All Forum Posts by: Trevor Lohman

Sorry if this had been asked already,

I'm just curious:

At what point do you have enough money in a self directed IRA to consider lending?

I've seen lending from an SDIRA talked about quite a bit, but I'm assuming you have to have at least 100k or more to think about going that route correct?

Let's assume you're willing to lend in any market where you'd be willing to also buy a rental. So in my case that could mean homes down in the 50k+ range. 

Do you just need to have the purchase price minus whatever the downpayment is? 

Speaking of which, what is the typical down payment on a private money loan from a SDIRA? 

Thanks for any info guys!

Thanks @Maggie H.!

Yucaipa? Perfect that's right next door. 

Thanks again,

Trevor,

@Jon W. 

Don't we all! I'm following this thread, I hope you're able to find some good info

I've been there years ago. Also, I grew up fairly close in Michigan and went on field trips to sandusky (cedar point) every year. 

But honestly no, I'm not super familiar with the area at all. I'm working with some local folks. It'd be awesome to do what Ryan's doing! That's the way to go I'm sure. 

@Joseph M. Depends on your definition I guess. Needs about 5k worth of work in the second unit. It's an SFR but it has a completely detached second unit with a kitchen, bath, heater, etc. That unit is a little run down and is just storage for the current tenant. The front main house with 2 bed 1 bath is in great shape though.

Rented for 1000 and purchased for 54k. Gotta love Cleveland suburbs!  Tenant in place so still turnkey though I guess.

@Ryan Evans That duplex looks sweet! What a nice place with lots of character. I'm sorry if you already mentioned it but what is the market rent per unit do you think?

This is awesome @Ryan Evans

I'm Closing on an SFR in Garfield Heights in a couple weeks. It'll be my first one in the Cleveland area so I'll be following this for sure.

@Michael Swan congrats on all of your success and I enjoyed your show! I was just in SD for work this week, holy cow they aren't giving away condos anymore now are they! 

Love the forced appreciation idea. I think this first house will be about finding people I trust and then I hope to have even a small slice of what you've been able to achieve with MFRs in the Cleveland area.

I Look forward to following your success Ryan, way to take action brotha! 

Best. Thread. Ever.

@Antoine Martel 

Well I'm interested in anything that looks like it will pencil! But what I'm primarily interested in is buy and hold cash flowing properties. So far that does not seem too easy too find locally, so I am looking at midwest/southeast markets to find SFRs or MFRs to be managed professionally. 

As I'm remodeling my house, fix and flips seem interesting.  I don't quite have the skill set or the time to do that though. Vacation rentals up in Arrowhead and big bear are interesting to me too, but right now cash flow OOS seems to be what I will focus on primarily. Antoine, are you out in LA or in the inland empire?

@Patrick C. Thanks! I came across this on google and want to check it out. It seems a little generic though. That's probably not the right word... but they have sponsors and speakers etc. I think it'd be cool to put something together where people can brainstorm, talk about deals, partner, etc. Kind of like a mastermind group maybe. 

Maybe that's exactly what this is and I just need to check it out. Thanks for giving me this link! 

Anyone know of a good inland empire REI meetup? I live in Redlands, California and am wondering if there is something already set up that's local, or if there's enough of us on BP who can put our heads together and set something up.

I'm not even an inland empire investor, I have a property in the midwest and another in escrow. That said I just think it'd be great to connect with some local people in person and talk about strategies, plans, etc. Maybe even partnerships! 

Redlands is a cool old town with lots of restaurants and coffee shops that could work... and of course it doesn't need to be in Redlands. It seems like there's lot's of meet ups in LA/OC/SD, but I haven't seen too much locally. 

If anyone is interested in working on something like this please share below

Thanks guys!

Trevor