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All Forum Posts by: Lynn Burks

Lynn Burks has started 3 posts and replied 9 times.

@Steve Baldwin Sounds great.  I look forward to the new format and ramp up. I'm set up for Columbus as a keyword but let me know if there are any others to ensure to I get meet up info for Dublin. 

Thanks!

Question for any Bigger Pockets RE investors in the greater Columbus Ohio area:  

Are there any existing BP meetups in Columbus Ohio for us to connect face to face, build our networks, share experiences, etc..? If so, please share.

Continued success,

Lynn

Post: Self-directed IRA strategies

Lynn BurksPosted
  • Columbus, OH
  • Posts 9
  • Votes 2

Thanks for the great advice @Dmitriy Fomichenko  and @Jeff Barnes!  It definitely helps me focus my research and gives me clearer direction when setting my RE investment strategy. 

Continued Success!

Lynn

Post: Self-directed IRA strategies

Lynn BurksPosted
  • Columbus, OH
  • Posts 9
  • Votes 2

I'm just beginning my research of self-directed IRAs to determine how I will use it as a part of my RE investment strategy. My IRA is under 100k and I'm finding that custodian fees, not to mention the requirement to use and pay vendors market value for property mgmt (no sweat equity) may began to nickel and dime my IRA away.

Therefore, wondering if flipping to build the IRA vs. buy and hold may be the best strategy initially to avoid annual custodian fees and property mgmt cost since I don't have a lot to invest. Any thoughts?

@Dmitriy Fomichenko @Mehran K. Thanks for all of your insights to help me get started.

continued success to you all

@Christopher Hunter  Thanks for the welcome.

Hello, I'm fairly new to real estate investing. In Aug, I will sit for the Ohio RE sales agent exam with the goal of creating a strong portfolio of flips and rentals in the Columbus area.  

Excited to learn as much as I can and get a solid plan together. It seems my biggest hurdle may be learning how to use my IRA for investment purposes and understanding the legal and tax laws.