All Forum Posts by: Shane H.

@Marty Gold

Good Insurance Policy

@Marty Gold

As my friend @Aaron Bushell stated definitely shop around.  To add to Aaron's point I know of a bank that won't openly advertise it here, but if you have at least 70% loan to value and a stabilized asset they will lock in your rate for 10 years (it could be 15...I can't remember) but they will do that and amortize it over 25 years.  It's another fellow BP member and we've come close to doing a couple deals together but haven't been able to do so yet.  Anyways I did call the bank however I didnt have a deal that fit in their box on that but when I do I know where to look.

Requires a lot of phone time - but if you get the right person and relationships the lending is there...just requires a lot of cell phone minutes and chasing dead ends - eventually you'll find what you are looking for.

What I've seen is usually max amortization on a commercial type loan to an LLC or any other type of entity will be 15 or 20 yr amortization, rate locked for 3 or 5 years then adjustable - some banks if they are even more conservative will have a balloon payment at the end of 3 or 5 years or have a renewable loan.

30 yr loan will probably only come if you put the loan directly in your personal names.

@George Blower  I believe I did receive a document from the 401k provider - I need to look through my file to find it.

Copying text from my CL Ad -- please reach out to me if you'd like more information - Kechi, KS is in the Wichita Market.  You can find the subdivision on Google maps.

Will not do owner finance - cash deal only.  (I'm creative - so about the only thing I'd partial trade for is guns - I like nice side by sides and could be swayed by an AA12)

I live about 10 mins away from these lots so I'll drive out some evening and take some photos to add here later.  

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This is a for sale by owner

2 lots zoned for duplexes in the Rock Pointe Subdivision which is just N of Highway 254 & Rock Rd at the NW Corner --

Lots 16 & 17 block 1 Rock Pointe if you look up the legal description - 2210-12 Quivira Cir is a property right next door to the two lots. They back up to a shelterbelt and State property which is a maintenance facility for KDOT and a few other govt entities -- so for the long term it looks like nothing will be developed behind this property - located on a Culdesac -- (Per a recent map I've seen it appears the property immediately bordering the KDOT property behind these lots is planned for a park.

Drive in the addition on Quivira Cir and head all the way back to the far SW Corner - the 2 lots are there - will be finished properties on either side.

Addition has an HOA with a very low HOA fee and low specials. (Appx $1100 per lot per year)


Please drive out to the housing development - take a look see the activity taking place there then give me a call if you are interested in purchasing.


I am selling due to a business opportunity that has come up. I presently have plans for a 4 bdrm 3 bath each side duplex with no view out basement - in the addition you'll see about 3-4 different models being built - so take your pick - if you do slab on grade figure around $1195 per unit per mo rent on up to possibly $1500 something per mo per unit if you complete a 5 bdrm 3 bath unit. 4bdrm 3 bath should being $1395- 1495 per unit depending on level of finish.

Construction cost all depends on if you are acting as your own contractor or hiring someone else. i can help connect you with a builder if you need one.

Marketing these properties to fill them with tenants once they are complete should be cake. The present owners in the area have a very bland marketing plan and have had no problem finding tenants. New property always attracts better tenants. Easy to market with the location, close to Koch Industries, Dillons, Wal Mart, Restaurants/Shopping on Rock Rd, WSU, etc etc. Great location -
for schools (please visit here for school boundary maps https://www.usd259.org/Page/11799) Highway 254 (The access road Tigua will also run all the way to Woodlawn so anyone not wanting to turn left onto 254 to head east can just go to the overpass and enter the highway on an on-ramp) Stock market is on a good run but how long will it continue? Create some wealth and preserve it through Real Estate.

$19,600 per lot if you buy both so $39200 for both of them - if you only want one - $22400


Not many decent quality duplex lots available anywhere - so seize the opportunity.

My wife and I found a business we toured this weekend and we are sold.  We are wanting to put an offer on it this week.

Until last week and checking out SBA lending I was not aware of using a ROBS as a tool for the purchase of a business.  There are a few things I dont like about it but it is one way I can get into the business for little to no cash out of my actual pocket.

Would use Guidiant financial -- I'm hoping to structure the ROBS so it funds appx 9% or so of the downpayment and I can get a seller carryback for 6-7% or so - will use an SBA loan for the rest.  If I can work out this deal I can type something up down the road about it as it's something discussed here.

Didn't know if there are any horror stories out there or large pitfalls to be aware of.  Seems like a useful tool besides having to set up a C-corp and pay myself as an employee which I do not like in the least.  I'd want to save up company cash and pay back the ROBS money ASAP and dissolve it, changing the ownership structure to that of something more beneficial to the business.

Thanks @Brian Eastman @Bernard Reisz  That's what I was thinking but once I read the IRS page it seemed their definition could go both ways.

I have a unique situation (I didnt realize it could be a situation until today) 

(disclaimer for any responders) - I'm asking this question with the understanding anyone that responds is not providing legal advice and they will be held harmless, seek my own professional advice etc)

Sept 30 2016 I had a check issued from my present 401k administrator (the company that administers the plan where I work) and made it payable to a Self Directed IRA account I set up ("John Smith" Company Rollover IRA FBO Shane H)

Time goes by I did not deposit the check into the SDIRA I had set up and just never followed through with the deposit.  I call a month ago as I see the check will expire and had the retirement plan administrator reissue the check (payable the same way)

Someone today just mentioned I had 60 days to deposit the check and complete the transaction -- I found the IRS website where it talks about that - but from my interpretation they are very vague - one part of the site makes it seem the 60 day clock is if you are paid the funds directly ( I was not in the case or at least in my interpretation) -- another part of the site makes it seem any eligible rollover is subject to the 60 day clock.

Did I screw myself by not depositing the check yet?  I think I'd have a valid argument as the plan administrator did not tell me I needed to deposit the check within 60 days - the check was never made payable directly to me (I couldnt cash it if I wanted to) and lastly the funds have sat on paper - I did not do anything with them and the only way I ever touched it was holding the envelope.

I cant find an answer to this online anywhere and everyone I've called says I dont know - I'll be consulting a CPA to see - If I am stuck paying taxes it's not an amount that will kill me but I'll be pissed at myself for not knowing.  Was never aware of a time limit and thought I could always show I never touched the funds it wasn't something to worry about - at least that's what was running through my mind.  Now that I've actually found a good use for them it will be upsetting to have to pay the tax.

@Jeremy Woods  message me and I'd be glad to give some suggestions.  I work in the insurance industry here presently as well so can help you on both fronts.

@Linda Young  I'm going to look at a place license for 41 beds Saturday - on paper what I've seen it looks good.  What I have against me is never having run one.  Supposedly present owner keeps full or has the past 3 years.

Operation become fully self employed 2017 is underway.

@Chris Clark

Welcome Chris