All Forum Posts by: Steven De Lange

Hi @Karin Cornils,

I looked into this myself not too long ago. From my understanding a third party HAS to handle any transactions as you are not technically allowed to "pay or indirectly benefit yourself". 

This is a pretty good reference on steps to take: 

https://www.tfsproperties.com/self-directed-ira-real-estate-...

Hope this helps! :)

Welcome, and good luck @Rachel Schuler!

I have been investing in Myrtle Beach, SC for the last several years :) Let me know if you have any questions! I am looking to buy a STR in North Carolina this year!

Adding to @Bruce Woodruff: I found this on the Illinois Government website: 

"If your change decreases the tax due to Illinois and you want a refund, you must file an amended return (claim for overpayment) within three years after the extended due date, three years after the date your original return was filed, or one year after the date your Illinois tax was paid, whichever is latest."

Hope this helps @Douglas T.!

BRRR out-of-State is a great strategy if you have a good team of people in the area you are looking to invest (realtor, property manager, and contractor/ project manager)- a team you can build through BP.

Typically if you find a good realtor who can property manage, they will have an equally good network of people in the area for the BRRR.

If you are not comfortable with that as a starting investor, buying something more turn-key is a great way to start too! 

Hope this helps :) 

Thank you @Amanda Skipper! Let me know if I can help you explore the Myrtle Beach market, tons of opportunity here. 

That's amazing @Rachel Olson! Congrats! 

What are you looking to 1031 this property into? I can imagine you can upgrade quite a bit with the equity you have build up! 

 Thanks @Ray J.! I have this unit rented out as a LTR - this specific area is great for LTR's - in the Carolina Forest area. 

Let's stay in contact! I will send a DM, would love to learn more about your investments. 

 Thank you @Robin Simon! We put a lot of blood, sweat, and tears into it! 

Thank you @Detrick Greene! Let me know if you need help when you decide to buy here. I became a realtor specifically to help other investors in the area here :) 

The property is LTR - Myrtle Beach is growing so fast that it has LTR opportunities. This unit specifically is located near the hospital and in a great school system. In two days we got 50 applications! 

Would love to stay in touch too! I will send you a DM.

Investment Info:

Condo buy & hold investment in Myrtle Beach.

Purchase price: $220,000

I bought this 3 bed 2 bath condo and renovated from top to bottom: new floors, painted everything, granite in the bathrooms and kitchen, changed all (light) fixtures, and replaced the heating and air system.

The unit came with a garage, which we were able to sell and use that funds for our next downpayment!