All Forum Posts by: Matt Mulvihill

Before Elon musk started spaceX, his friends sat him down and showed him a montage of rocket explosions and said why he shouldn’t do it. I think we all know what happened next

@Tim Vest sent a pm

Hi Dustin! Welcome to BP! I'd love to connect and see if I might be able to help you out with finding properties for you to invest in. 

@Tim Vest Welcome to BP! I am a new agent in Charlotte and BP has helped me learn more than I could have ever expected. I would love to connect and see how we can help each other get off and running! 

@Rob Massopust I have a theory that I think is in line with what you are saying, so hear me out lol. I believe being on the sell side and even the buy side, in many industries not just real estate, is going to go through some major changes in the near future. For example, carvana is really shaking up the car buying process by eliminating the need to deal with pushy car sales people and we all know what knock and open door are doing to the industry. I think the best way to position yourself in the future is too be more of a resource than a sales person. This might require some extra work, but ultimately people feel more independent now with all the information out on the internet. In my previous sales positions, which was mostly finance, id create value by explaining you can learn some info on the internet, but there is a reason why people spend time and money getting these licenses and its so you don’t have too! There isn’t enough time in the day to learn something someone else is an expert in and usually its a small price to pay to have someone professionally assist you

@Carl Fischer you must have read my comment where I said where I worked so again you’re correct. I spent most of my career at Vanguard and generally only had a book of business of about 15-20 million so not too much but not bad for someone in their 20s. Truthfully though I’d love to learn more about investing in llamas like you said, do you have another publication you can send me? There might be some considerable tax advantages I’m missing out on

@Dmitriy Fomichenko I apologize I read the question wrong which is why I wrote the edit. It seemed like there was confusion between if it was using funds from the account to purchase a property or if the property would be held in the account. I’ll leave it at that because I don’t want to create further confusion but I apologize if I misspoke

@Carl Fischer I am learning about real estate, totally correct but I know about investments. And again totally correct the IRA publication you referenced mentions property 45 times and only mentions stock 15 times. But if you look at bottom of page 9 top of page 10, it clearly states property can't be contributed to the IRA but the funds can used to make the purchase which is what I said. as for holding it as a position, I was wrong I guess in theory if your IRA is large enough to purchase a property (which that word along has many meanings) you can sell what ya got to purchase it bearing in mind the strong limitations like the cash flow can't be another contribution because its passive income and IRA's as we know are funded with earned income or that this can't be personal property it has to be for an investment. As for the tax advantage, that would be the only thing I could think of that might have this make sense but then we'd have to start the conversation of liquidity and when you need to take RMD's.

@Dmitriy Fomichenko neither thing you sent me made sense. You just reinforced that you can't contribute beanie babies to an IRA and the second thing you sent me didn't mention owning a house in an IRA at all.

Im not here to start an argument, I apologize if something I said came across as wrong. At the end of the day all I can say is if you have no involvement with the property, it might be possible. As a fiduciary I would say speak to an accountant, they will know if the tax advantage makes sense but other than that it would not be my recommendation

@Jeff Adams generally a syndicate is when you pool money with other investors to get into larger deals than what you could afford on your own. I’ve seen the word thrown around with a few other ways but that’s my interpretation (I’m new as well). Generally to find these people your best bet is to attend local investor meet ups, most towns have them now. If you’re looking to buy, also consider working with an agent. They’ll help find the properties for you and you don’t pay for agent the seller does.

Hope this helps!!

@Matt Mulvihill edit: read more of the comments and some are correct but it seems like some might be confusing using those funds to make a purchase vs holding it as a position and that’s a big difference.

Full disclosure I worked mostly for vanguard but also have experience with LPL and TIAA