All Forum Posts by: Ned Carey

@Jerry Chilimidos

@Dmitriy Fomichenko Is an expert in this field. He called it UBIT. Which is a tax when you do an active business in your IRA but it is essentially the same thing.

@Jerry Chilimidos I am not a CPA owever my understanding is any loans to your IRA can not be personally guaranteed. Also there is an additional tax on the returns due to the financing.

From an internet search
"Unrelated Debt-Financed Income (UDFI) is a tax that applies to an IRA when it uses debt"

@Paul Tee I can’t answer your question but welcome to BP

Welcome back @Sabrina Shaulis

One of my beliefs is knowing your market very well helps build the confidence to act. Look at Lots of properties to learn your market. By that I mean listed properties, for sale by owner, open houses, wholesalers deals, and any other investors deals that they will show you. When you know your market extremely well. It becomes clear which are the really good deals. 

Good luck

@Patrick G. Welcome to BP.

there are plenty of people here willing and able to help you learn. Good luck.

@Eric Formiller Welcome to BP.

I love what @Michael Quarles Said “You don’t know what you don’t know yet” don’t be in a hurry to do a deal. Make sure you do a deal that makes sense. 
by the way Michael is a good person to follow here about marketing. He has shared a lot of good information. 

@Dillon Seal Welcome to BP. We’re glad to have you. 

@Patrick Roberts I think there is some strategy to this. If you notice these you can report them by clicking the three dots at the bottom of a post  
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@Shaheen Ahmed Welcome to BP. There are lots of people here to help you get started. 

 Michael,

Understood and agree. I wanted to keep my post short so didn’t want to get into that. My guess is you had the money to put down if you needed too but you were trying to conserve cash. That’s totally reasonable. 
my point is so many here seem to believe they can have a sustainable business without any money. While theoretically possible maybe 1 in 10,000 can do it.