All Forum Posts by: Mark Welp

Look into cash value whole life insurance using the Infinite Banking Concept as a place to store cash. Works great with real estate as well.

Thanks Stacey. I will email you.

Walker, Shoot me a PM and your cell and we can chat over the phone. I have not had good luck with credit unions in Columbus. I use other small banks.

Hello, I am looking at the Scottsdale one in December. Any other feedback on if it is a worthwhile conference for your average single family investor. Thanks!

Sean...I agree with Basit. Thanks!

Hopefully for federal you are generating a passive loss with depreciation, therefore no federal tax on your rental income. Same thing will apply to Ohio Tax as well. Ohio does have a Commercial Activity Tax based on Gross Receipts, not net, but there is an exemption on your first million. Let me know if you have other questions. Thx

Thanks James. I am debating whether to switch PMs or not. I am not sure why this PM company is still not marketing the property as they wait for CMHA. Seems like that would be logical unless it is against some kind of housing laws as there is a security deposit received. Thanks,

I think it is fine, depending on what you are using it for. If you are using to buy a performing asset like real estate, great! If you are using to buy a liability like a car, not a good idea.

Welcome Colin! Go Elks!

Nicole,

That is great. I am just advising to do your homework before you place a hard physical piece of real estate inside an IRA. Self Directed IRA's are really pushed on this website, and they are great tax savings vehicles for certain items like real estate notes. Notes do not have a lot of tax benefits by themselves, so placing them inside an IRA is great! But rental properties are different. When you have rental properties inside an IRA, you cannot take depreciation. Depreciation is one of the most single best benefits of rental properties. It is a non-cash loss! How great is that.

Again, read the book first and then make the decision. I would never advise any of my CPA clients to put rental properties inside an IRA. Thanks!