All Forum Posts by: Thomas Kwan

@Daniel Dietz that is excellent info. This helps!!! thanks

@Carl Fischer thanks for the response. Looks like once the solo 401k money is in the LLC, it makes the LLC much less flexible. It has to get a non-recourse loan. Curious if there is any other setup so that the LLC can have flexibility in term of getting any loans.

@Alex Olson thanks for the reminder. it is a self-directed solo 401k so we are good there.

There is a potential flip project. Can a Solo 401k partner in a LLC that has other non-retirement money/partners to acquire the lot, and get a construction loan? Will the construction loan have to be non-recourse?

Investor looking to buy investment properties in modesto. I am seeking agent recommendation. thanks

Hi Logan

Thanks for the info. The form 3500 is for saving the $800 Franchise Tax right? Yeah, I am thinking to fill that form out, but it is such a complicated and long form. Do you know if I need to file that once a year or not? I also have a non-recourse loan for the rental and wonder if it affects my exemption status if applied.

Also, filling that form out or not, 568 is a separate concern right?

thanks again for your time

Hi George,

Thanks for your info. The Solo 401k is the sole member of the LLC.

Hi there

I am in California and have a Self-Directed Solo 401k that owns a LLC for holding only rental properties and receiving rental incomes. Anyone knows if Form 568 (Return of income) filing is needed?

thanks

I have a few questions regarding the foreclosure process.

When you purchase a 2nd position at the foreclosure auction, I understand that you still need to pay the first position off afterward. Do you need to pay the interest in arrears as well as the original loan amount or just the original loan amount?

A different scenario. Say you purchased the 2nd position privately from the first position lender, and the first position started the foreclosure process. The money received from the auction will need to cover the legal fees for the auction, the original loan. Will that money need to cover the interest in arrears for the first position loan as well or it will get cancelled out? I am trying to calculate if the 2nd position will receive anything or not.

I got a 2nd position note for a walnut creek property that worth around $900K+. The loan amount is $130,000 and the rate is at 15%. The borrower is 2 month behind but the note holder wants to access cash now. PM me if interested.

hi there

We are looking at an empty lot in modesto. it is currently R-2 zoned and it is about 28,000 sq ft. Last time I checked with the city, they said we can only build a duplex on it cos the site has no public sewer.

Anyone has experience in building duplex or putting a manufactured home in an empty lot in around Modesto? I want to find out how much would it cost to build a duplex and want to see if it is worthy to do.

thanks in advance