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All Forum Posts by: David Goings

David Goings has started 12 posts and replied 131 times.

Post: UBIT Self Directed IRA (wholesaling)

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54
greetings. Got a first world problem on my hands here that hopefully others can learn from as well... I have a SDIRA with equity trust and was told I could cherry pick wholesale deals that I wanted to involve with my LLC to fund some of the profit to my SDIRA tax free. Here I am years end and my cpa is telling me it’s subject to unrelated business expense tax. Basically the SDIRA and my llc went 50/50 on a few deals taking on no debt and I never touched the money that went to my SDIRA. Equity trust is saying one thing and my cpa another. What do you think? I thank you in advance. -Dave Goings

Post: Should I be worried about the UBIT / UBTI tax and an SDIRA?

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54
Brian Eastman Got one for ya. I have a SDIRA with equity trust and was told I could cherry pick wholesale deals that I wanted to involve with my LLC to fund some of the profit to my SDIRA tax free. Here I am years end and my cpa is telling me it’s subject to unrelated business expense tax. Basically the SDIRA and my llc went 50/50 on a few deals taking on no debt and I never touched the money that went to my SDIRA. Equity trust is saying one thing and my cpa another. What do you think? I thank you in advance. -Dave Goings

Post: CPA Needed In New Jersey

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54
Brandon Hall

Post: CPA Needed In New Jersey

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54
Brandon Hall please see above. Ty

Post: CPA Needed In New Jersey

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54
Brandon Hall greetings. Could not connect as your contact info is hidden. Noticed this was an old thread so wanted to shift the topic a bit to fact check an issue I’m in and others may learn from. I have a SDIRA with equity trust and was told I could cherry pick wholesale deals that I wanted to involve with my LLC to fund some of the profit to my SDIRA tax free. Here I am years end and my cpa is telling me it’s subject to unrelated business expense tax. Basically the SDIRA and my llc went 50/50 on a few deals taking on no debt and I never touched the money that went to my SDIRA. Equity trust is saying one thing and my cpa another. What do you think? I thank you in advance. -Dave Goings

Post: Skip Trace monthly subscription?

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54

Originally posted by @Cornelius Garland: How were you able to receive TLO access for marketing purposes? PM me if necessary. Thanks! 

Hello @Sean C.,

I understand your frustration. During my first couple of years investing, I received ample of returned letters. Last year alone, we had thousands of returned yellow letters and postcards! We sent out about $30k in mail. While we returned a profit, it was very tedious having to go back and skip trace the correct addresses, re-address the letters, then send them out again. I'm still receiving returned letters from our direct mail campaigns from 12 months ago.

The short answer to your question is that there isn't a company that offers a flat-rate subscription where you're able to skip trace as much as you'd like. If any company is offering this, the data is significantly inaccurate. Tools like Spokeo and White Pages may offer "unlimited" plans, but the numbers are outdated. As a workaround to this issue, I applied for access to TLO and a couple of the premium data sources. Once we skip trace all of our lists, we cold call all every lead and gauge them for motivation. I researched this topic exhasuvaiely last year and found that the only way to do w efficiently is to have everything set up in-house.

Post: What would be my best use of initial funds?

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54

@Will Atkinson welcome to Real Estate. I know you said "set yourself up for the future" but let me ask. 

What is your overall goal you want out of investing? In other words, what is your why? 

- Dave 

Post: Should I or should I not pull a permit?

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54
Jose Hernandez do you ever plan to sell? If so, yes pull a permit. If you know what you’re doing and never plan to sell I see no reason to involve big brother in you personal home. Just gotta know what right looks like.

Post: Quicken loans coupons.

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54
I have multiple $750 off closing cost quicken loan coupons that can be used. Pure give for anyone working with them at the moment. I only get to help others with this, nothing else. Thanks, Dave

Post: Columbus Georgia Fixer Upper

David GoingsPosted
  • Specialist
  • Columbus, GA
  • Posts 146
  • Votes 54
Benjamin Fredricks pm me the info. Interested local buyer