All Forum Posts by: Jeffrey A DeAngelis

Howdy, 

If anyone has invested with funds from a self vested IRA and funds from outside an IRA - for instance, 50/50, how do you manage online purchases and split between the two?

For example. A STR purchased property at $100k and you put $50k towards the purchase with a self funded IRA and $50k outside of the IRA means that incoming rent and outgoing property improvements/upkeep are split 50/50 to stay within IRS compliance. If you purchase a new bed, fence, grill, cabinets or cleaning supplies (or whatever) say on Amazon for the property, you can't split payments with two separate cards for the improvement. Most online sites don't allow multiple cards for transactions. Any workarounds?

Thanks.

Thank you.   Thought a may have made a huge mistake with my planning. 

@Dave Foster

Had a house bought and sold as part of a Self Funded Retirement account. Money is sitting there waiting. 

Have another house about to close that is self funded outside of the Retirement account. 

If I 1031C exchange the self funded house (Titled to my personal name) identify and a new property, have the $$ sit in an intermediary, can I also use the Self Funded Retirement Trust account to purchase new property along with the 1031C exchange?

I assume this will cause complications with how they title the new property. 

I have a property being sold in the Myrtle Beach area in SC. Upon closing State of SC is asking for a 7% capital gains tax on the property. The property is in a self directed IRA. Does the 7% still apply being it is in a self invested IRA?

Thanks!

Howdy - 

I've recently renovated an older home built in the 1800's. Has all new heating (Mini-split zone) and electric panel update (with permits and inspections) in NJ. I had no problem acquiring renovation/builders insurance but now that I have it completed I have some insurances not willing to insure an older home. I am simply looking to insure this 2 bedroom property (no current mortgage) and running into challenges with the age of the building. 

Is there anyone willing to refer someone who might be interested in insuring?

Thanks,

Jeff

Howdy - Just purchased a SC property that has a low income tenant (section 8). The tenant has been there for 4 years and to simplify this post I need to roll over the existing Section 8 state payment to my account, create a new lease, etc.  Any idea on how to find the right phone number/contact within the state of SC to start this process?

Thank you.

@Carl Fischer @Brit F.

Thank you both. I will heed your advice accordingly. 

Howdy all - So here goes - Let me know if this is IRS acceptable or would I get myself in hot water...? 

Reside and investment property is in NJ.

Currently finishing renovating a property that I purchased for $65k Cash - $20k in fixes and funded with AFTER TAX DOLLARS. I did complete much of the work myself. Assessment is $155k now. No mortgage and I own outright and did not purchase this with IRA type funds. Just flat out savings.

Separately I just moved $110K from an old 401(k) to a self funded IRA.

Can I sell the above renovated property to a separate individual (non related) for a price (and make a minimal capital gain) and then have that individual sell back the property purchased through my Self Funded IRA?

Yes - it's a money/property shuffle - in my mind it's logical - but I'm also not a tax/law person. 

Make sense?

Thank You.

@Jacob Sampson Thank you for your insights. I could always move to an LLC later and converse with an accountant when appropriate to do so as you have mentioned. Appreciate your insight.

@Tyler Gibson - Thank you. Helpful information!