All Forum Posts by: Jim Peret

Jason Bott bailed me out on a problem property when my other agent didn't know his product. He's very competitive and worth contacting. Rates are higher then they were a few years ago.

Dmitriy Fomichenko ,you stated that managing and repairing personal rentals would not qualify as self employment activity to maintain a Solo 401k plan. I was told if I started a business that property managed my rentals that business would qualify for a solo 401k. I'd have to pay myself 8% of the rent and that would be subject to self-employment tax.  I was told this by a CPA but I think it may be a stretch?    My other though was to have a business called JP Enterprises or something.  Maybe I do wholesales, if that doesn't work I do handyman work,or lawncare or?  If I had a company(sole priorietor) could what kind of work it does change?  Thanks in advance to all who respond. 

While this post is hot I'm going to ask a question on the same subject.  Hopefully that's OK?  When I've been driving around working on my properties I've noticed an apartment I thought might be a good fit for me.  So I look up the owner and it's a real estate investment company. I know the tax assessment and would like to pay less. It this worth my time ? I'm thinking they probably have no motivation and surely wouldn't give any discount.

I'm looking to start a SD IRA checkbook LLC. I've got retirement accounts to fund it and start investing immediately.

I was talking to a CPA about investing in their Private Equity fund.. When I told him I wanted to us SD IRA money he said it wasn't a good investment for me. He said I have to pay UDFI tax on the leveraged amount. That would reduce the return too much. I heard about UBIT/UDIF taxes but didn't think they were that significant. I think most real estate investments should have some leverage. They talk about SD IRA investments for real estate a lot but is that for younger investors who haven't built their accounts up yet?

Any SD IRA investors dealing with this? Or anyone else got some feedback? I'd hate to put in index and bond funds. I sleep better with real estate as rents rarely go down.

Micheal,

I can't help on lenders. But care to share your property management company and if your happy with them?  And where are all these foreclosures?

What is an estoppel agreement.?  Are you trying to raise the rent or get him out? If not it really wouldn't bother me and I'd let it run it's course. They keep the unit fairly clean?   Kenosha and Racine could be real prime with Fox Conn moving in. Wish I knew the areas well.

Residental.

Jason Bott helped me with one . Allstate left me without insurance and only 2 week notice.  I just found out about another issue that I hope Jason can help me with.  If not I'll need your contact.

Residental.

Jason Bott helped me with one Allstate left me without insurance and only 2 week notice.  I just found out about another issue that I hope Jason can help me with.  If not I'll need yourcontact.

Tough...I  have a new insurance company.  Man,they have a list..

I own a single family that is only insurable though wisconsin Insurance Group.. I can only get 100k liablity on it and no umbrella. If I from a LLC will this protect me. I'm trying to sell it to the tenant on L.C. but now I found out I'm still on the title on L.C. So I'm told I need to do a mortgage? Tenant hasn't committed yet anyhow. That's why I wonder about an LLC and cost of setting it up.