All Forum Posts by: Riley Schaefer

I believe you have to finance under your own name with conventional financing, then quit claim deed to an LLC. That's what I've done.

@Justin Windham What do you charge to set up and manage a SDIRA?  Thanks

@Aaron Moayed I like OH & MO, and probably since I have real world experience in those states. Excellent rent to price ratio, low taxes, landlord friendly laws, pop & economic growth. I've been consistently finding turnkey homes with a 15%-25% coc ROI here.

@Victoria S. Yes I just bought 3 homes through a SDIRA with Rent To Retirement.  Benefits would be being able to use a retirement vehicle to invest in RE.  A creative way to move money from the stock market to RE & still have tax shelter.  Down side would be having to keep the money in the SDIRA, not as favorable loan options (non-recourse required) & possible UBIT tax on SDIRA, not solo 401(k) from what I understand.  Hope this helps.

@Suzie Remilien Nice job holding yourself accountable on your goals!  That is what it takes to build a long term portfolio.  Are you looking at investing in other states than FL?   I've done well in OH & MO so far.

@Takahito Torimoto What markets are you looking to invest in?  I've been very successful in OH & MO so far with building a passive income portfolio.  All these I've bought turnkey so they are pretty hands off.  I've found that to be a good way to get involved in a market you're not local to & to mitigate your risk.  Let me know if you have questions on this at all.

@Timothy Swaan My plan isn't overly complicated, but I think where most people fall short is simply not CONSISTENTLY following their plan year after year!  Right now I have 8 SFRs that cash flow $250-$350/month net (actually more when I don't have any vacancy or maintenance).  I also have 4 SFRs I own outright with no mortgage that cash flow $700-$1,000/month net.  Three of these I bought through my SDIRA, and the other one I've used the cash flow from my whole portfolio to aggressively pay down the mortgage on over the past year.  This accelerated debt pay down strategy really helps to increase cash flow without having to own a huge portfolio.  My plan for this year is to acquire at least two more homes, and to pay one more property off.  Each time I add another property to my portfolio & pay another one off, my income increases to be able to use as a downpayment for another home, or to put towards paying another one off.  It becomes easier & easier every year as my income increases.  Within a few more years I should be at $10K to $12K per month from passive income, which is the goal I've set for myself to quit my job and actually retire!  Zach & his team have been an essential part in helping me to develop this strategy, and most effectively execute it to make my passive income goals a reality!!  I Never would have thought I would be where I am today a few years ago, but it all starts with that first investment property.  Can't thank these guys enough!

@Josh Rogers @Brett Veasey @Danny Randolph

I've also invested with them for a couple years now and own multiple properties.  I've very impressed by how responsive the team is even as my portfolio grows!  I've only had a few maintenance items that have come up, but that goes along with owning rental real estate.  My other homes have long term tenants, and I haven't had any maintenance calls yet!  So on those ones my returns & cash flow are way higher than anticipated!  I plan to purchase a few more this year.  Zach has been a tremendous mentor in helping me map out my financial blueprint on how to achieve my passive income goals.  I'm currently at about $5,500 per month, and my goal is to get to $7,000 by the end of this year.  He's helped me invest using a SDIRA & even access private money!  Can't recommend them enough if you're looking for a solid team to help you build your passive income portfolio in cash flow markets!!

Good plan! I invest in OH & MO. Both excellent states. My only thought is what are you doing for financing? LLC comes after owning the homes if buying conventional. Not before. Good luck!

Sounds like my philosophy of "always be buying"!  That is what you need to do to ultimately build a large portfolio!