All Forum Posts by: Dave Pricken

Thanks again for the responses. I discovered that the expert advice from BP is correct, a business partner is a disqualified person. My SD IRA will be the purchaser of the property and then I'll have to sell it to someone who's not a disqualified person in the future. At least I'll get a great return. (Purchase price: $35,000 / Rent Roll: $1,550 per month) After Taxes/Insurance/Expenses the SD IRA should see a return of about $900/mth. Not Bad.

Sorry again, I'm not lending to our partnership, just to her personally.

Thanks for asking.  I'm not trying to partner with this person, just lend her the money so she can buy the property.

You are awesome!   My custodian, Next Gen Trust, couldn't find me the correct answer, they said it was a "grey" area.    Thanks so much.

Dave

Sorry, this is a non-family member, no relation to me or the IRA. Thanks.

Can my SD IRA LLC lend funds to someone that I'm a 50/50 business partner with to buy an income producing 2-Family house?

Thanks for the advise.  I agree, we should be able to pay fees at closing.   I saw in one of their e-mails that one of the names is associated with ScamBuster.com, but ID's can get stolen and scam people.    A funding source at 100% of costs at only 5% return seemed to good to be true.   Dave

Sorry to bother, I just need some feedback on a lending source.   

Thanks for the feedback.           Dave

Has anyone had any experience with:

On Feb 25, 2017 9:59 AM, "Benison Goredenna" <> wrote:

Properties are located in Paterson, NJ. Please contact me with a personal note at [EMAIL REMOVED] for details. Thanks. Dave

Hey guys, I took all the information that you shared, (Positive Cash Flow, Won't Sell?), it was greatly appreciated, and was authorized by the seller to reduce the price of this package to $350,000 and whatever I get over that is for me. I have to think that according to the figures that you helped me with that this project is Positive Cash Flow, the fully rented building covers almost the entire project and the rest is free money. Let me know what you think. Thanks Dave