All Forum Posts by: Daniel Guillermo

Thanks for the replies...sounds like location is not that important.  

Hi all,

I am looking for an accountant in New York.  I live in Long Island (melville) and was wondering if you have any recommendations?

I was also wondering what everyone's thoughts are on using an out of state accountant?  Should my accountant be local to me or does that not matter?

Thanks

Dan

yes, thats it.

Yes, I've had my IRA open with them for a while now and I have no complaints.

They get back to me quickly and all fees are laid out upfront so there are no surprises.

Jay,

I'd be interested in reading your book.  Please forward to [email protected]

Looking forward to it.

Dan

Hi,

Good to see more Long Islanders on BP.  I'm from Melville.  

@Loren Whitney Thanks for the information, it is pretty much in line with what I thought. I just wanted that extra confirmation. I am structuring it as 2 separate loans one with the IRA as the lender and the other with me as the lender.

Thanks

No, not family.  That rule I am aware of.

I was hoping someone here would know the answer to this, I want to make sure this is not considered a prohibited transaction. Can I lend money from my self-directed IRA to a company and also make a private loan to the same company.

Here are the details. I am looking to lend someone $50K for a rehab project from my SD IRA but I am short about $10K. Can I make them a separate $10k loan from my personal funds? If the loans are paid back separately and the funds are not "co-mingled", would this be considered a prohibited transaction?

Yes, its normal for someone who has a strong passion.  Keep that passion alive and start looking for the deals.  You have dedicated quite some time on getting prepared, but don't let reading and education prevent you from taking action.  Good luck!