All Forum Posts by: Taylor L.

Could it be this episode with Codie Sanchez? YouTube

Really what you're looking for is a Self Directed IRA custodian that allows true self direction. There are many such companies, you can go to the BP directory and peruse the forums for options. Look at each custodian's fees and reviews on BP before making a selection.

I started with a prominent custodian years ago and I regret that decision. Primarily because their fees are on the high side, they limit investment options, and communication is a pain. If I were to do it all over again I'd probably go with Rocket Dollar. I have not used them yet, but they're my choice if I make the switch. Problem is, doing so is kind of a pain.

I believe the biggest mistakes people make when starting a self directed IRA (SDIRA) are related to knowledge of the rules. Understand disqualified persons rules, UBIT/UDFI, and other relevant regulations before you get started!

 That's very interesting. Do you have any links or resources where we can read more about that lawsuit?

Check out @Brian Burke's book The Hands Off Investor. You'll learn a LOT about this type of investing and how to evaluate sponsors/deals. It'll be well worth your time.

 Be very careful about posting a solicitation for a security anywhere publicly.

Hunter Thompson's book is a great start.

It'll be very hard to find a tenant, as you've identified. The Cash on Cash return would be very poor. I wonder if STR would be possible.

Where did your $12k-$15k per month rent target come from?

As a proud Lord of the Rings nerd, please allow me to borrow a quote from Galadriel: "I do not foretell, for all foretelling is now vain."

The truth is, nobody really knows what'll happen with rates. If rates do fall, that can be reasonably expected to stimulate housing demand to some extent. However, that depends on other factors that could precipitate a drop in rates. 

For example, banks currently have significant unrealized bond losses on their books. Those bond losses combined with banking runs already caused two record setting bank failures. If the Fed cuts rates due to a banking crisis, it would be reasonable to expect the real estate market to remain as it is, rather than to be stimulated.

@Chris Seveney had a great post on this topic recently.

We used Rhino in the past. Worked out well.

You can and should absolutely ask those things. Financial due diligence is part of the overall due diligence process. Financial due diligence includes an audit of the leases and financials.  If you're talking with a broker they should be able to get that information for you.

When you take over a property, you take it over with the existing leases and tenants. Best to look before you leap!