All Forum Posts by: Ronald Stanley

Thanks Dmitriy. Lets say that I convert my wife's old 401k into a SDIRA and I use it to purchase a property in the future. When I sell the property and make a profit I understand I wont have to pay a capital gains tax but I may have to pay an unrelated business income tax. The rest of the profit would be distributed to me correct? Or does all of the profit have to go back into the Self Directed IRA. In other words I want to be able to use the profits now.

Thanks Matt. We will probably convert my wife's 401k into a SDIRA so we can invest in the future. A 1031 exchange would be a good idea for deferring taxes. I am ready to pay of this mortgage. It has been a dream thus far and to now we have the opportunity  to do it so I'm going for it. Thanks again  

https://apiexchange.com/capita...

Hey family,

I purchased a rental property in 2016 under my own name for $135,000. The home is now worth $225,000 and I plan to sell it in the next six months.

My plan is to use the profit to pay off the mortgage on my primary residence. I was advised that there are tax savings when selling a home that's owned by a self-directed IRA. Is it true that I can avoid or limit capital gains taxes? If so, how is this done? I have some money in a traditional 401(k) and My wife has a little bit of money in an old 401(k) from a company she no longer works for. We are thinking about rolling her funds into a self-directed IRA.  Is it too late to incur the tax savings since I bought the home in my name or is there a way that I can put the rental home into a self-directed IRA before I sell it? Any advice would be greatly appreciated. The rental home has a mortgage balance of $111,000 if that plays a role in your answer. I expect my capital gains taxes to be north of $30,000 from the sale but I'm not really sure how to calculate what it will end up being.

@Ned Carey

Thanks Ned. I agree when I heard the cost it sounded ridiculous. I am getting a lot more responses than I thought to this post. It’s encouraging that so many people are eager to help. Do you mind if I reach out from time to time to pick your brain?

@Greg H. Thanks Greg. Is there a good contact number to reach you?

@Arnie Abramson Thanks Arnie. Can you shoot me over your information when you get a chance. I need some advice on what to do to get started.

@John Sparagna Thanks John. I live in Acworth which is just north of Kennesaw. Would you be open to a call later this week to share your experience? If so, what’s the best way to contact you.

@Denise Evans Hey Denise, I checked out your website and it is very impressive. I live in Georgia. Do you offer consulting or coaching in Georgia? If not, can you recommend anyone in Georgia that offer similar services to you? I am a beginner in tax deed investing and I want somebody to show me the ropes.

@Ned Carey Thanks Ned. Do you recommend any tax deed investing courses or books that were particularly helpful? I have been offered coaching in the past. The cost ranged from 25k to 50k. Does that seem reasonable? Do you coach any students?