All Forum Posts by: Bill Pollnow

Hello

   I passed on this post to a friend of mine/who lives in Florida/who is interested in buying a duplex.   He is very new to real estate/hasn't purchased any.   Hope that is ok.  Wanted to point him in a direction that he could learn from people who are "doing it".  

      Bill 

Hello All

     I have heard the ads on the Bigger Pockets pod cast in relation to the Avail landlord software online tool.  I checked out the website and was interested but cautious do to the "free" or $5.00 monthly levels.  Seems to good to be true.  Has anyone used this tool/could provide feedback and/or perspective.   

Bill Pollnow.

@Brandon Plombon Understand the relationship aspect.  I do work with a banker now local that is great/he does alway work for my deposit accounts. :).  I guess my desire is to have more analytical type questions to lean on upfront/for when I AM networking.   

@Jason Bott. I do frequent the local REI groups around Appleton. Haven't felt a connection on the Accounting front yet. Again, an analytical type approach/with some upfront questions/requirements to work with would help tremendously.

Hello Bigger Pockets world

I am hoping to get direction on a good way to properly vette a CPA, Banker or Insurance agent.  It is a constant struggle to find professionals that are a resource and not simply transactional.   For example, ALOT of CPA's will fill out/complete your tax paperwork when asked.  They will answer any question asked.  I would like to find a CPA that proactively asks me questions to base a strategy on for taxes.   To find this out UPFRONT is what I need help with.           

     If anyone has a good book recommendation I would love to hear that as well.    

     Thanks for listening.     

Actually that is not what were looking for.  I am referring to buying items/that landlords do on a daily basis i.e. paint/lighting/filters/etc.    Demonstrating to vendors/contractors and others the economic impact landlords have in the community.   

Hello all

      I am a member of a local landlord association/Fox Valley Apartment Association/www.fvaa.com and we are working on improving our message/marketing efforts to increase our reach and improve deliverables for our members.  We are working on a one sheet information page to give people i.e. contractors/vendors/fellow landlords.  

 One item we would like to incorporate on this document is some information that demonstrates/shows the purchasing power of landlords.  We believe this would be very powerful to show people what type of purchasing we do on a regular basis.    If anyone has a website/documented information/group they could point me to I would appreciate it.   

 We believe this would really open some eyes as to what type of commerce power we bring to the table.   

As it was explained in the presentation/the rentals would be in an LLC and the C Corp would be created allowing you to sell shares to the "Profit Sharing/Trust plan". In this manner/as explained/your C Corp would than be funded/no debt/an attractive entity for banks. That is their pitch anyway. The C Corp would be the managing entity/allowing you to draw a "salary" as well for work performed. As I manage my own rentals now/seemed a plausible mechanism to utilize 401K money in a manner I directly control. Make sense?

Brian

.       Thanks so much.  Helpful info.  The way this was explained/presentation on their website was you could utilize this mechanism for real estate property management/including passive i.e. rentals.   I would defer to an expert like yourself on the ROBS but my banker friend said he is seeing this specific utilization lately/relative new usage of a ROBS.    I am including a link to their presentation as reference.   https://sdcooper.com/presentat...

I recently left a job of 18 years and have an existing 401K. I am considering/wanting to take these funds out/use them for real estate purposes and have recently came across a company/recommended by my attorney/that specializes in a custom type of ROBS(Roll Over Business Start up). Their explanation is "An ERSOP® plan is an Internal Revenue Code tax-qualified profit sharing plan that allows for rollover money to be invested into the sponsoring business."  

The premise being it allows you to be an active participant in real estate management/which a SDIRA(Self Directed Individual Retirement Account) doesn't allow.   There is a lot to the rollover which involves creating a C Corp and Profit Sharing/Trust Plan. 

Any one have familiarity with this/can give me their input?  Thanks.