All Forum Posts by: Damon Holley

@Dave Poeppelmeier

Great post Dave. Almost same story but I am still looking for my first deal. My wife is a realtor and I take my test next Friday.

That sounds great Pete. What time and I will put it on my calendar. 

Athens here. I am just getting started also.

East Texas is great. We live in the Athens area. 

Hi Dustin. Can you move that Indexed Annuity to a Self Directed IRA LLC? That would better choice than cashing it in and paying taxes.

Thanks Haley and Brian. After speaking with several people I understand now that both of those properties will need to be managed outside of the SDIRA or Solo401K umbrella.

I know there are a thousand post on this subject. I have read so many post my head is swimming. A lot of them or 8+ years old. I want to make sure I have current info.

As the title said I am looking for the best method of converting my 401K for Real Estate investing, SDIRA LLC, Texas SDIRA Series LLC or Solo 401K.

From everything I have read I am leaning toward the Series LLC but it seems the Solo 401K has some advantages although I am not sure about liability protection.

Any reasons you would pick one over the other?

I have decided to roll my 401K over to a SDIRA LLC or SDIRA Series LLC and start investing in property. I will start with single family homes. I want to leave the method ( flip, brrrr, buy and hold, ect...) open to the specific property and circumstances.

My question is my 82 year old mother lives with us now and owns her home and my late grandmothers home. Those will be the first two rent properties in my portfolio. Should I purchase those so I can move them under the LLC umbrella or leave them in her name ? There would be a small cost associated with purchasing and some negative property tax implications. Would the LLC protection be worth it?

My concern is one of the houses will need some rehab which should be 5-10 K and I want to fund that from the SDIRA account. I am not sure if it is legal to do with a property I do not own. 

Thanks in advance for advice....