All Forum Posts by: Linda Lai

Hi everyone who made comments.  It's very helpful and greatly appreciated.

@Kevin Darrell I'm also interested in Tampa area.  I'd like to connect with you and talk about the market.

Oh? thank you, Brian.

There is a lot of discussion about prohibited transactions using an IRA to fund a purchase of properties, and non-recourse loans to finance an IRA purchase. I'm considering using the fund in my IRA account for down payment; financing the balance of the purchase price by a LLC (I'm the only member of the LLC). The property will be owned jointly by IRA custodian FBO me and the LLC. I will borrow with my personal guarantee. This structure of joint ownership of IRA and LLC may solve the issues of UBIT and non-recourse loans. I'm not sure if this structure will constitute "prohibited transactions" under IRS rules. Any thoughts or suggestions will be greatly appreciated.

Hello BP Community,

My name is Linda; I’m a new investor from California. My goal is to buy and hold for rental income. I’d like to start with single family homes or small multi-family houses in Orlando, FL. I’ve saved some money and am open to partner with local investors. I’d appreciate it very much for any advice or recommendations as to how to start, type of properties to buy, which neighborhood is more attractive for rentals, etc.

Any recommendations will be greatly appreciated!

Hi Minh,

RealtyShares is a crowdfunding platform that brings borrowers and investors (lenders) together similar to Lending Club. The difference is RealtyShares investors will buy notes/loans (i.e. debt securities) secured by real estate property; while the Lending Club investors buy notes without any collateral to secure the loans, which means if the borrower defaults on the loan, the investor has no way to get his money back. If you are interested in buying paper assets (i.e. stock, bond, debt securities, etc.), RealtyShares will be better choice than Lending Club in my opinion.

Linda

Erika,

I'm a newbie in RE investing. I'm thinking of buying a property in Las Vegas for my retirement. I'd love to connect with you to get a sense of the local housing market and inventory in the area.

@ Naseer Khan and @ Omar Merced, thanks for the help and the offers. 

@Justin Windham, 

Thank you for your comments.  I'll certainly consult tax & real estate professionals to properly structure the entity which will hold the property.

@Mark Nolan, thanks for the info.  It's greatly appreciated.

@Brian Eastman, thank you for your reply with additional tax consideration. I have a question regarding structuring a partnership of IRA with a non-retirement account. Can I have the down payment from the IRS account and set up a S corporation to borrow the remaining purchase price? The income allocated to the corporation can be off set by expenses. Any thoughts?