All Forum Posts by: Karina Ruiz

@Jerry W. Hi Jerry, would you mind explaining further? I’m considering buying an IUL, the advantages do seem to be pretty good. But I’m trying to educate myself more.

@ Eamonn McElroy 

Let's assume the business was taking modeling pictures of my son and his fashion or promoting toys etc. Could I keep a simple ledger at home with all the sales or would I have to open a an LLC in order for the income to be legitimate?

Hi everyone! So I want to open a roth IRA account for my 4 y/o son. I did some research online and learned that any money deposited into the account has to come from my son's working income. From what I gather, acceptable examples of "income" can be from modeling jobs/photo shoots, or I can hire my son through my RE company (I suppose he can "help" clean up properties). Some articles stated that a simple ledger at home with the date, amount, and description of the job the child performed would be good enough for IRS purposes. But does anyone know how valid that is? And does anyone have any other examples of what qualifies for income/job for small children? Any recommendations on a CPA that can advise me on this? Thank you!!!

@John Underwood  Wow I had no idea about the no capital gains!! That is huge, thank you for the heads up!

@Carl Fischer Thank you Carl!

So I'm trying to decide whether it's more efficient to invest in a traditional IRA or Roth IRA. I'm planning on retiring before retirement age, so I was leaning towards the traditional and then do a Roth conversion ladder. But I'm also planning/ hoping that by the time I retire my rental income will be equal if not higher than my current salary. I was wondering if any investors are currently doing a conversion ladder and if so if the tax write offs from your properties is enough to get taxed at or below 30% tax bracket, for example. Which do you think is the better option?

I reside in Miami and I'm getting prepared to begin the process of looking for a str in the surrounding Orlando area (I know Orlando doesn't allow str). I was hoping to hear some advice from current investors, agents, or anyone who has experience in this area/market already. I know it won't be easy to find something profitable, but seeing as I have a young son (who loves the parks) and friends in who reside there, I'm willing to at least try and search for a property. 

I have 3 main questions: what areas should I consider (a friend suggested Davenport, any thoughts)? Assuming either numbers work, what's typically more in demand: a smaller apartment/ townhome with HOA (that also includes amenities like pool and game room, etc), or a bigger sfh with private pool?

And as for my last question (it's really more of a favor), I know how important the core four are, so please any recommendations on lenders/ agents/ and property managers would be greatly appreciated!!!