All Forum Posts by: Peter Thielemann

@Dennis Tierney thank you. This looks like it will work for me. If I need to pull money out to subsidize my retirement. It's there I will be taxed.

@Bill Exeter thank you. Definitely appears to be more than I expected.

@Bill Exeter another question, can a SDIRA(Roth) be used as the down pmt for purchasing a rental property. Example selling price 180k and use 30k SDIRA and finance 150k. I've been told this is not allowed.

@Alberto Medina you're investing depends on what kind of return you're looking for. Flipping gives you a quick return but if you're just jumping into investing flipping can go south very quickly. If you look at purchasing rental property it gives you consistent money in the long run and also creates generational wealth. Check out the meet-up app. It hooked me up in my area with people with similar interests. Like BP people offer suggestions services that you would be looking for in your area. Do your homework, Suggestions from a newbie.

@Quintin Green, question for you what's the LLC for? If you're doing your own business ask your local banks specific questions regarding their knowledge about your business. Don't use institutions that tell you they'll get back to you with an answer. You want people educated on your specifics. Also do a Better Business Bureau search of the institution.

@William Durel, hello I'm in the beginning process of reinvesting my 401k also. My interest in converting my 401k to a self-directed IRA is to invest in real estate long-term. Being over 59 + 1/2 I can roll my company-sponsored 401k 2 a custodian for a self-directed IRA. Also from what I understand adding an LLC gives you checkbook control of your IRA. Which can cut out some of the administrative fees when purchasing rental properties. I was turned on to BP and the suggestions create new questions for me. I keep digging for as much info as possible before I make the switch I would say do the same. Advice from a newbie haha.

@Dennis Tierney, thank you for your reply. For example, if my purchase price of 180k is sold after 13 months for 200k. And the money's go back into the IRA. There will be no taxes on that capital gain. Then the only taxes I would be concerned about is withdrawing money from the IRA in my retirement to live on. And another question, would I be allowed to withdraw money from the IRA to live on?

@Bill Exeter, thank you for the reply and the info. I wasn't expecting it so quickly. Regarding the second part. What other type of investment income is there on a rental property other than passive income?

Hello Bill Exeter, Peter newbie here, thank you for reply. A question, stems from being able to sell (after growth of the equity) the property to possibly purchase a larger one with a 1031. re; UBTI if the IRA purchases a rental property without barrowing( 200k IRA 180k property) and the income from the property goes back into the IRA. The 20k left in the IRA for incidentals for the rental. With the rental income going back into the IRA and monies being used only for the property/properties. Will there be UBTI ? The main ? is being able to do a 1031 within the IRA. Another question, if the IRA purchases the property outright( 200k IRA 180k property) without barrowing. There would be no UDFI?

@George Blower, question when replying to the last reply does it go to only the last person or would everybody on the feed see this reply? And another question can you do a 1031 exchange with a property purchased with SDIRA in an LLC?