Jordan Christensen
First 4-Plex Questions
6 July 2018 | 5 replies
We’re thinking to do an FHA loan, and owner-occupy, for 3.5% down to conserve precious capital.
Aamir V.
best bank for rent deposits / checks?
11 July 2018 | 2 replies
I don’t care if it’s Benjamin’s, my time is precious.
Raymond Hill
Multi Family Property
20 July 2018 | 6 replies
Many did mill and factory work- jewelry and textile so you see the multifamily in places like Central Falls, Pawtucket, parts of Providence, Cranston, West Warwick, etc.
Leon Li
Need advice on accept or decline tenant
26 July 2018 | 72 replies
@Matt K.Mostly small medical bills but also utilities and jewelry, one of them did have 2 car loans super late.
Sean Hanegan
Moved family to rv in the woods, first tenant moves in next month
30 June 2018 | 6 replies
But far more precious.
Frank Boet
San Antonio short term rental
31 July 2018 | 13 replies
It would save families from trying to navigate San Antonio and make it to the events on time; It would allow them to spend more precious time with their graduate-because time with their sons and daughters and siblings and spouses is very limited on that weekend; and it would provide a year-round opportunity for you to keep the unit filled and cash flow.
Johan Hultman
Section 8 rent increase - only after new one year contract
1 May 2019 | 20 replies
The rent has not been rasied for the last 10 years by the precious landlord for some reason.Now that the contract is coming to an end (it has actually already ended), section 8 tells my PM that they want me to sign for a new year before starting negotiations for a rent raise.
Bola A.
Insurance policy basics
18 May 2019 | 3 replies
.- Personal Articles: Coverage for belongings that have a special or collectors value such as Jewelry, Furs, Fine Arts, Collectibles, etc...Depending on which company is being quoted, some of these otherfactors may get you credits:- Insurance Score (company pulls certain info out of your credit report) It is not your credit score but generally better credit will result in a better score- Time at your job- Education level- time at current residenceGood Luck
Chris Keator
Self Directing IRA to pay for rehab costs
16 September 2018 | 5 replies
Following 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(mThe 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 companyThe 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 2018, the solo 401k contribution limit is $55,000, 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.)