All Forum Posts by: Dmitriy Fomichenko

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Dmitriy Fomichenko has started 64 posts and replied 17411 times.

New Member Introductions

Post: Any other new members in Maine

Dmitriy Fomichenko

#1 New Member Introductions ContributorPosted June 11, 2024 17:23

Solo 401k Expert
Anaheim Hills, CA
Posts 17,853
Votes 6,247

Hello @Mitchell Minutillo, it’s good to see you here on BP!

Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users

Lots of luck.

0 Votes

Portland, Maine

New Member Introductions

Post: New to Real Estate Investing

Dmitriy Fomichenko

#1 New Member Introductions ContributorPosted June 11, 2024 14:32

Solo 401k Expert
Anaheim Hills, CA
Posts 17,853
Votes 6,247

Welcome to the BP community @Angela Brennan ! We're glad you joined us.

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Good luck on your journey!

0 Votes

Las Vegas, Nevada

New Member Introductions

Post: I'm new here

Dmitriy Fomichenko

#1 New Member Introductions ContributorPosted June 11, 2024 14:21

Solo 401k Expert
Anaheim Hills, CA
Posts 17,853
Votes 6,247

Welcome to BP @Ehren Carl! You have found the right place for a plethora of information on REI.

Read Beginner’s Guide to help you get started: http://www.biggerpockets.com/real-estate-investing

Good luck on everything!

0 Votes

Salt Lake City, Utah

New Member Introductions

Post: New Member, just starting out

Dmitriy Fomichenko

#1 New Member Introductions ContributorPosted June 11, 2024 13:56

Solo 401k Expert
Anaheim Hills, CA
Posts 17,853
Votes 6,247

Welcome to the BP family @Steven Mitchell Rollins, you came to the right place to learn all about real estate investing!

Read Beginner’s Guide to help you get started: http://www.biggerpockets.com/real-estate-investing

Best of luck on your REI journey.

0 Votes

Atlanta, Georgia

New Member Introductions

Post: Hello BiggerPockets! New PRO here

Dmitriy Fomichenko

#1 New Member Introductions ContributorPosted June 11, 2024 13:51

Solo 401k Expert
Anaheim Hills, CA
Posts 17,853
Votes 6,247

Welcome to the BP family @Katelyn Bethmann! Great that you joined the site!

Wishing you the best!

0 Votes

Tax, SDIRAs & Cost Segregation

Post: What to do with my 401k?

Dmitriy Fomichenko

#1 New Member Introductions ContributorPosted June 11, 2024 09:55

Solo 401k Expert
Anaheim Hills, CA
Posts 17,853
Votes 6,247

Quote from @Bonnie Low:

Quote from @Dmitriy Fomichenko:

Conventional custodians (Vanguard, Fidelity, Schwab, Merryl Lynch, and the like) will not allow real estate investments in an IRA. So, if your goal is to invest in real estate using your IRA funds - you will have to find a custodian who will allow that (aka SDIRA).

When your IRA buys investment property - the IRA is the owner, not you. All income belongs to the IRA and must flow back to the IRA. As the IRA account owner, you can take distribution from the IRA, subject to applicable taxes and penalties.

When you say "when your IRA buys investment property....you can take distribution..." I assume you mean the SDIRA, correct?

Yes, real estate property can be purchased using a self-directed IRA only.

1 Vote

Good tip about contractors. Thanks for sharing @Audrelyn Grace !

0 Votes

Real Estate Deal Analysis & Advice

Post: 18 Unit (Owner Financed)

Dmitriy Fomichenko

#1 New Member Introductions ContributorPosted June 10, 2024 22:37

Solo 401k Expert
Anaheim Hills, CA
Posts 17,853
Votes 6,247

Congrats on the portfolio growth @Blake McWilliams !

1 Vote

Real Estate Deal Analysis & Advice

Post: 406 N 14th Avenue

Dmitriy Fomichenko

#1 New Member Introductions ContributorPosted June 10, 2024 21:24

Solo 401k Expert
Anaheim Hills, CA
Posts 17,853
Votes 6,247

Thanks for sharing your journey @Cinterro L Jones !

0 Votes

Real Estate Deal Analysis & Advice

Post: First Airbnb Property

Dmitriy Fomichenko

#1 New Member Introductions ContributorPosted June 10, 2024 20:56

Solo 401k Expert
Anaheim Hills, CA
Posts 17,853
Votes 6,247

Congrats on the successful Airbnb @Jerrod Rosen !

1 Vote