All Forum Posts by: Mohit Gupta

Following. Just starting to research how to invest w/ SDIRAs. 

I'm confused why would you say that rental income is taxed in an IRA? May be you meant that the IRA has deferred-tax funds and not Roth?

How about using SDIRAs not to hold assets but to operate businesses? For example, could I use my SDIRA to operate a management company that charges my holding LLCs a management fee? Now the paper losses are still able to be realized via the holding companies while the management fees are earned tax free? I'm guessing though that since the IRA owner isn't allowed to take out a salary, perhaps the SDIRA LLC will be required to hire employees?

@Steven Toth I was actually able to find multiple carriers who would insure for a slightly higher premium, which I am happy to pay. Travelers, Farmers, Steadily are some who allow this model. They may call it by different names though, for example, "home-share endorsement". And there are even more carriers who would insure co-living rental w/o owner-occupied - for example Obie. The quotes were only a few hundred dollars extra annually. At the moment, we are using American Modern and Sage Sure through our insurance broker.

I'm finding it very difficult to find a carrier to insure our SFH with more than 2 roommates. I'm very surprised since this strategy is promoted to no end on Bigger Pockets and other forums but I've never before heard anyone mention this might pose problems with insurance!

Could anybody who has experience with insuring a room rental SFH, especially owner occupied, give me some pointers please? Do I need to look for commercial insurance and what's the best way to look for one?

On a related note, I've heard it many times on the podcast that one should let an insurance broker find you a good policy - could somebody please clarify how to find a broker? Looks like Bigger Pockets website only has 1 reference which does not insure owner occupied room rental.

Thank you!

@Anthony Therrien-Bernard Please post if you found a solution - I am having the same problem! Thanks!

@William Stewart If you were able to find a solution, I would love to know - I am in the same boat now. Thanks!

@Nick Brown, @Gaby Liu - I just ran into this and would love to know if y'all were able to find a solution!