All Forum Posts by: Account Closed

@Gretchen Knize @Hament Raju Mahajan

@Mark Nolan did an excellent job providing a side-by-side analysis of SD QRP/Solo-K vs SD IRA. A vast majority of my clients utilize solo-401ks for their real estate & other non-traditional investments. The pro's win in the solo-k category by far. We always encourage this route when setting up SD investment vehicles. Adding the layered "checkbook control LLC" to that is yet another layer that's possible, but varies by individual investor needs. Those that invest in quick turn around notes or tax liens for example may want to explore that option further. As noted previously, there is additional accountability that comes with this structure.

@Laura B. In my position I work with many custodians from the investment opportunity side. I' also active SD investor myself, not to mention having had firsthand experience in the custodial arena in the past. Specialized IRA Services is my go-to provider for my clients. They have personalized service, very cost efficient, & they offer educational support that's actually valuable. Not just the fluffy stuff. As notes previously, I highly recommend looking into a Roth Solo-401k wherever you go. Hope this helps on your search.

SpecializedIRAServices.com

RITA also offers a list of its members as well - that's always a good resource:-)

To Your Success,

Amanda

@Ben Roberts To address your question, do both! I have had a self-directed HSA for years! Love it!  They are awesome tax wise & in the big picture of life itself.  Especially with where healthcare is going, but even more so for RE investors like you & I. We know how to ride the tax-free compounding interest wave while investing in what we know:-)  Ironically enough, I too work in the Memphis market with MemphisInvest.  I sent you a colleague request. 

To Your Success,

Amanda Holbrook

@Cailyn Aune Welcome to BP!  A fantastic resource & forum. Many of our clients at MemphisInvest are from the "west coast" simply due to the price difference from your areas to Memphis, Dallas, & Houston. After you get comfortable here, know you have a resource to determine if out of market turn-key makes sense for you & your family. It's a phenomenal vehicle for building passive income, but it's not a fit for everyone. That's a-ok too. Best of luck on your real estate investment journey! 

To Your Success,

Amanda

@Chris Oswald

On question 1, I'll share a tip for quick transfering/rollover of funds with you. Especially when it comes to old employers 401k. Step one, be in a cash position before initiating the rollover. Step 2, the squeaky wheel gets the oil. With 401k providers you need to stay on them. (I worked for a large custodian for a number of years:-) When moving an IRA, the receiving custodian will handle the majority there. Specialized IRA Services handles mine & a lot of my clients. They are on it! Fantastic on the fee & service side of things. Plus the have the proper hand holding for my clients that need it. Huge plus!

Question 2, everyone that chimed in here is 100% correct. You are in the right account first & foremost. Higher contribution limits, a roth component, being eligible to take a loan, & avoid UBIT if you decide to leverage with non-recourse down the road. All good. Strategically, its a matter of knowing what you want & when. One answered, you can develop the roadmap form there. I have plenty of clients using their "50k loan" as a capital infusion on their "active" side of their business while implementing their "passive" buy & holds within the account. Everyone's different. The invitation is always open if you wanted to expand on your strategy. Glad to help. 

To Your Success,

Amanda

@Kurt Sprouse I'm part of the Memphis Invest team if you'd like to review what you're looking for one:one you can message me. Always glad to help & see what's the best fit for you personally. As Curt mentioned, we do also operate in Dallas & Houston. I work with many investors like yourself residing in CA, and looking for opportunities beyond your backyard. You're not alone there. The invitation is always open. BP is a very helpful & insightful community when it comes to investing. You're in good company. Best of luck on your endeavor. 

To Your Success,

Amanda

@JayHinrichs

True. I should have elaborated that its a market strength that will add to the outcome of your 1031/portfolio performance. Being from OH, I'm aware of the friendly state tax that follows where your roots are planted. Another reason I should relo to TX:-) Always on it Jay - Thanks.

@Jie Li @VincentCrane

A large percentage of the clients I work with are in your boat. CA residents that cannot get the cash-flow price points needed in their own backyard so you're doing the due diligence elsewhere. Yes, that can be overwhelming. Especially if you are in a 1031 time crunch. We have a service speciality of taking the stress out of 1031s since we have 3 markets (Memphis, Dallas, Houston) all under one property management umbrella. (turn-key model) Feedback here consists of no stress acquisition, ease of multi-market management, & achieves portfolio diversification all at once. Another plus is no state income tax in TN/TX so it even sweetens the 1031s outcome. It's simply aligning with the right team, in the right market. If you decide you'd like more info on Memphis,Dallas, or Houston feel free to reach out. Good luck with your research! 

To Your Success,

Amanda

Sent you a message Drew. Glad to help you out not only in evaluating if turn-key is a fit, but the team & investment strategy as well. Our team operates in Memphis, Dallas, & Houston.  My contact info was sent. Looking forward to our conversation. 

To Your Success,

Amanda

Once you zone in on the Market you are interested in, now the due diligence begins. The company track record, service experience, & portfolio performance are the paramount pieces to your long term success. The answers in these categories alone will identify which team/market is a fit for you personally. It's as simple as that. I'm a Senior Portfolio Advisor with Memphis Invest/Dallas Invest/Houston Invest so I can attest to our service/product. Of course a bit bias, and proud of our team. I'll note, my self-directed retirement background has afforded me the experience of working with multiple turn-key companies in the past in different capacities. Message me & I'll gladly fill you in. Hope this was helpful.

To Your Success,

Amanda Holbrook