All Forum Posts by: Mike M.

Thanks all!  Was a good test of my understanding.  

@Brian Eastman

Found the article again.  I don't think I misinterpreted:  "You cannot sell your property before the age of 59½ without early withdrawal penalties."  Don't know if this link will get moderated out, but it is here.  I think it just doesn't tell the whole story.  Sure, if you sell the property and try to take the proceeds out, you get penalized, but if you keep it in the account, you're fine (all else equal, and no tax landmine stepped on, of course). 

Was reading a blog post that indicated that if you own a property in an SDIRA, you cannot sell the property until you are 59 1/2.  Is that wrong/misleading?  I would think you could sell the property as long as all of the proceeds go back into the SDIRA.  Then you could buy another.

That's perfect.  Thanks!

Has due diligence as a service made its way to the realm of multifamily?  I see this in the financial and information security space, but wonder if it has hit real estate.  I don't have a need at this point, but I'm just curious.  For those not familiar with the aaS (as a service) model, in this context it would be a firm that takes on the responsibility of performing due diligence on a deal - perhaps being compensated on a percentage of a successful offer reduction (maybe contingency or fee plus).  

Thanks for the reply. My understanding is the Series LLC are not uniformly recognized - still a little unproven. Is that not a concern any longer? I am starting to look for a real estate attorney, though.

I'm getting to the point where I need to take my learning to the next level and just start taking action. I'm targeting small multi-family, but I have a paranoia about not having my entity setup properly before I even start talking with anyone.  Where is the line between how much I can do under my own name and where I need the entity?  I don't want to get to the threshold of a deal and then make a change of entity and have some liability creep up because I did too much under my own name.  I also don't want to get started and have someone say "you're not serious because you haven't even thought about your entity structure".  Am I over-complicating?