All Forum Posts by: Robert Borer

Greeting BP RE tax gurus:

I've received a notice from my SD-IRA custodian to report the fair market value of my "investment".

I invested in a Single-Member LLC, of which I am the "Single-Member". The single-member LLC was created with a bank account with a starting balance. The LLC is nothing more than a vessel to hold my real estate funds within and doesn't provide any services or sell any products or actually generate any revenue. I've essentially used this LLC as a way to pay for real estate-related expenses.

I have two questions related to this.

First - would the "Fair Market Value" in this situation literally be the balance in the bank account for this LLC?

Second - Is there an ideal strategy for what that bank account balance should be at the end of the year?  Would there be a tax consequence if the balance at the end of the year was greater than the starting balance? Lower than the starting balance?  If so, what should I anticipate for taxes?

Thanks for your insights

Fully rented Single Family Residential Investment Property located in desirable Detroit Beach subdivision walking distance to private beach.Property built in 1935 and consists of 3 beds, 1 bath, 1056 square feet of living space on a .14 acre lot.Property is fully rented with tenant in place with $700/mo lease.No immediate rehab needed.Offered at $30,000.Fair Market Value is $60,000.Go to http://willsellquick.co/406677 to make your best offer.www.metrodetroithomesalesolutions.com

Investment property for sale in Monroe, MI located at 3264 Beechwood Street. : This property is worth around $80,000. The total land size of this property is 0.09. This property comes rented with tenant in place with a $800/mo. lease. Living space is 1320 square feet consisting of 4 bedrooms and 1 bathroom. Mechanicals are in good shape. Roof is in great shape. Siding is in excellent shape. Detached garage comes with new door. Garage will need a new roof in the next 5 years (roof is sound, but should be replaced soon). No other significant rehab needed.

More details and photos can be found at: http://viewmyhomeonline.co/419888

Investor Quits! Liquidating portfolio. Add this well-maintained duplex to your rental portfolio and get instant equity, cash flow and 15% CROI. Upper unit is 2 bed/1bath and comes rented at $625/mo. Lower unit is 2 bed/1bath and comes vacant with turnover rehab 90% complete. Lower unit normally brings $750/mo. and includes a full basement. Both units combined - 1,728 ft2. New roof. New furnace. Siding and windows in very good condition. I car attached garage. Drive long enough to park 3 vehicles. Nice back yard. 2016 annual taxes approximately $2,000.

http://metrodetroithomesalesolutions.com/buyer-1-h...

http://connectedinvestors.com/investment-property/229-michigan-ave-monroe-mi

I currently have this property under contract.

Offers may be emailed to [email protected]

Please call 734-649-5329 for more information

I need a reliable handyman in Indianapolis, IN - for relatively small repairs - nothing too involved, nothing where you would actually get a contractor involved.  Does anyone know of one they would recommend?

Hey BP community - You've read it,... I've read it.  It's shaped most of our investing views, and set us down a path none of us would ever do differently. 

However,  .... I'd love your perspective on sharing this incredibly influential book ... with your kids. 

Specifically, kids that are still in school.  Specifically, kids that still need to be motivated to get good grades and graduate.

So my main concern is... since the book is all about "what you learn in school is not what is going to make you rich", doesn't this have the potential to completely derail all motivation for kids to continue to take school seriously, get good grades and at very least graduate?

Have any of you shared this book with your kids and had it go well with their attitude about school?

Would love to hear your thoughts and perspectives, especially you investors with kids.

Am I overthinking this?  Or should I wait to share until after graduation?  When is the right time to share this kind of information and perspective with kids?

Thanks in advance for your thoughtful responses.

Hey BP Community - Getting my BRRRR strategy in place and am looking for your recommendations for lenders in the Indianapolis, IN area that are open to doing cash-out refi's on rentals in the Indy market. Thanks for your help. Rob.

Thanks Max !!!

Hey BP community - especially those who are investing in INDY:

I'm an OOS investor closing on two Buy & Hold properties in INDY in the next month.

I need a referral for a good Home Inspector or Contractor that can do a walk through on the properties and give me verification of property condition, mechanicals, damage, etc...

Thanks

Hey BP community - especially those who are investing in INDY:

I'm an OOS investor closing on two Buy & Hold properties in INDY in the next month.

I need a referral for a good Home Inspector or Contractor that can do a walk through on the properties and give me verification on property condition, mechanicals, damage, etc...

Thanks

Rob