Posted by Mike Oldfield on April 20, 1999 at 02:53:08:
Ask your note holder to take a discount for cash. If he or she agrees. Have your S-Corp or LLC assume the debt that you owe on this note to get your name off the note right before the purchase closing. Then call the trustee of your self directed IRA and have him buy it at the discounted price. We all know what that does to the yield. All tax deferred of course.
Dont have an LLC or S-Corp? Shame on you! Luck is when preparation meets opportunity! Get to work friends!
Let the debate begin
I Love real estate,
Mike Oldfield