All Forum Posts by: Jason Staine

Hi BP,

We are looking to rollover a sep IRA and a roth IRA into a self directed 401k or solo 401k. Had anyone used companies like etrade or td ameritrade? If not what other options would you reccomend

thanks for the info. I will look at options you recomended.

Hi BP,

Need advice on a building a website to capture leads. Looking for recommendations on website building apps or people who can do this fast and efficiently. 

Thanks

its unfortunate. this location is great. the complex is a 55+ townhouse with 200 units. units sell fast here.

Hi BP Found a property that is bank owned though a reverse mortgage. Selling agent told me the bank is firm on the price because of federal regulations. At the listed price its not a profitable flip. Looking to flip this property listed at 109k. My numbers according to BP calculator would require a purchase price between 82k and 87k to account for reno and profit. Please share your insight on this type of bank owned property and any creative approaches to scooping deals in this situtation.

I just spoke with my CPA the other day about this. I have a SEP IRA that I set up for my contracting business. You can not lend out from a SEP IRA. However you can roll over to a solo 401k or a self directed IRA. Be aware of the lending limits and repayment terms. A solo 401k can only loan 50% of the balance up to $50,000. Then you must repay the 401k with 60 months. The self directed IRA has no limits on loans but the repayment term is significantly shorter.

Hi Roger, I am also looking for my 1st flip. Im in the bergen county area. Im a licensed electrical contractor. I may be in need of an architect in near future. PM me anytime if you would like to chat. Jason