New Short Sale Closed and Self Directed IRA’s

We spent the last couple days in Boston at a Pensco Trust Company symposium learning about all sorts of different alternative investments that can be made using a self-directed IRA. There’s so much you can do with your IRA beyond just buying stocks, bonds and mutual funds. Did you know you can buy and sell property within your IRA tax free?? You can wholesale real estate contracts, buy rental property, give notes and mortgages, and buy tax liens.

Since the majority of our private lenders use self-directed IRA money to lend on our deals, we find it helpful to stay on top of whats happening in this area. If you have any questions or want more info on self-directed IRA’s leave a comment below or shoot us an email at

Now onto one of our latest short sale deals.

We started negotiations on the property at 35 Dorothy Ave in the beginning of January and had an approval by mid March. This is really fast seeing as how most of our other short sale deals have taken 6 months to a year to get approvals. I think this one went so fast because we were dealing with a small servicer and we had direct access to the Sr. Asset Manager who was very responsive and proactive in his approach to getting the approval. This asset manager would actually call and email us looking for updates if he hadn’t spoken to us in a few days. This is a very refreshing approach as compared to dealing with the likes of Bank of America or Citi, where every little task takes them 30 days to assign or review.

So we closed on Dorothy Ave right at the end of April. This is a real cute ranch home located in a great neighborhood in Chicopee.  It needs the usual updates; kitchen, bathroom, etc…. but the biggest improvements we are going to make is converting it from a 2 bedroom to a 3 bedroom and finishing off the basement. Adding bedrooms and additional square footage is a sure fire way to raise the value of any house!!!

Here are some pictures: 

This house will be renovated and for sale in Chicopee MA

35 Dorothy Ave, Chicopee MA

Garage - 35 Dorothy Ave

Overgrown Back Yard


Kitchen 2


Living Room

Master Bedroom

Well that’s it for now.

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Bootcamp and New REO Deal

We just spent the last 5 days at a Raising Private Money bootcamp in Denver and we had a great time. The event was put on by my friends at Fortune Builders. We learned alot of info, met some great people and made quite a few new business contacts.

Now it’s back to work……

We closed on our first ever REO/MLS purchase last week. Working with the bank and closing the deal went very smooth. This property does need work, we are going to be installing new siding, new windows, adding a new kitchen and redoing both bathrooms. The major problem with this property is the way the second floor bathroom is layed out. They built the tub into the sloping roof line of the house, so if you are over 5 foot 6 there isn’t enough head room to take a shower. To fix this we are going to be gutting the bathroom and rearranging the layout to make it more functional.

Here are some pictures of the house;


Front View


Rear View






First Floor Bath


Living Room


Living Room 2


Dining Room


Second Floor Bathroom


Second Floor Tub built into Roof Line


Bedroom 1


Bedroom 2


Bedroom 3

 This house has 4 Bedrooms 2 Full Baths and 1,500 square feet.  It has a really nice floor plan and is gonna look great once we’re done with the renovation.

Reader Questions; Private Lending

Heres a little Q&A from some of our readers…..

Hi, I’m a wholesaler from Louisiana and I visit your blog, I was wondering how do you finance your rehabs?  

We finance all our projects using mainly private lenders. We will use our own money from time to time but that is not our preferred route. With our private lenders we give them first mortgage postion and no greater than a 70% LTV. They lend us purchase and rehab money. Terms and interest rates vary. Alot of our private lenders are using funds set up in a self directed IRA. With a self directed IRA an individual can invest in not only stocks and bonds, but also Real Estate, notes, tax liens and mortgages. This gives you much more control, greater diversity, and better returns than just sticking your money into some mutual fund!

So, what is a Private Loan? It is a loan made to a real estate investor that is secured by real estate. Private Loan Investors are given a mortgage that secures their legal interest in the property and secures their investment. We are not talking about high Loan-To-Value (LTV) ratios the banks and savings and loan institutions make on homes. We offer very low LTV ratios to our Private Lenders to increase security of the loan. Our standard LTV ratios are under 75% of the value of the property securing the loan and frequently as low as 65% to 70%. This means additional security on the investment.


Working with private lenders has allowed us to take our business to the next level and do the volume of projects we are doing today. Dominic is an expert on the ins and outs of Private Lending… so if you have any further questions about self directed IRA’s,  or private lending, shoot us an email at