All Forum Posts by: Ken Badziak

I'm looking at a commercial property that I think could be an excellent candidate for an ALF. Problem is, I don't know anything about Assisted Living Facilities.

I'm hoping someone in the FLL area can give me some guidance on the subject.

Thanks BP Nation!

thanks. Figured that was prolly the case!

Can those of us without access to the MLS search for expired listings elsewhere? Or do we have to buddy up with a realtor?

@Henry Garcia, welcome to South Florida! There's a great weekly networking event at the Denny's on Poweline & Oakland Park Blvd, every Thursday. Stop by and introduce yourself; there are plenty of investors/landlords there who can likely use your skill set!

http://reandb.com

Loren, that's what I thought. Thanks!

I'm looking to enter a JV using funds in my SDIRA. I want an attorney to look over all the documents.

Does this attorney need to be paid with funds pulled from the IRA, or can I just pay him myself?

@Logan Allec, I have not given notes much thought, but what you wrote does make sense. I need to look into that avenue some more. Do you have any information or some links I can read through? Thanks!

Looking for input from the BP Nation.

I've got about $50k sitting in a SD Roth IRA. I want to deploy said money to start purchasing some cash flowing units.

Although I'm down in South Florida, I'm looking mostly to start investing up in Ohio; I feel I can get far better bang for my buck up there than I currently can down here in the Miami area. Although I plan on subbing out the PM to a local guy up in Cleveland, the company I work for has direct flights daily, so getting to and from wouldn't be an issue.

So the question I have is this; would it be better to use the money in the account to purchase a SFR outright and collect the cashflow, building up enough capital to purchase another then another house, or would it be a better idea to leverage out that money and pick up a couple of units (or maybe even a quad or two?) and put the properties under a 30 year mortgage?

I'm not a tax expert, so I would have to find someone I can work with on that end (as I'm currently shopping for a new CPA anyways) but I know that one can hold a mortgage inside of an SDIRA, it just becomes more complicated.

So what would you do? Use the roughly $50k to purchase a single unit outright, or split it up for multiple down payments and purchase a few units?

 I haven't yet purchased my first rental, but I also factor in PM costs into each analysis; even if the property will be local, eventually I'd like to hand over the property management functions over to someone else.

Thanks for the reply; I genuinely did not know the specifics, which is why I seemed clarification here.

The HUD-1 is a great idea, I'll try to ask the new owners!

Thanks again!