All Forum Posts by: Michael Lleverino

@Dawn Anastasi

Thank you! I'm actually in the process of discussing my RE plans with an old friend of mine who has since become an agent.

@matt devincenzo, @jon holdman, @dennis tierney,

Thank you for your feedback on this. This is great! I also kept reading the Related Discussions on this same topic.

Sounds like other investors are also shying away from holding B&M RE in the SDIRAs because you can't leverage unless they have a non-recourse loan, which sounds like they're difficult to find.

That said, I'll probably use the SDIRA for note investing and private lending, while keeping the B&M RE on the outside (LLC under my name????)

Thanks again everyone.

SD IRAs - I'm considering establishing a SD IRA (TX) to buy rental and flip properties, but first wanted to get some feedback from the BP family to better understand any challenges buying through this medium. Basically, should I buy outright or through the SD IRA? Any feedback/insight will be greatly appreciated.

Jean, Beau,

Thank you for your responses. I'm going to set you up as my wholesalers for the area. As soon as I get my financing/funds "squared away", I'll get with you and see what's available. I really want to stay away from banks and give the opportunities to fund my investments to private lenders. If you know/recommend of any private lenders (short and long term loans), please let me know.

Thanks again and I look forward to working with you.

Michael L.

Wholesalers,

Please contact me if you're a wholesaler in the Austin, TX and surrounding areas. I'd like to start working with you and seeing what all you may have to sell.

Mlleverino

Wholesalers,

Please contact me if you're a wholesaler in the Austin, TX and surrounding areas. I'd like to start working with you and seeing what all you may have to sell.

Mlleverino

Hello BP,

Really exited to have found this forum. I've been reading many of the posts and sure see plenty of creative ideas to make investments work.
As for my real estate experience, I've had the opportunity to own condos (x2), 4-plexes (x3), SFR (x1) and a 3-plex. All have been sold except the SFR which I have rented out. Financing was done through normal lender (bank) channels so nothing fancy or creative there. All this was done while holding a full time job.
I want to change this now. I want to commit to RE on a full time basis, meaning RE will now provide my income. That said, I first want to learn the business of flipping so that I can begin bringing income short-term. As I build up my funds, I'll be buying rental properties as long-term income generators.
Underlying questions I have are in getting my journey started are...
1) if I were to find a property from a motivated seller (and I have the cash to buy the property at that point in time), what type of contract would I have the seller sign? Where would I get this contract (for properties in TX)?
2) Once the contract is signed, do I work with a RE Agent to get it closed

These are just a couple of questions that I have now, but I'm certain more will follow.
Look forward to working with the BP family.
Mlleverino