All Forum Posts by: Edward Synicky

@Michael Fitts 

Welcome fellow Bigger Pockets member! This is a great forum and I am sure it will help you learn many facets of the real estate investment world. I purchased my first investment property over 40 years ago and only wish that I had a resource like BP community when I got started! So you are in a good company.

Some say that your net-worth equals your network, and this is the place to make right connections. You should also find investors locally and network with them face-to-face. Find people close to you using MEET feature. Also, look for investor meetings on Meetup.

All the best!

@Xavier Allen 

Welcome fellow Bigger Pockets member! This is a great forum and I am sure it will help you learn many facets of the real estate investment world. I purchased my first investment property over 40 years ago and only wish that I had a resource like BP community when I got started! So you are in a good company.

Some say that your net-worth equals your network, and this is the place to make right connections. You should also find investors locally and network with them face-to-face. Find people close to you using MEET feature. Also, look for investor meetings on Meetup.

All the best!

@Amy Wright 

Welcome fellow Bigger Pockets member! This is a great forum and I am sure it will help you learn many facets of the real estate investment world. I purchased my first investment property over 40 years ago and only wish that I had a resource like BP community when I got started! So you are in a good company.

Some say that your net-worth equals your network, and this is the place to make right connections. You should also find investors locally and network with them face-to-face. Find people close to you using MEET feature. Also, look for investor meetings on Meetup.

All the best!

@Sean Hurwitz 

Welcome fellow Bigger Pockets member! This is a great forum and I am sure it will help you learn many facets of the real estate investment world. I purchased my first investment property over 40 years ago and only wish that I had a resource like BP community when I got started! So you are in a good company.

Some say that your net-worth equals your network, and this is the place to make right connections. You should also find investors locally and network with them face-to-face. Find people close to you using MEET feature. Also, look for investor meetings on Meetup.

All the best!

@Dustin Thornberry 

Welcome fellow Bigger Pockets member! This is a great forum and I am sure it will help you learn many facets of the real estate investment world. I purchased my first investment property over 40 years ago and only wish that I had a resource like BP community when I got started! So you are in a good company.

Some say that your net-worth equals your network, and this is the place to make right connections. You should also find investors locally and network with them face-to-face. Find people close to you using MEET feature. Also, look for investor meetings on Meetup.

All the best!

@Lauren Moloney 

Welcome fellow Bigger Pockets member! This is a great forum and I am sure it will help you learn many facets of the real estate investment world. I purchased my first investment property over 40 years ago and only wish that I had a resource like BP community when I got started! So you are in a good company.

Some say that your net-worth equals your network, and this is the place to make right connections. You should also find investors locally and network with them face-to-face. Find people close to you using MEET feature. Also, look for investor meetings on Meetup.

All the best!

@Brian Eastman 

My information is correct, but I do admit it lacked specificity. I was referring to leverage when I made the comment. Brian is absolutely correct when you are running a business in your solo401K, the UBTI tax does come into play. 

Brian, thanks for making this distinction, I certainly do not want to mislead anyone.

Drew, good luck on those loans, a solo401K is a great vehicle to use when lending, especially if you have check book control.

For those of us that are not as interested in risk as we may have been in earlier years, I have found great solace and comfort in lower performing 1st TD's, It is much easier to sleep at night knowing I can foreclose on an actual asset than trying to recover my funds from an LLC created to invest in non performing notes. No one ever went broke protecting their principle and getting a double digit return.

 I could not agree more with Tammy, be cautious of investing in funds that then invest in non performing notes. You do not have the safety of principle as when you have a first TD on an actual asset. It is true that your return will probably be higher in non performing second funds, but no one went broke protecting their principle with a trust deed and double digit returns.

Drew, there is UBIT in a self directed IRA, but if you qualify for a solo 401K you by pass that tax issue. The solo 401K with check book control should be every investors goal, you just have to qualify for it by having a business that generates income and have no full time employees. You can still be a W2 employee yourself, just have a business on the side.