All Forum Posts by: Account Closed

@Hardik Patel I don’t think there will be enough votes to get it through. I will never curtail my investment strategies based on what Congress has on the chopping block. 

@Ty Gordon

The use of ROBS to start a business has a history of failure. The ROBS Project tracked businesses that went through the process and received their DL. The failure rate was alarming. People were losing their retirement as well as their business. 

The over site and the scrutiny by the IRS would make some wished they borrowed from the mob. 

Another downside is being forced to run this through a C Corp. Now on top of the other issues you have double taxation and you give up the 199a deduction on qualified business income. 

All in all it’s up to each individual to figure out the pros and cons on this. I’d rather swim with sharks with a gapping head wound.

:)

@Jay Kaltenbach just let me know!

@Jay Kaltenbach  LOL!  Don't get me started...I don't want to end up in BP Jail!  Have a great day!

@Jay Kaltenbach Single family, Multi-Family or commercial, as long as they are managed by someone other than: 

• You, the account owner
• A beneficiary of the IRA
• Your spouse
• Your lineal ascendants
• Your lineal descendants and their spouses
• Plan service providers and fiduciaries (including advisors, custodians, and administrators)
• An entity (corporation, estate, partnership, etc.) in which you own at least 50% of the voting stock, directly or indirectly.
• An officer, director, or a 10% or more shareholder or partner.
  

I agree with the others on here, UDFI and UBIT can be triggered based on the activity.  Remember, retirement accounts are really not meant to be used as a business.  Passive investments (rentals, private money lending) are more suited for retirement accounts.

This is good for investors but may hurt private money lenders that filled the gap! Thoughts?

https://www.housingwire.com/articles/treasury-fhfa-suspend-recent-pspa-requirements/?fbclid=IwAR2uYH3w4XWqbkWRr4S9cppyYEi8rJQoneUdAsV8vAkcp7CI0XFUhYcNgZg

@Monica Ponton due your due diligence on the property and have it professionally inspected. An inspection is worth every penny to ensure you aren’t missing some items that can cost you more in the long run and makes this too good of a deal turn south.

Why are they selling? Have you viewed the rent rolls and tenant leases? Will you be managing it or have PM?

@Tommy Revithas  Diversify your rental portfolio!  Diversify geographic locations, asset classes, neighborhood classes and have a good balance of appreciation plays, equity building and cash flowing properties!  This will certainly help to keep you well rounded and keep an open mind for opportunities you may not have ever considered before.  Also remember when purchasing rentals, you're not married to them, you're just dating!  It's common to use properties in your portfolio as stepping stones and trading them out after a period of time utilizing great tools such as the 1031 exchange. Finally, remember you are never alone.  There are great resources on BP and individuals here that remember sticking their toe in the water for the first time.  Never be afraid to ask for advice or help!

@Tommy Revithas Welcome! You’ve found a great spot where other new and experienced investors share knowledge, experience and advice. Congrats on taking steps towards fulfilling your goals and expanding your financial independence!