Haresh Melwani
Best Low Cost Self-Directed IRA Provider/Custodian
29 October 2018 | 6 replies
Roth IRAs cannot be transferred to Solo 401k plans.A few other Solo 401k benefits: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.
Kristian A moreno
How can my money grow as I’m saving up for my first purchase?
29 October 2018 | 19 replies
If you're self-employed, the Solo 401k will provide many benefits over a self-directed IRA: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)
Patrick Philip
How does Blackstone Group improve properties?
15 October 2018 | 2 replies
Patrick - The Blackstone group is a well oiled machine that participates in many different facits of real estate ranging from apartments to hotels and even mobile home parks.
Derek A.
Best areas for Multi Unit in Chicago area
1 November 2018 | 13 replies
My profound thanks to everyone that participated in the forum!
Mark Anderson
Questions to ask a real agent
17 October 2018 | 2 replies
You need to make sure that they are an active participant in your program.As examples:if you say you are looking to find off market properties, that would mean that the agent would need to call around neighborhoods looking for potential sellers and follow up vacant home leads.
Harry Walker
Are you legally wholesaling?
3 November 2018 | 35 replies
There are usually a lot of attorneys and title companies involved in wholesaling....I don't think all those professionals would risk their credentials if what they were participating in was illegal.Like everyone said, look up your local laws as they are different in all 50 states but as long as you are following the language in the contract the seller has signed you should be fine.If it says don't market, don't market, if it says no assignment, don't assign...if that's the case, get a new contract.
Jared F.
LLC AND taxes for Syndication Participation
18 October 2018 | 6 replies
Im participating/investing in a multi family syndication for the first time.
Ian Hamer
General Contractor Looking For MF Investors
24 October 2018 | 2 replies
I suggest you read this BP article on how to find a Mentor as many people attempt solely asking on this forum for participants but do not get the best results.
Mindy Jensen
It’s finally here... Our NEW BOOK, How to Invest in Real Estate!
20 April 2019 | 2 replies
Not only did Josh and Brandon team up to write this ultimate guide, but they’re teaming up to participate in a live author Q & A session—exclusively for people who buy this book from biggerpockets.com/store!
Benedict Reyes
Accessing 401K after Maxing Out on Loan
20 October 2018 | 4 replies
@Benedict ReyesYou will need to check with your plan administrator as the following 401k participant loan rule will need to be considered. https://www.irs.gov/retirement-plans/retirement-pl...https://www.irs.gov/retirement-plans/retirement-pl...