All Forum Posts by: Ryan Mainwaring

@Ryan Evans Is the cash flow number you stated after capex, mortgage, vacancy, maintenance, property taxes, insurance and property management?

@Laura Gianiotis Great.  What type of property are you looking for?  There are a ton of options

@Laura Gianiotis Welcome.  What is your criteria for your buy and hold?  I ask because downtown is very different from suburbs 

 Are you asking about the private money lenders or conventional lender?

@Jordan Crosby Love to see another person from Columbus Ohio doing real estate.  We buy with private money because as you stated we can close fast.  If we are renting, we refinance with conventional loan.  Feel to pm if you would like to talk further

If you plan to put a conventional loan in your name, most banks require at least 6 months seasoning before you can refinance even if you rehabbed it.

@Jared Cauffield Please pm for my cash out refinance lender.   FYI, this lender is conventional loan lender

Hello,

We are a successful real estate investment company in Columbus, Ohio and are seeking additional private lenders to continue to grow our business.

We currently have an opportunity Franklinton area of Columbus, OH that we are looking for private financing for. The numbers are:

Price: $83,000

Repairs: $45,000

ARV: $180,000

Loan Amount: Seeking up to $128,000

We have successfully flipped over 60 properties in Columbus market and are looking to increase our volume and grow our buy hold business with the help of private lenders. Currently, our private money funds are tied up in other investments.

Since we have experience working with private money lenders, we can offer protection for you investment with low risk and a high return.

Please PM if your interested.

Thanks,

Ryan Mainwaring

Thank you for all the responses.  Please correct me if the below statement is incorrect:

If I want to use a self-directed IRA to purchase realestate, the IRA would own the property.

Could I do paid work for property or would I have to hire it out?

If you buy multiple properties under your IRA, if someone sues you on one of the properties, is the IRA only exposed or are you exposed entirely (like your 401k with company, etc)?

Context - My partner and I own an LLC that does Flips and Buy & Holds. I only perform managerial tasks such as checking in the job, accounting, etc but no sweat equity. My partner on the other hand, manages the project and contractors we hire, and does some of the work himself but we pay him for this work. Could I lend money to my LLC from my self directed IRA to fund our deals?

I ask because I thought it was illegal to use your IRA to purchase real estate you are involved in because a conflict of interest or indirect personal benefit is prohibited from the IRS perspective.

Does this only apply if you loan to your LLC and doesn't apply if you buy the property in your own name?

Thank you in advance for any responses