All Forum Posts by: Taylor L.

Highly recommend you join Meetup.com and attend local real estate networking events. We have a pretty active real estate investor community in the area. Meetup.com is the best way to get your foot in the door & find out where everyone is.

Great wisdom from Manny. 

I would also add: You're also looking at listed properties, which will make the competition much more severe and prices far higher. See if you can work to build more off-market deal flow with opportunities to add value and raise incomes.

Networking is what it's all about! See if you can attend real estate investing meetups local to you. Also join online MHP related networking groups. People like to invest & partner with others they know, like, and trust. 

"Quite a bit of work" and "B- neighborhood" generally do not add up for me. Your potential upside is far lower in a more depressed area, compared to nicer or up-and-coming neighborhoods. "Quite a bit of work" can mean considerable renovation budgets, plus potentially large, expensive, unexpected items that come up in the construction process.

Half of a duplex is also an odd situation, but that may be more Canadian than US real estate.

It's really a matter of risk vs potential reward. We always want the potential reward to make sense for the associated risk. This sounds like a situation where that is not the case. But only you know the property, the area, and what the numbers look like.

Check out Shane Melanson. He is Canadian and does real estate syndications. His book and other content should have solid information for Canadians.

I believe @John Casmon distributes a sample deal deck on his site. 

Ours are all private, otherwise I'd share as well.

Will the property cash flow when he's out? That could be your light at the end of the tunnel

I believe the thing that separates super successful investors from those who stall or fail, is the super successful investors learn from these mistakes, take the expensive lumps, and move forward. The fact of the matter is that everyone has a deal go wrong eventually. The keys are to mitigate the damages, learn from your mistakes, and move forward.

It sucks to lose money, but do you still want to be hung up on this issue 5 years from now? Or would you rather learn, grow, and move on?

Here is the Fed's statement: https://www.federalreserve.gov...

My general opinion is that there is still an enormous amount of liquidity on the sidelines and the Fed is going to continue to hike until that liquidity works its way out. The Fed's Reverse Repo operations are still over $2 Trillion dollars, a number that was totally unheard of pre-Covid: https://www.newyorkfed.org/mar...

There would likely also be early withdrawal penalties involved. If your income is too high to contribute to a Roth, then personally I would focus on managing personal expenses and stacking cash outside of retirement accounts for investment, but that's just me.

It's really your lender/investor who is using a self directed IRA. You, as the borrower, transact with the IRA similarly to how you'd work with anyone else. You may need to provide annual Fair Market Valuations to the borrower for them to give to the custodian.