All Forum Posts by: Steve Frick

Hello,

I am still very new to BP and have found a lot of great information here. Thanks to all. So here is my question. If I start a solo401 and use that to fund a specific flip with a local RE business can I do other flips with the same RE business with some personal money to put in my personal account. So I am already involved with them with non-retirement can I start another project with some retirement funds? I am not part of their LLC.

@Doreen Chaisson Thanks, I will go with 2 LLC's. One just for the SDIRA and one for personal gains. The SFH has been a rental of mine for about 4 years and no family is involved. I was going to transfer the house to the personal LLC. But before that happens I will go with @Drew Castleberry and consult with a real estate attorney for the best path here in KY. Thanks again

Hello BP

I am still a beginner in REI. I do own one SFH and manage another. I have been reading and learning so much over the last 6 months that 2016 will be full steam ahead! I do have a partner that wants to buy more SFH's and I on my own want to roll over my IRA to a SDIRA and do some flips in the area. But before I do I want to make sure the foundation is solid. As of now I do not have a LLC stated, or S-Corp, or anything to that matter. Before I move ahead is it a good idea to start a LLC? Or any better entity for this. Or should i start 2 one for the partnership and one for the SDIRA? One more thing how do I transfer the existing rental home I have to the new LLC or whatever I decide to start. Thanks for all your posts it has thought me a lot and given me the courage to move ahead in my REI future.

Before the New Year sneaks up on all of us I just wanted to thank everyone on here. I have just joined in the last few months and I love it. I am always reading you posts and going over to YouTube and watching videos. I have 1 SFH and take care of another for a friend. You all will make 2016 a great year for me and my family. I just learned about the self directed ira, witch I will implement next year and purchase a Multi. Not to ramble on like your drunk uncle at New Years but thanks again and happy New Year.

Big thank you to all you guys. This looks like a very useful site to say the least. What is this meet up you are talking about on Wednesday @John R.

I am also a new member. What have you found to be the best thing about this site?