All Forum Posts by: Mark Zarragoitia

@George Blower Thank you, George.  That list is helpful.

To carry this a little further, I think I have an understanding of the process of purchasing real estate in a sdira but maybe I could get a few clarifications.  I will give specifics to make it easier for me to understand:

I wish to purchase a 2 unit property with a sdira.  The purchase price is 60k.  I want to use 20k in sdira funds as the down payment, the rest will be financed.  The property is fully occupied and the total rental income is 1500.

1. Do I just go to a bank for that loan in the iras name, does it have to be non-recourse?

I have the financing worked out, the deal goes through and the property needs some exterior cosmetic work, landscaping, painting, cleaning.

2.  Is it best to hire someone to do the work and then get a pm, or hire the pm and have them handle the work?

Any insight is always greatly appreciated.

@George Blower Thank you, George.  That is something to consider.

@Justin Windham Thank you.

I am ready to open a self-directed IRA but I don't think I need a checkbook IRA at this point. Is that something that I can convert to in the future if need be or is it now or never? Thanks.

BP is a one stop shop for someone that is new to REI and trying to learn as much as they can. I come here everyday to research and find something else that I can put into my plan of action. And every time I ask a question about something I get an immediate response from someone and usually four of five that help me see more than one side. Plus, it's a lot cheaper than the 50k that the guru wanted for the same insight.

@Brian Eastman

Thank you, Brian.  I appreciate the response.

Can anyone advise the advantages/disadvantages to having an advisory company versus just a custodian for a self-directed IRA. Is there double fees or does the custodian get paid through the advisory service?

Thank you, Judy

Thank you, Travis.  I signed up for that yesterday.  I'm looking forward to it.