All Forum Posts by: Kevin Kaczmarek

Rich is having the freedom to do what you want, to inspire others, to live a life of purpose, and to love oneself.

I have been using my SDIRA and teaching the concept for some time now. I have actually done some speaking, coaching and mentoring on the topic and have created an ebook on the topic.

If anyone is heading to the Equity Trust Conference I would love to catch up and network. Self Directed IRA's are my passion.

Hi Kenneth.

I like your thought process.

I used to invest in securities on margin and found that the money was too expensive and too volatile to the risk of my owned securities in the market. I might suggest using your thought process but approaching banks that are willing to extend a line of credit against market securities. I have heard banks like Chase and Huntington are lending up to 50% of market securities value for you to do what you want with.

You might want that route as opposed to brokerage house margin. Would hate to see a margin call.

rates may stay low but who will they lend to? Just saw Jamie Dimon CEO of Chase on CNBC and he was pretty hard lined on keeping lending tight. That is a bearish sign for sure.

Welcome Larry.

This is an amazing forum for real estate investor networking. You will find a ton of great people on this site. I look forward to hearing more about your perspectives on real estate.

Kevin

I am finding the same dental work that Jon is lately with ETC.

While checkbook control sounds and I am sure a good option, I personally prefer that layer of 3rd party protection in my dealings with SDIRA's. No matter how experienced you are in IRA's, having a 3rd party help look over your shoulder will help accidents from occurring and having the IRA become disqualified.

Glad to be of help Maria.

In my opinion section 8 works in the Detroit area. I have been involved in a few section 8 rentals in Detroit and they were pretty automatic. So I don't have a bad section 8 Detroit experience as others have.

I do know the program takes time, requires hoops to be jumped through to get it going, but I think Jan will be a great help in making that happen. She specializes in your area and that product. I think you are in good hands!

I am not familiar with Castle Rouge. Is that near River Rouge?

Maria,

As much as everyone bashes Detroit there are opportunities for local investors to make things work. With that being said knowing you live nowhere near Detroit I would suggest you take the $30K offer. Investing in Detroit requires working with local companies that specialize in those properties and have references and a proven track record.
What neighborhood is the property in? There are several fantastic neighborhoods in Detroit that the average outsider would never know about. Indian Village, Sherwood Forest, Green Acres, and University District to name a few.

If you are losing sleep, cut your losses and move onto the next deal, preferably one closer to you.

Stinson,

I like your letter. It is short, to the point and calls for action. Think more like twitter and get right to the heart of the message to make an impact.
Conversely, Michael is very successful with the letters he sends out so you might want to send out both and see what kind of response you get from each. No one letter is the best. You are always looking to improve upon your last mailing.

Good luck!

Stephen to expand upon one of Chris' suggestions, look up Craigslist ad's in your area, and your local paper for "For Rent" ad's. Give the owner a call and see if they have considered selling the property. You would be surprised how often landlords are ready to do something. At that point its a matter of negotiation where you can really get into things.
Another tip, when you are talking to these landlords, don't be shy of asking if they are willing to finance you. Works sometimes and when they finance your purchase you can either put it in your portfolio or market to a bigger buyer pool. Hope this helps and makes sense.