All Forum Posts by: Robyn Green

@Lynne Smith

Great summary of what happens in the SDIRA!!!

@Eric Schwake

The IRS says you have to form an LLC to buy real estate in the self directed IRA.

I heard Matt speak at a real estate club meeting, I bought and read his book and decided since he knew what he was doing I would hire him.  I don't remember what he charges but you can call his office and get a price.  

I was nervous since it was my first deal and I was dealing with the IRS (come on they are a little scary) so I wanted to make sure EVERYTHING was done by the book.  So far no problems as long as you follow their rules.

Eric,

I have used a self directed IRA to purchase two condos. I would recommend you read, "The Self Directed IRA Handbook" by Matt Sorensen. Easy read, easy to understand. There are certain rules the IRS has for holding real estate in your IRA. I also had the author Matt Sorensen ( he is an attorney) set up my LLC for the IRA, per IRS rules.

I live in an area of appreciation more than cash flow so in the three years of owning these condos their value has doubled. This is tax free if I choose to sell and capture the equity. These are my first rentals, I'm a newbie, I wanted to own real estate and I didn't have the cash to purchase them even with a loan so I choose this route. So far I have been very happy with using the IRA.

I don't know if getting mortgages on these properties so I could claim depreciation would have been a better option but as I said I didn't have the cash to go that route. So the IRA was what I choose.

Good Luck with whatever route you choose.

So rent control for California will be on the ballot in November.  I'm trying to decide if I should sell or just wait to see if it passes.  Any ideas??

http://www.sacbee.com/news/politics-government/capitol-alert/article209616104.html

Thank you Sharad, it's great to have input from people who are actually doing it. Even if I am in a different market.

Thank you Eric, I guess we need to decide on what we want for monthly cash flow.

Hi we are looking to buy our first rental property, what price range do you use when buying a rental? Market, 90%, 80%, 70% ARV? I realize situations are different but just as a "general" rule? Thank you, Robyn Green