All Forum Posts by: Glenn N.

I am thinking of doing some hard money lending in Texas are there any restrictions in Texas ,limits , max for usury  etc.

thank you 

Glenn

Thank you , Brian and Carl . I was suspect when she told me that since I saw no recommendations for them.

I have been working on opening a SIDRA. Thinking about doing it with my ROTH. I have been thinking about using the IRA services with an LLC due to the lower cost ,but I just went by CHASE and they told me they do SIDRAS .Is this any different than doing a SIDRA IRA Services with with my roth . I would not have to get a lawyer or a lawyer to set up the LLC fr the SIDRA. The Chase one is self directed with checkbook control . Am i missing something here. I am just doing notes homes ,hard money lending and want to do it out of my ROTH, I know the rules etc. I am in texas but will be doing the lending in Florida to a few business I am familiar with .

thank you in advance for your advice and experience.

Great info thank you. More involved than I though, devils in the details.

Thank you all ,yes I suspected that would have to get a real appraisal of some type , I’ll do it . Thank you for the responses.

yep already have one.

I inherited a home from my dad in Austin , Tx . And would like to rent it or live in it while i fix it up.I am trying to figure out the best way to go about figuring the cost basis . I would assume that I would want the highest value so when i sell it the gains would be lower on paper. I have the choice of Locking the basis at the time of death or on the date 6 months after(do not know the specifics how you do this). I am not sure how to go about this ,perhaps getting an estimate from equal homes sold during that time period . Any thoughts on this . Thank you in advance.

I will ,Thank you John.

I am going to start some Hard Money Lending to a few gentleman that I know  that do rehab and building in florida. Is there a limit on how many loans or amount that I can lend without getting a license.                                    Thank you in advance for your knowledge on this subject.

Mr Eastman ,

You state that ,

"is generally not beneficial to re-characterize passive income as self employment income simply for the purposes of establishing a Solo 401k plan." But is it possible? Specially if you are actively managing it and treating it like a business?

Thank you