All Forum Posts by: Joe Archbold

Larry,

That is where we are at. the deeper you get the more questions there are.  I am trying to understand the custodian and an agent, what fees to whom, etc... 

The Self Directed IRAs do not seem to be clear in the "How To" area.

Is there a SDIRA that you recommend?

Thanks,

Joe

Hey BP friends,

Does anyone have history/ success using self directed IRA funds to partner in long term hold. My primary interest is for using 3rd party for a Non-secured promissory note to purchase Multi unit buildings. Giving them a consistent rate of return with no involvement to my business. I have had several parties interested and we have been sifting through the self directed IRA detail but it is very cumbersome and unclear.

Thanks,

Joe 

Frances,

I have had very good success using mold removal products from Home Depot or Menards.

I bought the mold removal concentrate ( Concrobium Mold Control), gloves, a good respirator, mask, and a pump sprayer.  I also used a bunch of rags for clean up and heavy duty garbage bags.  
All in about $75-$100.  Mold mitigation companies start talking about estimates like $1000 or getting an engineer in to build a scope of work blah blah blah. Its a huge sucking sound on your wallet for sure.  If the building is worth pursuing don't let the mold scare you. We are all in this to make money but you do need to mitigate the situation so you do not have problems down the road.

Good Luck,

Jeff,

"So who are these guys?" I have several 3 units and the tenants are all different: some older, some small families, for some its their first place, and some divorced and making it work. They are attracted for different reasons. Hopefully that means- its clean, safe, close to town, convenient etc. 

The trick, even if the numbers work, is to get good tenants either yourself or through a service. I have personally met every tenant that I have on-boarded. It takes time but it is worth it if you are going to occupy it.

Good Luck,

Joe