Investing Journals

Does anyone have some examples of how they have used self directed IRA's to expand their real estate holdings? How you have set-up your companies with self directed IRA monies, etc.

Yesterday I got a call from someone I met over a year ago. I was rehabbing a house directly across the street from his, and much to my surprise he saved my business card. Well he tried his hand at being a landlord and he was very disappointed, he lives 3 hrs away and it was more than you he wanted to mess with.

He called me to see if I would be interested in purchasing his house. I met with him Saturday afternoon and we came to a tentative agreement on the price of $27,500.00. The house as an AVR of $55,500.00. The house needs painting and clean up and THAT's it! It was rented for $950.00 but a more realistic rent is $850.00. I told him that I would call him back on Monday evening and give him my final decision.

I like to know if that's okay in price?

"In consideration for the services provided by the Firm under this agreement, the
Company agrees to pay the Firm a retainer of $2,000.00. The retainer will be refunded,
to the extent it has not been utilized in fees and costs related to your representation, upon
resolution of this matter.
I will be the attorney responsible for this matter and it has been explained that we
will bill our normal hourly rates of $200.00, against the retainer. In addition, my
paralegal, may work on this case at the rate of $75 per hour. These rates may increase
from time to time, but only to the extent of periodic increases for all similar clients."

Thanks for all the support everyone.

Today I personally went out to check on one house that's super cute and (Cheap) outside it's well maintain I didn't have key to go inside, so I still making a offer on it. Due to lovely area, and great price. After I email my Realtor, I was super excited to tell my partner. and guess what it's may might be our first day, and he said we can do SHORT SALE. it's very true we can Not do short sale, when we don't have any money left and just starting this Amazing business, (Thank God this system work with poor people like us) lol so I don't know if it's true unable to do assignment contract or double closing. so I will call the support line tomorrow, they are super helpful and full of great answers.

I don't know how to ask but here it is:

How to find Auction houses before hand, then wait til it's auction day to win it? Where to look for those houses about to go on Auction road?

And Can we do assignment or double close on those houses or string attach?

I got ahold of a list of absentee owners and sent out my first batch of 200 hand written yellow letters. I was really surprised to get 30-40 calls, many were useless, but one elderly lady had an old junker in a bad part of town, I offerd her 15K and we settled on 18K I started placing multiple ads on Craigs list for 25K The first investor that went over to see it called back and described it as follows, broken windows, sheetrock ceilings coming down, subfloor rotted thru in several places, garbage and filth and a horrible stench that wud choke an old wilderbeast. He said there were 6 dogs and several cats with crap inside and out, dead yards with junk strewn about, he even described how the trees were scraggly and barely hanging on.

One of our friend called us up to see a house he currently living in, he said its bank foreclose on it for months now, but no where in paper or online I can Find anything about this for sell or forclouser? Anyone know what's going on and how to find those houses?

Hi everyone!
Very happy to be here. I have done some investing in real estate in the past and currently have 7 apt units (duplexes and triplex). At this point I have struggled to do it on my own and am just trying to figure out the correct way to do it. I believe this is where I will learn those lessons. I live in Canada and am looking forward to investing in the U.S. very excited.
jacy

I am fairly new to Dean and his community and have been very excited seeing success from so many that are connected with him. I saw the investing journal that Indiana Joe started years ago and I am impressed with where he started and now where he is at.

I have been investing in properties for years now, and still have goals and dreams I am wanting to achieve. But what I have seen with Indiana Joe is I would love to have a record of my experience and journey as I do my deals and move towards to my dreams.

One of my bird dogs called and said he got a call on one of his yard signs from a couple that wanted to sell for what they owed. I called the lady and she told me they owed 210K for this 5/2 2story ranch house on 1 acre. I sent the bird dog back over to take photos and access the condition. He said it needed 20K in work, deck boards rotted, Patio leaning, needed paint and yard was dead and overgrown, the pool had green water with frogs. The worst part is it was out in the country near a migrant farm town. I valued the property 70K less than what was owed less repairs. The payments were $1400 PITI. I told the seller the only way I cud sell this property is with a long term lease option that wud run the term of the loan. She agreed.