Mid-Ohio (Real Estate in IRA) Example - Posted by Mark-GA

Posted by Mark-GA on May 24, 2000 at 07:58:13:

Bill -

Assuming you do deals both in and out of your IRA, I was asking how do you decide to do a particular deal in versus out?

If you only do IRA deals, no need to reply.


Mid-Ohio (Real Estate in IRA) Example - Posted by Mark-GA

Posted by Mark-GA on May 23, 2000 at 13:36:08:

I would like some education about investing in real estate in my IRA…

Could those of you who are investing some of your IRA money in Real Estate post a step-by-step example of a deal you have done?

Please include why you chose that particular deal to do inside an IRA versus outside. Also include any fees that you had to pay related to the IRA.

Is their customer service better than I’ve been getting? - Posted by Ron (MD)

Posted by Ron (MD) on May 24, 2000 at 06:41:14:

I’ve heard good things about Mid-Ohio, but their customer service seems lousy.

Through their website, I requested information on all their programs. They promptly sent me a package, but it was little more than several pages of account applications and instructions for applications.

I wanted more info, so I called them. Both times I called, I got voicemail. Each time I left a detailed message. Neither call was returned.

Is my experience unusual?


let me echo Bill’s comments. - Posted by CarolFL

Posted by CarolFL on May 23, 2000 at 22:01:00:

what a way to go.
My roth is currently rehabbing a hse to retail, using $$ from a non-recourse loan for every penny.

Mid OH has walked me thru it all carefully. More than happy to discuss in detail if you want to email me.

Re: Mid-Ohio (Real Estate in IRA) Example - Posted by Bill Taylor

Posted by Bill Taylor on May 23, 2000 at 21:40:43:

tAXES MAN TAXES! That is the reason to invest in the ROTH. What a great deal the only way to lose as far as I see it is to die before you can take those enormouis profits. I have always invested and based a lot of my decisions on the tax liabilities but not with the ROTh. I bought a home in my mid-ohio ROth and they have a charge overall for the amount that you have in the ROTH. The fee takes care of all the business you do for that year. They will make your payments and all the charges. You have to fax them some paperwork about how and where you wnat to money sent to do the deals. You can not deal with the cash yourself. The moeny is not yours and mid-ohio will hold the title to all the props and will have a designation similiar to this Ownership is Mid-ohio for the benefit of you. If anyone is not in this you better look real seriously at the program. You can not take the money that you have in profit out til 591/2 unless you are willing to pay the tax and the penalty, but if you leave it in the acct til you are 591/2 you can have all you have in there tax free. I would like to see more info form others involved in this on this board.