All Forum Posts by: Adam Harward

I'm considering 2 MHP Parks.  I will try to detail them out

Park #1

30 Lots (6 Vacant Trailers, 4 Vacant Lots)

20 Leased $350 per month $84,000 GI

Annual Expense $16,100 (RE Tax $10,000, Mgmt $1200, Landscape $1500, Snow removal $1000, Liability Insurance $500, Trash and Misc $1,900)

Asking Price $475,000

Park #2

4 Leased Lots $1270 per month (total)

Annual Expense $3,850 (RE Tax $900, Insurance $1200, Misc $1,250)

Asking  price $75,900

I'm still waiting on a few details that I will add when able.  Who pays utilities? Private or public utilities? etc.  Would love another set of eyes on these 2 deals.

I would be interested in attending the next meet up.

Welcome @Tye Foster.  There are a bunch of us in Utah.  I'm located in Utah County.  Let me know if there is anything you need.

All the best!

--Adam Harward

@Taylor Wade Wirthlin it's definitely become harder to pick up deals  in Provo and Utah County.  I live, work and own real estate here and the plus is that it's very stable with 2 Universities and a growing population.  The downside I've seen lately is that the rents aren't following the same trends as housing prices.  It's shot up so quickly in the last couple of years that most of the deals don't pencil out.  I've seen better deals in Ogden but don't know that area as well as Provo.  I've started looking elsewhere.  Best of luck!

@George Blower I should have re-read your post.  I follow it now.  You were referring to a Roth Solo 401k (After Tax) not being subject to taxes after 5 years if drawn.  Sorry I follow you now.  

@George Blower I'm not sure I follow you on this.  So with a Multi-family property if purchased traditionally I can depreciate the asset (offsetting income on the property).  

If I purchase the same property with my Solo 401k I understand the income produced by the asset grows tax deferred (Not Roth) but if I were to retire and draw on those funds they would be taxed as ordinary income.  Is that correct?

Wondering if you can take depreciation on the asset to offset that income produced in the Solo 401K so that when you retire and start to draw on those funds theoretically that income could be lower (reduce taxes)

Not sure if that made any sense.  I guess what I'm getting at is.....Is there a way to depreciate an asset when purchased with a Solo 401K or would a better strategy be to purchase a property (such as land) that can't be depreciated with my Solo 401k?

@Dmitriy Fomichenko

@Dmitriy Fomichenko  I've heard one of the disadvantages to purchasing income producing property  with your Solo 401K is that you're not able to take advantage of the depreciation of the asset.  Is that true?  or is there a way for the Solo 401K purchased asset to be depreciated?  

@Jed Wood small world!  Nice to see your taking advantage of that Solo 401K.  Hope all is well

Raw Land, Retail Pad, Utah, Investment Property, Build to suit, Development

@James Wise  good to know