Account Closed
Insurance Clause in a Lease
20 July 2019 | 9 replies
RENTER'S INSURANCE Tenant's personal items, including furniture, jewelry, clothing, etc. are not insured by Landlord's insurance company.
Troy Sordin
What to Say to Sellers
25 July 2018 | 0 replies
However, if you let the call go unanswered, you have just wasted your precious marketing dollars!
Jesse Kindra
Self Directed IRA or Solo 401k
25 June 2016 | 44 replies
@Jesse KindraThe following IRS website is a good resource for self-employment requirements. https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-centerFollowing 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); and 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 2015; 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.)
Kelly Niddrie
Investor friendly agents
6 October 2015 | 8 replies
In this world time is a precious commodity so you have to be laser focused on what you want and what you do not.If you are a brand new investor trying a way out there approach with limited money then likely a brand new agent with nothing going on to submit crazy offers or strategies will be the only one to bite.Seasoned brokers/agents are busy with seasoned investors who are active in the market.If you have no cash, no experience, etc. then a broker/agent in demand isn't going to spend time on that.
John Stevenson
10 WAYS TO BUY AN INVESTMENT PROPERTY WITH NO MONEY DOWN
22 July 2020 | 169 replies
This could include land, a car, a boat, jewelry or valuable collectibles.
Peter Tverdov
Anyone else feel like the forums are losing value?
5 November 2021 | 144 replies
That's at an all-time low now, or at least since I started lurking back in 2017.I recently got hit with an avalanche of friend requests from people who think handymen find anything but fake jewelry and porn in teardowns.
Thomas Homan
Marketing for Listings, I want to be a Rock Star!!
12 September 2013 | 12 replies
The most precious resource for very productive people is time.
Andrew S.
Anyone start late in life?
23 October 2013 | 34 replies
Originally posted by Steve Smith: Andrew Started out at age 65 now 70something I heard but will always rememberTime is your most precious asset, it should never be Wasted or abused.Yesterday is gone, there is no guarantee that we get tomorrow.All we have is today.
Corey Dutton
The 5 Most Common Questions About Hard Money Loans
7 August 2018 | 34 replies
- Although most hard money lenders only use real property as collateral (real estate), there are some hard money lenders who will use jewelry, recreational vehicles, and other types of collateral to make a loan.
Scott W.
Can BP get RobK to agree to a podcast?
15 June 2013 | 23 replies
Her Halloween costume was precious.