All Forum Posts by: Neil Copeland

@Dmitriy Fomichenko

@Brian Eastman

@Justin Windham

Thank you all.  I do in fact have a TIN for my Schwab CRA.

@Brian Eastman

@Dmitriy Fomichenko

Spot on. Thank you both. I am really surprised no one has asked that, or maybe I am the only one that didn’t know those specific mechanics. 

One other thing; I would need to request a TIN for my Solo 401k from the IRS correct?  I have my account at Schwab and not sure it had one assigned to it. I may have missed it though. 

I have read through this entire thread and have a very specific question(s) regarding investing in promissory notes secured by real estate with my Solo 401k. On the promissory note, must the Lender be the actual name of my Solo 401k? And as such, will the name on the Security Deed be the name of my Solo 401k? And finally when the Borrower issues a 1099 at the end of the year, should it be in the name of my Solo 401k so as to keep everything clean and clear? Is there any reason that my LLC that sponsors my Solo 401k be involved in any way? I want to make sure that all of the interest earned is passive and tax deferred. I don't want to get jammed up in some naming issue.

Thanks in advance. 

Hey everyone, thanks for the help, and I am in the process of getting my traditional IRA funds rolled into my Schwab CRA. Can I also roll my wife's traditional IRA into this as well?

That is what i figured and just wanted to check.  I suspect I am sitting on about 50% equity.....

I have a rental property that I used to live in, which means I have loans against them in my name. After the financial crisis a bank that I held the HELOC with locked down the credit usage, meaning that I could make payments on the HELOC but this would not free up the capital for usage again. After speaking to the bank they stated they could do a reassessment of the loan and the property value and possible re-open it. My question is this; might they do a title search and find that the property is titled in an LLC?

@Basit Siddiqi

Basit, I am not quite sure what I am going to do yet.  My mind is open to most any and all opportunities that fall under the umbrella of using my Solo 401k.

@Dmitriy Fomichenko

Dmitriy, thank you for all of your help, and everyone else as well.  I am thinking I can know move beyond the legal issues and on to some real strategy....

Thanks for playing along. I am not doing this as an academic example, but more to see what else is possible besides traditional real estate. I saw a video of yours today ( well done by the way) and understand you are an engineer as well. Maybe this helps with how I think. 

The lawnmower is an extreme example to make a point. Someone wants to start a lawn care business, for example, but cannot purchase the equipment. I buy it, but they pick it up, service it, and lease it from me.  They finish the lease and I sell it.

One other thing. Did I catch a clip in one of your videos about where you could invest in a C corporation?

So confused.  So I can buy a rental property and lease it to someone, but I cant buy a lawnmower and lease it to someone?