All Forum Posts by: Kevin Allen

@Sue K. It’s not the tenants I’m worried about. You can get a good section 8 tenant or a bad non section 8 tenant. My houses are nice houses and kept up well. However, the landlords the section 8 landlords that I know are always complaining about the super picky section 8 inspectors. Sounds like they don’t feel like they are doing their job unless they find something for you to fix.

Thanks to everyone for the replies. It’s not law yet but lols like it will be. At this point I’m just waiting on the final details before I make a decision.

@Joseph Konney. Can you give me an example of what would make a building not approved?

Ok, so I live in Louisville, KY. I currently have two sfr’s and was actively looking for my next purchase to pull the trigger on. Louisville Metro (Jefferson County in KY) is now in the works of passing a fairness ordinance where you have to accept section 8. For multiple reasons I don’t want to accept section 8. Mostly because of dealing with the program itself. I know similar laws have popped up around the country already. So anyways, I’m looking for feedback. What would you do. Should I keep with my game plan that I currently had in place. Should I look outside the county. Who’s to say that wouldn’t follow me to another county.

When you factor in depreciation.......does only one person depreciate half on their taxes?  I know you can’t use depreciation while using a sdira but can the other person  still depreciate their half?

Is it possible to partner on a deal when only one partner is using an sdira?

@Cody F. Also, I had a similar situation at my old house. It was a decent neighborhood but the mom two doors up allowed her druggie son and all his friends to stay there. I rent that house and they are still there. They broke into a couple of the neighbors homes and garages. Always left me alone. First line of defense is an alarm. When they walked down the street I could always see them scoping out peoples backyards. I always made sure they saw me watching them. A couple times they tried to meet their dealer in front of the house in the dealers car. I always ran them off. They hang out at the local grocery begging and always bring grocery carts to the street. I was getting ready to meet some new tenants a couple months ago when the neighbor told me they had pushed one of their carts right up to the side of my house. It had a ton of papers and receipts that they dug out of the garbage. I flipped it upside down on their front porch. Mom came out yelling at me and I told her next time I would put it on the roof. Anyways so far they have stayed away but I know that technique could definitely backfire. Good luck to you. You expect it in a bad neighborhood. Sucks when it’s in your neighborhood.

@Cody F. First would be to contact HOA if there is one. If the dog ever seems to be neglected call animal control. If you ever see any illegal activity call the police.

@Justin Windham

Thanks Justin. So what would that look like? Would we still form a llc and a bank account that we would both contribute to out of the solo 401k’s?

If 2 people both have a solo 401k is there anyway to partner on a property? Me and my partner are in the same boat. We both recently changed jobs. Our 401ks from our previous jobs are still in our old employers 401k. We were considering buying an investment property with the money but trying to figure out how to structure this deal. I already own long term rentals so I’m not new to investment properties. Just new to the sdira and solo 401k. What would be our best route?