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19 April 2019 | 2 replies
@Andy BaumanSuch quid pro quo transaction would be considered prohibited, it will provide you with indirect personal benefit from your IRA.
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24 March 2023 | 0 replies
this is clause was included with agreement for a loan:The Borrower is required to pay a refundable fee $2,600 for the loan acquisition cost whichinvolves all direct and indirect expenses incurred before funds disbursement will commence throughwire transfer.is this normal?
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23 March 2023 | 4 replies
IRS rules prohibited any direct or indirect transaction between a self-directed IRA and a disqualified person, therefore it is not possible to use an IRA in connection with your personal LLC.You can establish a self-directed IRA, but you will not be able to combine your 401k with your Roth IRA (unless your 401k is a Roth or you are willing to do a Roth conversion).
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27 June 2019 | 6 replies
If the sponsor can't pay bills at the office, then that will inevitably effect your returns, indirectly.
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22 September 2021 | 1 reply
Keep a copy on hand, for future bank/legal transactions.OPERATING AGREEMENTOFTestStorage, LLCTable of ContentsPageArticle I ‑ Definitions1Article II ‑ Structureof the Limited Liability Company 3Article III ‑ Businessof the Limited Liability Company 4Article IV‑ CapitalContributions 4Article V ‑ Allocationsand Distributions 4Article VI ‑ Managementof the Limited Liability Company 7Article VII ‑ Transferof Membership Interests 12Article VIII ‑Amendments, Voting and Meetings 13Article IX ‑Resignation, Removal of the Manager 15Article X ‑ Records;Financial and Tax Reporting 15Article XI ‑ FiscalAffairs 15Article XII ‑Termination and Dissolution 16Article XIII ‑Miscellaneous 17OPERATING AGREEMENT AMONGTHE MEMBERSOFTestStorage, LLC, ARTICLE IDEFINITIONSAs used in this Agreement,the following terms shall have the following meanings:1.01 - "Act" shallmean the Iowa Limited Liability Company Act, as amended from time totime.1.02 - "Affiliate"shall mean, in the case of any Person (the "Specified Person"),any other Person (a) that directly, or indirectly through one or moreintermediaries, controls, is controlled by or is under common controlwith the Specified Person, or (b) that owns or controls 10% or moreof the outstanding voting securities of the Specified Person, or (c)that is an officer, director, employee or agent of, partner in, ortrustee of, or serves in a similar capacity with respect to, theSpecified Person or an Affiliate of the Specified Person or (d) ofwhich the Specified Person is an officer, director, employee, agent,partner or trustee, or serves in a similar capacity.1.03 - "Agreement"shall mean this Operating Agreement, as originally executed or asamended, modified, supplemented or restated from time to time.1.04 - "Capital AccountBalance" shall have the meaning set forth in Section 5.01.1.05 - "CapitalContribution" shall mean in the case of any Member as of anydate of determination, the aggregate amount of cash, property, orservices rendered, or a promissory note or other binding obligationto contribute cash or property or perform services that such Membershall have contributed to the Limited Liability Company on or priorto such date and a Member's share of any of the Limited LiabilityCompany's liabilities as determined in accordance with the Code andTreasury Regulations (or, if such Member is not the original holderof the Interest of such Member, the Capital Contribution with respectto the Interest of such Member held by the original holder of suchInterest).
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29 November 2022 | 25 replies
Simply because to invest in CRE, it's way easier to invest via indirect investment.
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15 February 2023 | 5 replies
@Dan KennersonYour question is not entirely clear.An IRA can lend.There is one IRS restriction, which is that the loan cannot be to, or somehow provide any kind of direct or indirect benefit to a "disqualified person".
20 February 2023 | 2 replies
I would focus on separating your direct vs. indirect expenses for the house hack.
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31 March 2023 | 9 replies
I wonder if they were a secondary/indirect lender?