All Forum Posts by: Dustin Verley

@George Blower Thanks for the insight, I greatly appreciate it. Will definitely keep it all within consideration when planning for retirement.

@Ian Walsh The fact that NYC/Philadelphia is the largest cross-city investment relationship is interesting. Thanks for sharing.

@Ben SosaHow have you made out investing in Newark. Any particular areas you stay away from?

@Dmitriy Fomichenko Thank you, I'll follow up with my employer. I actually just learned, for the first time, earlier about an "in-service distribution" and how it allows you to pull money from your retirement account without any penalties.

@Justin Windham Thanks for the clarifications. So is it safe you play the role of the "administrator" or "custodian" in the case of a Solo401k?

So, ultimately, you do NOT need a custodian for a Solo SDIRA, correct?

Also, how difficult would it be to move an IRA account over to a SDIRA? My employer, currently, offers a profit sharing plan as a part of our retirement benefits (unsure if this is an alternative to a 401k or is treated the same effectively.) I know they give me an option once I'm 100% vested to balance my portfolio (I think) between stocks, bonds, and mutual funds, but would like to move some of this possibly into a SDIRA and diversify my witholdings.

Excuse me for sounding rude Steve McRory - I was asking cause I see these offerings from mortgage brokers but it also seems, on the surface, to be too good to be true. I know it sounds cliche which is why I asked.

@Carl Fischer Wow, very insightful, sir! Thank you... I absolutely would love to hear more about the benefits of a SDIRA... and you driven the nail into the point that I was wondering (IRA's are good for stocks and bond investments while SDIRA's are good for investments in other vehicles, ultimately making it beneficial to have both kinds of IRA's for diversification purposes.)

I will definitely reach out to you to follow-up in the near future. Thanks again.

@George Blower Thanks to you as well, however, I am curious if "metals" factor in such precious metals as gold, silver, platinum, etc?

If it works for Shiloh, then all the best. But I've never heard the process that Shiloh is explaining before (to create a second loan and sell the note associated with such.) But to each his own I guess.

@Account Closed I've seen a few of these programs floating around... could you provide any additional information in regards to the 1% and 3% down payment program with closing costs paid for buyer. Or maybe even some possible firms that utilize said programs.

So with a traditional IRA, you cannot purchase real estate, but can invest in stocks and bonds. With a SDIRA, you can invest in both of the latter, plus real estate and more investment vehicles. Am I understanding this correctly? And how easily is it to pull IRA funds out. I thought IRA funds had to remain in the account until you meet the age of retirement in most circumstances?

Sorry, I've never really done much research with IRA's.

Originally posted by @Shiloh Lundahl:

@Dustin Verley No they did not invest with me to buy the property. After I owned the property (or better said, after my business owened the property) and we had it leased out, I had a lot of my own money into the properties so I offered second position notes (promissory notes) performing at 11-12% for 4 years on some of these properties to pull out our some of own money out of the properties. After paying all of the expenses associated with the properties, and the new lender who comes in at second position, there is still enough income for my business partner and I to each cash flow on these properties.

Maybe @Scott Carson or @Dave Van Horn could explain this better than I can.

So you're selling a partial note, or a portion thereof, and not necessarily the entire note. And you're doing so in a second (junior) lien positioning. Is this correct?

The objective to doing so is to leverage the position of the note for a return for the second-position lienholder, and to pull some of your money tied up out of the property... similar to a refinance?