Bidding for leads. I'll follow your post and see if someone responds who know something about it. I've been mailing evictions from small landlord and no luck yet. I need more leads. I'm only doing a small area of Milwaukee where I want to own.  Good Luck 

This is something I considered and deciding against but it doesn't mean it was the correct decision. There are a few SD IRA experts on here and hopefully they reply to your post.

If Fundrise uses leverage then you have to pay UDIF taxes on the percent of profits your investment made from the borrowed money. It seems if the gains are less than 10k it's not bad. This is before you withdraw anything. So will those numbers be easy to get from Fundrise? The percentage changes every year as the debt decreases. My other my problem is very few CPA's understand SD IRA because they don't deal with them typically. The one really sharp one I found (and expensive unfortunately) is against owning real estate in an IRA because of extra taxes and not being able to use all right offs. He said I should do lending to flippers. Fundrise is not owning it directly but much of this is the same. I do own 2 rehab duplexes I paid cash for and I am looking for another with my SD IRA Checkbook.

What do you know about Fundrise?  There marketing seems good and they make it sound promising. I did get turned off by no contact phone number.  Just asking?

I'm opening myself up to being corrected here and probably will be but that's how you learn.

I met with a local syndicator and when I told him I wanted to invest with my SD IRA he lost interest. So I bought a couple rehab duplexes and rented them. Not quite as passive. I still have interest in syndications.

My analysis of using my SD IRA is the tax isn't bad if you keep your investment at 100k of less. I know it's based on your return not your investment . But not much of your return will be in the 37% unless they are really have huge returns. But which syndicators want to go the extra step to give you the tax info you need? Your tax based on your how much of your return is based on leverage. That changes every month as the syndicator pays down the loan. Also deprecation will be deducted and you'll need that amount ever year. (just asking)

Roth Ira suggestions-I have a little over 50K in my Roth. I could convert to SD IRA ROTH. I'd like to invest in real estate and take distributions equal to my cash flow. The distributions would be then tax free!!! I think I might be able to pick up as single family for 50K or a duplex for 100K with a 50k non recourse loan. But I don't want to spend the cash on the conversion and maybe not find anything? I need the conversion first to even make offers. Any suggestions??

Dale Sinder - Consider reading "The Self-Directed IRA Handbook" 2nd Edition by Mat Sorensen. Available on Amazon. These guys here are smart and helpful but a little self education and their help might get you really thinking.

I usually don't write so much but I'm impressed with this group.

@Teresa Machi

none of your money in the dead and 600 a month sounds pretty good to me. I can see 1895 a month rent but maybe I just have tunnel vision from dealing with 600ish rents for decades.

If I partner with someone buying two properties.  How do i set up the partnership? Who's name is on the offer? Who buys insurance? Do insurance companies care? Anything else to think of?