Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
Results (10,000+)
Mark Rogers Getting started in Little Rock, Arkansas
9 October 2016 | 7 replies
Mark,I am glad to see you are making things happen, especially in our mutual market.
James Maness Apartment Complex
15 August 2020 | 12 replies
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;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.)
Louis Mannikko Using 401(K) Loan to finance first property
7 September 2016 | 19 replies
My plan for instance consistently has nothing above a morning start 3 rated mutual fund.  
Gwendolyn Watts Broker / Investor from New York City
8 September 2016 | 8 replies
I look forward to making some mutually beneficial contacts and building long term relationships with like minded people seeking financial freedom, abundance and release from the "rat race".
Adam Sherritt Should you include price with LOI's (Letter of Intent)?
23 March 2017 | 7 replies
Getting any response is beneficial.2. 
Amiris Brown REO: how do I negotiate
27 December 2016 | 33 replies
Just as I'd prefer to blacklist them as a renter and/or as a buyer, I'm sure the feeling is mutual.
Kris Reeves Building a SFR portfolio from(almost) scratch
1 September 2016 | 14 replies
They pay $300K for a 3bed where they are and rent for $2200/mo, we pay $65K for a quality B class property and rent for $850-995 with rehab complete and management in place to make it hands off and as easy as buying a mutual fund, with far better control and performance.  
Shelby Williams Newbie From Seattle Washington
17 September 2016 | 22 replies
Account Closed would it not be beneficial to pay off the student loan faster?
John McCormack Sales Associate/Broker Relationship for Short Term Rental Manage
30 August 2016 | 1 reply
If I should ever want to leave, I can take my business with me by mutual agreement.
Sharon Segovia Are there ways in Miami to start with 10K on your first property?
8 September 2016 | 5 replies
I've been here for 10 months and while I was getting my documents, I've been attending meet ups and seminars but as I'm sure most of you have experienced, you tend to get solicited with the "gurus" offering you education for X amount of money without the security of knowing if it's beneficial to me.