All Forum Posts by: Robert Reineri

Thank you Justin, much appreciated is the advice of a pro!

Can one take a loan from the Solo401K in the current year, and use a distribution from the SoloK to pay back the loan in a future year? For example, if I borrowed $10,000 this year, made payments each month until 2019, can I use a distribution in 2019 to repay the remaining balance on the loan? 

The reason I ask is that I have need of the money now, but don't want a taxable distribution from the plan until next tax year.

I don't see any reason why this would be an issue but wanted some expert opinions. I'm not trying to cheat, because I would still pay taxes on the $10,000 distribution in 2019. So the IRS would get it's money in full anyhow. It's just that I'm anticipating a "better" tax situation next year - that is, for personal medical reasons in my family, I'm anticipating a lower level of income next year.

Anyone had experience in buy/hold on country/small town properties. I'm looking at some nice areas in Tennessee that are a couple hours from major cities, but may be near scenic and/or natural attractions, and slightly "larger" smaller towns, like the county seat. I may even use it as a vacation home later on when I fully retire.

These properties are dirt cheap, many under 100k for a nice, clean 2 BR/2BA on a spacious lot, some even with a little acreage. My home market of Tampa has gotten ridiculous. People paying top dollar, and you usually have about an hour to come up with the cash if you want a deal. Tired of it.

Would like opinions/experience on the pros and cons of small town rentals.

You should make every effort to MAX OUT your 401k. I'm talking over and above the match. It comes right off the top line and you pay no taxes on that money now. 

I did this for the last 15 years, but wish I'd started even sooner. As it is, I'm still "retired" at 58 (meaning i only work because i choose to) and have plenty of cash money for RE investment inside my solo 401k.

When you're 60, you'll thank yourself.

Thank you for the advice Rick . I'm an extremely careful and prudent person  and I definitely do my due diligence  not only on my properties but on my team members as well.

I've had several contacts and they all seem to be from reputable companies so far.

I've joined the local real estate investment group, several actually, and will be attending some meetings over the next couple of weeks. Will definitely follow your advice.

And more deals to be had.

I'm interested in developing a long term relationship to fund my flips with a hard or private lender. I have money to fund the down payment and repairs. I do this full time, and I have a good credit score. If you have money to lend and are interested, please contact me at the email address in my signature and send along a rate sheet please.

For starters, I'm looking at homes in the under-200k range in West Central Florida (Tampa Area), where I reside. I'm also interested in exploring non-recourse lending in my Solo 401K for a buy and hold strategy.

Thank you in advance for your interest.

Sorry for duplicate post. Admin pls delete.

Dont you need a real estate license to do this?

Anybody have dealings with this firm? Opinions? Experience?

I've been in touch with one of their agents. Supposedly they do the whole flip cycle for you..find a property, finance purchase and rehab, and then list and sell it.

Sounds great to deal with one firm. Almost too good to be true, so I'm hoping to draw some wisdom out of BP.

Thanks