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Results (10,000+)
Ivan Larios Go for real estate broker or investor first?
30 September 2016 | 5 replies
Read the blogs and continue to contribute on the forums.
Anna Greer Rental Market in South Bend, IN
30 September 2016 | 9 replies
Target industries include IT/data, logistics/warehousing and advanced manufacturing.South Bend being a college town with several Universities/Colleges (Notre Dame obviously being the largest one) creates student housing opportunities for approximately 20,000 plus students among all the institutions.All this spells opportunity and many out of town, out of state and even international investors have and continue to try and claim their stake.As indicated by @Immanuel Price and @Aaron Linden the University of Notre Dame in partnership with the City of South Bend has contributed a lot to the revitalization of the City that is bringing new jobs and the need for new housing.
Marcus Gold TSP to IRA
11 November 2016 | 7 replies
You may also want to consider an IRA LLC or a Solo 401k.Following 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 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 (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.)
Antonio Sosa New Member From Texas
28 September 2016 | 2 replies
Hello Bigger Pockets Community, i am now starting to become active on the website, i have been listening to the podcast and now looking to learn and Contributing to this Exciting Vehicle of Real Estate
Ken Scarince What is an acceptable or common underfunding of the Reserve?
30 September 2016 | 4 replies
@Ken ScarinceMost reserve studies will speak to the standards for percent funded and contribution rates.
Madeline Burke Furnish all at Once
29 September 2016 | 1 reply
If so, do they have furniture to contribute?  
Bradley Cumming College Student Seeking Start Up Advice
6 October 2016 | 10 replies
Along with the refi after a year or two, I would save up the cash flow to buy another property or contribute to the down payment to get to 78% LTV as fast as possible to avoid PMI and to be able to qualify for a regular loan.Based on everything I know, this plan seems to be the most efficient way to acquire as many units as possible in the shortest amount of time, but again I am fairly new and don't know all the possible options.
Bradley Cumming Hungry UNC student wants Real Estate success
29 September 2016 | 2 replies
We are young but very hungry.Looking forward to networking and contributing to this awesome community that has already taught me so much!
Account Closed Can you something like a 1031, but to purchase notes?
30 September 2016 | 3 replies
Those funds can only accept rollovers from other qualified plans, or you can make cash contributions to them from earned income.Once you establish self-directed plan and acquire asset inside of it - you no longer need to worry about doing 1031 enhance inside of it.
RE Thompson New St Pete Member
29 September 2016 | 2 replies
I have plenty of growing to do and am eager to learn as much as possible.I am looking forward to getting to know the BP community and making a relevant contribution!