All Forum Posts by: Dmitriy Fomichenko

@Heather R. welcome to the BP community!

@AK Robinson welcome to the BP community!

@Jim Herbst

If you company matches dollar for dollar, I would contribute to the max that they much. This is 100% return on your money, it would be very foolish to give that up. Up to what percentage does the company matches?

If you wish to contribute more into a retirement account, I would not put those additional funds into company 401k, since you will be very limited on the investment options. You may want to consider self directed IRA or 401k and grow your investments tax-deferred (or tax free in a case of a Roth). You can invest in real estate using your retirement account, but many other investment opportunities are available to you as well such as investing in notes, flipping properties, etc.

Great point Will, by creating self directed 401k and doing proper preparation you setting your self up for success financially in the long run. I am not 100% against stock market, but with conventional accounts that is all available to you. And that is not a true diversification. I personally had retirement accounts for many years but it wasn't until I used self directed 401k that I was able to grow it considerably. Self directed account gives you investment options, while conventional IRA/401k accounts are not designed to benefit you in the first place, but the fund managers.

@Austin Moran welcome to the BP community!

@Dan Redmond welcome to the BP community!

@Steve Coffey welcome to the BP community!

@Josh Morrow welcome to the BP community!

@Shannon S. welcome to the BP community!

@Randy King, if you get a HELOC, you will be reporting interest on Schedule A. There is no need for the note between you and the LLC, if you own the LLC you are simply putting money from your right pocket into your left pocket.

Also something else to note here: if you are intending using leverage (buying properties with financing), you would have to buy them in your name first and then transfer the title into the LLC - no one likely will lend to your LLC.

Hope this helps.