All Forum Posts by: Account Closed

I could say just go talk to so and so but I want to be able to explain it to him.

So I would say something like:

1. Set up self-directed IRA

2. Set up an LLC and join it through your IRA

3. When I have a deal, you will extend me a mortgage through your LLC, and your LLC will have a trust deed.

More doors = more cash flow. IF you manage your financials

You won't look stupid with a lowball offer. The seller might be glad just to GET an offer. You can always raise your offer, but can't lower it.

Especially if you are using all cash.

I think of it in terms of $100 per door. Learn some creative financing and you can stretch $25k further.

Best of luck @Thierry Van Roy

I would be interested to know about the market there.

I recommend first setting goals for what you want your portfolio to look like, and what type of property you want to focus on.

Hi,

I know someone who wants to lend me money from his retirement account.

I have suggested that he set up a self-directed IRA, which could then put his money into an escrow account, where he could basically act as a mortgage broker, using his self-directed IRA to invest in trust deeds.

Would someone with knowledge and experience please provide more insight into this? I want to be able to walk him through it step by step.

Thank you

I currently own some rental properties. I purchased them turn key.

I am looking to do a rehab with hard money. Please work with me on the funding process:

1. Find a property, put it under contract contingent to inspection and financing

2. Do a BPO or appraisal based on ARV

3. Find a lender and provide them with BPO/appraisal, repairs, pictures

4. Close on the property and begin rehab

@Ann Bellamy

Yes that is correct. FNMA commercial loan on this.

Curious to know how much they will charge for 3rd party reports

I am looking to purchase a package of 50 homes through a FNMA program.

I am curious about how much the appraisal might cost.

Does anyone have a similar experience or insight?

They will likely just do drive by appraisals on a handful of houses. I am concerned that they might do every house and charge $100-$400 per house.

Thanks for the reply @David Beard

So, FNMA won't regard any multifamily loans?

Good to hear