Simple Passive Cashflow Podcast

SPC098 – Fundamentals – How I lost $40,000 as a Passive LP Investor

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Sinopsis

Here are the Show Notes.... But first please leave me a review: http://getpodcast.reviews/id/1118795347Summary: I brought a house for $43,000 in 2013 and the operator ran the property into the ground and I sold the property for a net of $7,000.This is the dark side of investing as a passive.Timeline:2013 - Had 43,000 in my SDROTH IRA, The deal 9% and 50/50 split on profits. I got the referral from a Self-Directed IRA company. I asked them where should I invest this money because I did not know any better. If you are looking for a good SDIRA custodian let me know.2014 - Heard this dude was a scam artist from my network but it was too late. Lets just watch this. I started connecting with other clients via the interwebs and learned they had another market that they did this in to which was MS.2015 - Heard there MS portfolio went underwater, taxes not paidMid 2016 - Got the letter saying they were going under and I had several options, 1) Deed in Lieu - had a lease purchase agreement2) I did not really understand