All Forum Posts by: Angie B.

I'm hoping someone can help me, as I'm learning what I can about using retirement for investing purposes for my in-laws. My father-in-law already does contract-work for us on the side for our rental properties. He has money in an IRA that he is waiting another couple of years to touch (at which point he will be 59 1/2). What I think he should look into, is establishing a contracting business LLC, opening up a solo 401k, rolling his IRA into that, and then investing in rental properties. (He already had one rental property that he fixed up and is renting, but he would like more.)

My main question is would he be able to do work on these rental properties himself?  I know the IRS considers that contributions, but if his line of business is that kind of work, then can it be considered okay, as long as the dollar amount equivalent of his work is under the maximum contribution limit?  Or does he really have to hire it all out?

Also, if there are any other important issues I'm missing, please point them out.  We'd love to help them find a way to use his retirement savings to invest in rental properties, without having to wait until 59 1/2 to take a large distribution (which he'd have to pay income taxes on).

Here are a few more, all in the northland: 

The Man Around the House

8383 N Stoddard Ave

Kansas City MO 64152 (Map it)

(816) 452-6309

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Dan Speck

1509 NE 57th Ter
Kansas City MO 64118 (Map it)

(816) 452-8761

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and this one's off craigslist, just a heads up

Handyman for all your needs,24 hrs service pools,roofing,gutters,painting,cleaning,what ever you need done just,call and save 816-606-1361 thank you joe 20 yrs exp.

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PM me later and let me know how it works out for you- I'm sure we'll be needing someone reliable on our list soon.

@Mike Hoefling 

  I recently got a recommendation from a friend of mine for Greg Hey.  Here's what she emailed to a group of her friends:  I would like to recommend a handyman that I am pleased with. He has installed a dishwasher and ceiling fan and has done other small jobs at my house. His name is Greg Hey and he can be reached at 816-392-6785 and his email is heygregandbeth@ aol.com. The only thing he says he does not do anymore is heating and air conditioning.

 I think he is from that zip code actually.  Has always been very friendly when I've spoken with him, he was just pretty booked last spring when I called.

 I also tried using the canned response with filters in Google, and had the same problem.  However, I just tried setting up an autoresponder in Zapier and it worked great. Zaps work every 15 minutes, so it's not quite immediate, but it definitely beats me having to personally respond to every inquiry (even if I am using canned responses).  I like to have a dedicated google account just for listings that autoresponds with a link to my scheduler (I use youcanbook.me) so I don't have to do anything but be notified of showings.  If you like, you can check out my scheduling page through my website, listed in my signature (feel free to click on a time slot so you can see my screening questions, just don't book a showing please) 

We are investors and we buy in that area- would be happy to make you an offer!  Also, we work with Sheila Callen 816-529-9669 from Realty Executives and she is excellent.

We've used James from Sweet Home Inspections.  I think he's from the Kansas side, but all of our investment properties have been in the northland.

Hi @Rob Scarborough - welcome!  We also live and invest in the Kansas City northland.  To tag someone, start to type exactly what you did, then look below the message box and there will be a drop-down menu to select that person's name.  I'm sure you will find a lot of help here on BP.  Definitely check out the podcasts- they are a great way to get started.

It worked GREAT and is very affordable- basically free, just bought some SMS credits so they could get text reminders 2 hours before the showing.  Here's the post about my process:  http://www.biggerpockets.com/forums/52/topics/1282...

If you want, I will PM you with a link to the one we have online now, so you can see what it looks like.

@Derek Smith 

No, it is completely free!  Basically a community classifieds, so there are rules regarding posting, and they vary a bit from group to group.

I recently stumbled upon another great place to advertise a rental home- the local Facebook Swap & Shop (or Yard Sale) page.  They are also a great way to find out what's in demand in a specific area- once you join your local Swap & Shop groups, you can use the search feature to look through all recent posts with the word "rent" for example.  Then add a link to your property in the comments of those posts, as well as make your own post advertising it.  I just did this an hour ago and already have three responses.

What other ways do you all advertise your properties?  We have used the yard sign, craigslist, and postlets and/or rentlinx, all with good success -although our best tenants so far have found us through Zillow (by way of postlets/rentlinx of course).  I had posted previously on my own Facebook timeline, but since we don't rent to friends or family, it doesn't really work there.   The local Swap & Shop page is already working much better.