All Forum Posts by: Keith Boley

Sorry about the issues.  

I apologize if this has been asked or answered already.  Have you checked your lease to ensure they have the right to a jury trial?  

Language is our lease:  parties waive the right to trial by jury

We often forget all the language in our rental agreements - May be worth a look?

Thank you, appreciate the response 

Hi Eddie, 

I realize this is an older post.  But great question. 

Im checking in to see if you ever got any information on an HRA provider recommendation? 

I opened the Solo401k, so good with that.  Now looking at the HRA. 

Take care 

@John Rickgarn

Did you ever find your solution. Im looking at doing the same exact thing that you are talking about.  Rolling over the old 401K, pension etc.  Doing Roth conversions.  Investing.

I have discussed with a CPA: For myself, take some income and yes pay the self employment tax.  For my spouse to be a part of the business, they can hold a Board of Directors position and make $2400.00 a year.  I'm sure we will find other positions/income to add to this as well. 

It would be good if they held a BOD for other companies but not necessarily. 

The trade off in the little bit of taxes we/company has to pay up front, will pay for itself quickly. 

The ability to roll over the monies is the goal.  Not necessarily to be able to add more.  

The other attractive piece to the solo is the ability to do seller financing deals within the account. 

Hope this helps, 

Keith Boley 

Roberta Eastman  

So glad I came here.  I wont be doing the call that was just set up with RLS.  

And in my experience Anderson Advisors is so not the place to go for asset protection. I ended up with 2 corporations & 6 LLC's that I now find every CPA and attorney I speak to saying "WOW" no need for all those. The upkeep to all is a nightmare and just not necessary.

Ive been with Nevada Corp Headquarters for a bit of time now.  They do well as registered agents.  They do partner with a company for bookkeeping, that I passed on after my interactions with them.  But this is not NCH, it is a 3rd party company to them. 

How I stumbled on RLS was looking for a Solo 401K provider.   However, I am going to stick with Brian Eastman on BP for that. I will be contacting his company in the am. 

Good Luck everyone, 

Keith Boley 

Roberta Eastman 

@Bob Ebaugh

I am so with you, regarding no to little leverage. 

We have several properties outside an IRA and mortgages on only 2. The process of going through banks was brutal when we had all the credentials, reserves etc.

Our intention of opening a Solo401K, is to purchase cash and/or do seller financing on purchases.  

In the decision making process of Solo 401K or not, I ran the numbers today on a property we have outside of an IRA. I

f I did that same property as a lease option, which is our real estate investing strategy we do on 99.9% of our properties, I would have had huge growth within the IRA, setting us up for tax free money in retirement vs paying taxes on the double digit gains we are going to have on this 1 property, which we have only held for 18 months.

We can hardly complain about making this type of return in or outside of an IRA.

But...Go Growth for retirement in a Solo 401K, is our mantra.  

Ive reached out to Brian Eastman here. Prior to finding Brain on BP, I was looking for a true administrator due to fear of messing it up. 

However, after reviewing his website I must share, the information on there has made me feel with his help, I can make it happen through a checkbook LLC/IRA.

I think others still have the opportunity you tapped into, it is just like all other real estate investing "Buy Right" and we all have the same opportunity. 

Hope this helps the OP (Original Poster) 

Keith Boley 

Roberta Eastman 

Hi Amanda, 

My partner Roberta handles all of that but we do seperate bank accounts for each property. 

Otherwise we feel we would have a bowl of alphabet soup, trying to reconcile the bank account each month. 

We also create and purchase in a seperate land trust for each property. 

We open the account in the name of the trust, for privacy purposes. 

Hope that helps

My partner has a tenant that she allows to breed French Bull dogs.  

However, this property is also on 2 acres of land, was a horse property and the dogs are kept in the barn.  

Which the tenant has professional run heat, a/c and water to the barn for the purpose of breeding the dogs.

So in this case for her its fine.  But in your case a multi-unit, with other residences it would be a no. 

Hi

There is some great advice here to say the least but this is a big move that you have come up against at a young age (great job). To be an agent...do you really need that to be a investor? Drop out and spend a year working and learning about real estate?
For me.... I was in a special reading class during high school, need two classes to finish my AA in criminal science, spent 19 years in law enforcement and worked for a paycheck for my time. Now in the last five years we have a great portfolio and I will be retired at age 60 in costa rica. To me to cut all the years off with real estate is the way you should go. My thoughts..Reach out if you need help.  Keith  

Hi Calvin

Funny that I saw this today. We are here in NH (from CA) selling one of our LO homes and closing out a LO on another.. Review my bio and run me on google and if you think we can be a good fit please reach out so we can talk. Keith