All Forum Posts by: Travis Watts

@Brandon Shreffler I'm no insurance "guru" but I've always kept an umbrella policy that is slightly larger than my net worth. 

@Charlie Shew Great points. There are definitely similar strategies that you can use in multifamily syndications that resemble BRRRR. For example, there is a group I invest with that buys value-add apartments, fixes them up, increases occupancy and sets rents at market rate, then refinances the property and returns the invested capital to the investors and we all continue to hold the asset long-term, with no money left in the deal (AKA an "infinite return"). Most syndicate groups simply rehab and sell the asset within 5 years with the goal of doubling investor's capital, or coming close to that goal. But not every group operates this way. And for a SD-IRA, I have found that syndications are just easiest to invest in without getting caught up in all the rules and regulations, but you certainly can do the LLC and have a third party manage the asset. There are a few additional rules to be aware of, a SD-IRA custodian could help answer those.

@Malik Eleby Owner occupied no, investment properties yes. I do this for asset protection, it's easier to track expenses, bank account activity, provides privacy (LLC name on the lease, not my name) and is more professional in the eyes of the IRS.

@Sam Wilson I agree with Chris. I always shoot for the deeper connections (1-3) per day rather than meet everyone for 60 seconds and hand out business cards. I suppose either strategy can work, but that is my preference. Best of luck! 

@Nick Mess lol right? When I was buying SF homes, I decided to purchase a pickup. I decided on a used Toyota Tacoma for around 10k. That truck worked like a charm, saved me thousands over time and was also a great tax write off! Best of luck

@Mindy Jensen Awesome! I did house hacking for almost a decade. Love it 

@Nicholas J Robichaud Curious why the custodian needs to be local? The best SD-IRA custodians I have come across were New Direction IRA and iPlanGroup.

@Michelle McGinty I recommend reading 401(k)aos by Andy Tanner. That book completely changed my perspective on 401ks, how they work and the pros and cons. Best of luck!

@Nick Murray Looks like you got your answer covered by several members. Congrats on being a passive investor and setting up an LLC for asset protection! Welcome to the world of syndication

@Derek Epperson I used to work with Quest IRA at a previous firm, they were pretty good overall. I prefer New Direction IRA they have been the best group I've worked with. Mostly because of the team and staff. Hope that helps!