David Wurzel
The Basics Of Business - For Newbies (And Oldies)
17 June 2015 | 2 replies
Time is the most precious thing a person has.
Brandon Booth
Sellers agents not responding
8 August 2016 | 24 replies
@Brandon Booth, Time is the most precious commodity that professionals in real estate have.Instead of asking specific questions, try this:"Hi ListingAgent,I saw your listing on 123 Main St, and want to make sure I don't waste anyone's time arranging a viewing, writing an offer, etc, until I'm sure that I'm interested in the place.
Mike Keenan
Preserve 401K / IRA with Real Estate in Retirement
17 April 2023 | 6 replies
@Mike KeenanFollowing are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both 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;Both 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 (IRA LLC) 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.)
Andre M.
Portland (Oregon) ADU taxes
29 October 2018 | 13 replies
It mainly just comes down to you having to waste precious time to appeal.
Daniel Paloscio
What Instruments Other than a Mortgage Can Secure a Hard Money Loan
16 April 2015 | 8 replies
If you have other assets, cash on deposits, securities, boats, planes, cars, trailer, tons of appraised jewelry, inventory, leases or such, then you can use a UCC to file a lien on those assets.
Precious Thompson
Budgeting for Expenses
2 May 2015 | 4 replies
@Precious Thompson,I use a pretty consistent 10/10/10 for prop management/repair-maint/vacancy as a baseline.
Jordan L.
What percentage of you net assets is real estate?
29 December 2010 | 21 replies
A smattering of stocks via my 401Ks, some gold/silver, jewelry, firearms, art, etc....
Precious Thompson
Advice for applying FHA loan with credit no debt average income
15 September 2017 | 10 replies
Precious Thompson based off what you're saying, your chances are 100% of being approved for an FHA loan, assuming there are no other crazy issues, like tax liens, nonpayment of taxes, etc...
Scott Trench
In Your Market, Does Real Estate Beat the Stock Market Over the Long Term?
5 March 2015 | 37 replies
Additionally you can use options which aren't leveraged per se, but can work that way if used properly. 2) The fact that you say your "interest in liquidity is dismissed" makes me really want to encourage you to do some more research on investing in general whether that be RE, traditional investments, precious metals, etc.
Pat L.
A new scam careful out there :)
9 July 2013 | 3 replies
The home owner retrieved a towel from inside his home, the woman dried off, dressed and left.It was at that point he re-entered his home to discover that he had been robbed of a handgun, jewelry and medication.