All Forum Posts by: Stephen Craul

thanks for the insight, will look into 

Hey BP members; looking for a quality real estate attorney in the Colorado Springs/Denver area. Have property in my own name looking to place in LLC and best way to set this up. Also interested in said attorney reviewing the LLC minutes and other details on an annual basis to ensure compliance with LLC and real estate law for single family homes. Have other issues to discuss also. Of note, planning on a cash out refinance in the next 3-4 weeks so maybe an apt time for this discussion.

thanks for all the great responses; to further clarify; I rolled over several 401k from past employers into an IRA. IRS required non recourse loans which carry a higher interest rate (approx 6% for 20 years fixed for example and lenders require higher down payment, 40% as non recourse ). I have a real estate agent and discussing the possibility of agent doing and sending a video of property and property manager also review property as appropriate for rental. Seems like you need to place an offer before "on the ground " as property does not last more than few days on MLS before status change to pending. On another issue, the SDIRA LLC was incorporated in Colorado so may need to register to do business in Georgia for eviction etc. Anyone know of a good attorney for a rental lease for Cobb or Cherokee county in addition to clarifying if it's necessary to register to do business in Georgia even if PM most likely utilized. Thanks again, Stephen.

Hi fellow BP members; I live in Colorado Springs and want to invest in North Atlanta Metro area; Marietta, Kennesaw, Woodstock etc.. Anyway, I have a SDIRA set up as an LLC for rental property purchase in Nov 2016. Visited last year and unfortunately a couple properties fell through. Anyway, really want to purchase a 3-4 bedroom property for 130-170k. My downpayment cold be as high as $92500, so technically will cash flow although Cap rate max 6-7% is anemic. Lender requires a 40% downpayment for SFH in Georgia. My concern is that these houses go under "pending" status on sites like realtor.com. Is it possible to bid an offer sight unseen, out of state using a real estate agent in Georgia 1-2 weeks prior to travel there (flights booked first week of May 2018) and then pull out if concerning Building inspection or close the deal if attractive? Really want to close a deal here and move on with my life. If the property could be set in "pending" status, this would be advantageous as the property could be inspected, the financing initiated (lender NASB require up to 35 days to close) and less fear of losing the property because of out of state status. Otherwise, I fear the only way to do this is wait till land in Atlanta and the "right" property pops up in the 4-5 days we are "on the ground"; Also read several books that address this topic (David Greene and others) thanks in advance, Stephen

My lease for my mountain rental property states NO ATV on the property. Just curious as my tenant candidate moving in 10/1 uses an ATV with plow to clear the driveway for snow removal. Would this be an issue with my home owners policy? Or if leases use this to protect property from erosion, or if tenant killed from ATV accident, would the homeowner be sued because driveway too steep and contributed to rollover etc., or should I add into lease that landlord NOT responsible for any injuries/death with ATV on property?

Thanks in advance

Stephen