All Forum Posts by: Victoria Dransoff

Thank you. Carl Fischer after the refi can I move the SDIRA into a solo 401k and avoid the taxes you mentioned on a future RE purchase?

Good Afternoon, I am in the process of purchasing a duplex with my Self-Directed IRA. It is a cash purchase so I am wondering if it's possible to do delayed financing after the close and pull my money back out (but still in my SDIRA) and put it toward the purchase of another property held in my SDIRA. Has anyone ever done this before? Thanks in advance!

If you check the borough website I believe there is a rough list of things they look for: fire extinguishers, smoke detectors, etc. I'm in the area if you would like me to take a look. I have been through these inspections many times. Victoria

Thanks Dave!

I agree, the portfolio route is the way to go. Do you know of any complications if the properties are held in an LLC?

I currently have 15 rental units (combo of SFH and multi) and today will announce my "retirement" at my J - O - B.

The question I have is about using 2-3 SFH valued at @30k each to do a 1031 exchange and take that money for a down payment on a multi family. I am considering this strategy as from what I read on the forums it is rare that lenders will allow a refi on a property with such a low value. Thoughts?

My other option is to refi with private money (family/friend) and pull the equity that way.  I want to use the equity I have to continue growing my business.

Has anyone been in a similar situation?  How did you pull the equity out? 

Any advice is appreciated.

Thanks Alex! PM sent.

Good Morning! I have a property in Cleveland in need of a new roof. I have gotten one estimate so far which seems a bit high, I would like a second opinion. I am an out of state investor so I need someone super reliable, honest contractor who is great at communicating with clients. Any suggestions?

Thanks for your response. The property is in Pottstown. The basis for the eviction is that they are behind on the rent to the tune of $2800 with late fees. They have been late with the rent just about every month, usually paying only part of the rent. The property manager told me that this now will go into mediation which could take months to happen and in the meantime any payments go into an escrow account. So it sounds like I won't be getting anything from this tenant until the eviction is resolved. That's what bothers me most. While not getting the entire rent is not right and irritates me greatly, I would rather get some than none. I still have to pay the taxes, water bill, etc. and can't afford to continue to pay out if there is nothing coming in. Any thoughts on where to go from here?

Hi All!

Unfortunately, I am in the process of evicting a tenant in Pottstown, PA.  My property management company has handled the eviction to this point - filing, etc.  The court ruled in my favor - Yay! and the tenant appealed - Boo!

My property manager says this is as far as they go and I need to find an attorney to handle things from here.  Any suggestions?

Thanks in advance!

I have been able to use this strategy with 4 different relatives - brother, sister and two in-laws.  Disqualified parties (from what I recall) are spouses loaning to one another and parents/children loaning to one another.  To be official:

The IRA participant's spouse

The IRA's participant's ancestors and lineal descendants (mother/father/daughter/son)

Spouses of the IRA participant's lineal descendants (son/daughter's spouse)

Fiduciaries of the plan (custodian or trustee)

Investment managers and advisors

Any corporation, partnership, trust, or estate in which the IRA holder has a 50% or greater interest

Essentially, the IRS wants to make sure that the IRA holder cannot benefit now from a retirement account they are not eligible to benefit from until retirement age.

Hope that makes sense - good luck!