All Forum Posts by: Tyler Caruso

I currently have a Self Directed IRA and it's being managed by a custodian. The fees are costing me close to $2500 per year as they charge a yearly fee and $5 per check. I am looking to convert to checkbook control and am looking for a provider that can help me make the transition, help me setup the the account properly, and then have the lowest fees. Any reccomendations???

Instead of doing the portfolio loan do the single asset loan and you will not have to setup a new LLC. They are offering really great rates for 30 year fixed loans right now.

Corevest is great!  Rather than going on the blanket loan program they have I did the single asset.  It allows for 30 year fixed rates which they don't have for the blanket loan.  Also, the blanket loan requires a separate llc which I was against.  So far I have done over 20+ loans with them and they have all gone very smoothly.

They are quoting me now @ 30 year fixed around 5.875.  so there is roughly a 1% premium to conventional investment Fannie Mae loans.  They do asset based underwriting though so you don't need tax returns paystubs etc.  

@Loic Assobmo I use Corevest for my properties after 10. They are very easy to work with. I have done 25+ loans with them. Also, my wife and I each have 10 Fannie Mae properties under our names so there are ways to get more.

Those days are past.  You can find those ratios in areas I wouldn't invest in.  It's more like 70 to 90k all in with 1000 to 1100 rents.  I buy in Raytown, certain areas of Independence, Belton, and Blue Springs.  Good luck.

I ended up not doing it.  Although it does appear legit, I just didn't want to always fear the IRS changing policy on it. I decided to just pay the tax bill and move forward.

They got bought out by PMI Inc.

Has anyone heard of these or done one?   I am selling my business and am looking at doing one of these to potentially defer taxes for 30 years.   Any feedback would be appreciated! 

Check out Bank 21 specifically Tyler Knott.  They do portfolio loans and are very easy to work with.