
4 September 2017 | 12 replies
Of course you could still submit it but it might not even be looked at.
5 September 2017 | 2 replies
One of the big benefits of using the same lender is, besides building relationship, they have all your information already, so you don't have to spend hours trying to submit all the necessary documents.

8 September 2017 | 8 replies
@Sam MillerFollowing are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (Checkbook IRA) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016, the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

8 September 2017 | 3 replies
My agent indicated that a pre-qual needs to be submitted with an offer.Fairly certain that hard money is my best (if not only) play for this deal, taking into considering my income, cash on hand, and the opportunity to close fast.

10 October 2017 | 11 replies
If you give him another lease term option he has until the 31st of Oct to accept or submit notice he will vacate per the terms of the non-renewal.

14 September 2017 | 3 replies
I was thinking of submitting an offer on the Property but I'm not knowing if I can even rebuilding there would be possible.
16 June 2018 | 14 replies
After about a year, you could try to buy another property to house-hack, but the thing is, you have to justify to the VA (your lender will submit it for you) why you need another VA loan.

9 September 2017 | 4 replies
My fear is that after submitting a successful offer, the deal will fall through.

17 September 2017 | 16 replies
Good day BPI recently purchased a 4 unit property in SE Wisconsin ( Kenosha ) prior to closing I asked the previous owner to provide the lease agreements and I tried to get them to submit an estoppel agreement but they wouldn't because it wasn't a "legal" document.

14 September 2017 | 15 replies
On the flip side, when you submit your offer, you put an expiration time on it.