Question: Thinking that I need to buy a rental to off set the income I’ve made this year. I was thinking to buy cash my rental, fix property and take out a loan against the property. Would this help me for tax purposes? Any ideas how this would be structed? I was thinking to do this with a self directed IRA?

Question: Thinking that I need to buy a rental to off set the income I’ve made this year. I was thinking to buy cash my rental, fix property and take out a loan against the property. Would this help me for tax purposes? Any ideas how this would be structed? I was thinking to do this with a self directed IRA?

Jim Ingersoll: Yes, the depreciation and tax benefits will definitely help you regardless of your financing strategy. Rocky Vasquez: It’s my understanding that if funded with an IRA it must be an “arms-length” transaction. Rich Urban: Rental property will get you some tax breaks. Doing it within an IRA will not help though. Jason Bhattacharya: …
Question: The owner of a 3/1 house had to move and can’t pay her mortgage payment plus her new lease. The house was vandalized and the toliets, water heater, sinks, condenser were stolen. She is supposed to get an insurance check to replace those items and said she would give me some of the $ for new(used) appliances. The PITI is $428/mo(will be more with no homestead and rental ins)and should rent for $750. I would have no problem renting it, could buy it subject to and or lease option, probably wrap the deal into a seller financing deal or take a fee and sell the deal to another investor. Her loan is 10 years in on a 30 year loan @8 %. Do y’all have any advice on what would I should do?

Question: The owner of a 3/1 house had to move and can’t pay her mortgage payment plus her new lease. The house was vandalized and the toliets, water heater, sinks, condenser were stolen. She is supposed to get an insurance check to replace those items and said she would give me some of the $ for new(used) appliances. The PITI is $428/mo(will be more with no homestead and rental ins)and should rent for $750. I would have no problem renting it, could buy it subject to and or lease option, probably wrap the deal into a seller financing deal or take a fee and sell the deal to another investor. Her loan is 10 years in on a 30 year loan @8 %. Do y’all have any advice on what would I should do?

Rich Lennon: For me personally there is not enough cash flow. Not sure what your market produces in those terms, but I would want about $900 rent before I would purchase. Personally I would move to another investor and take a quick pay day. Just my humble opinion. 🙂 Cindy Crane: Rich, that’s what I’ve …
Question: Why a SDIRA instead of a Solo 401K (checkbook)? If the goal is to be in control of how your $ is invested, wouldn’t a Solo 401K make more sense and save $?

Question: Why a SDIRA instead of a Solo 401K (checkbook)? If the goal is to be in control of how your $ is invested, wouldn’t a Solo 401K make more sense and save $?

Jason Bhattacharya: Please share more… I’m not familiar with the solo 401k Patricia Holland Bowler: From what I understand, there is no third party, therefore, no fees. Sounds like an advantage to me. I’m hoping someone can weigh in and let us know if there are disadvantages, as well. Anyone? Jason Bhattacharya: I’d love to …
Question: Does anyone have a holding company in their business, if so why? How does it benefit you dealing with your assets and does it help when it comes to taxes as far as filing?

Question: Does anyone have a holding company in their business, if so why? How does it benefit you dealing with your assets and does it help when it comes to taxes as far as filing?

Scott L Moyes: For the last 25 years I’ve preferred to hold all properties on their own individual land trusts Quinn Gardner: I have one, for personal privacy and security. I also like the extra layer of protection with assets. You do get some tax benefits, you better find a good accountant Randall Lee Noblitt …
Question: I’ve found an investor who wants to sell their entire portfolio. I did the math on that and it’s about 700k down payment for a 20% down payment on a 3.4 million dollar loan on 45 houses. How would i propose and joint venture on this deal to get this deal done?

Question: I’ve found an investor who wants to sell their entire portfolio. I did the math on that and it’s about 700k down payment for a 20% down payment on a 3.4 million dollar loan on 45 houses. How would i propose and joint venture on this deal to get this deal done?

Jim Ingersoll: It may be easier to break it into chunks rather then taking 45 houses at the same time. Would they go for 10% down? You can find partners for debt financing or equity financing OR create a fund if you have the time. Kairaba Dreamsonpaper Burson: I could only get bb&t to do …
Question: Is it customary for a lender to issue a loan and have the payments start 3-6 months from when the loan was paid out?

Question: Is it customary for a lender to issue a loan and have the payments start 3-6 months from when the loan was paid out?

Jim Ingersoll: No. Where did you meet this lender? Marc Cesar: Privatemoneygoldmine.com Private Money Lenders & Loans for Real Estate Investors, Cheaper than Hard… privatemoneygoldmine.com Marc Cesar: I was looking for a 37k loan and I was approved but payments were for 6k starting 6mths from when loan was sent. I’m a newbie with loans …