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3 June 2020 | 60 replies
That is a strategy that must be employed with a great plan in order to forecast a greater outcome than investing through your retirement account; however, I will say that borrowing from your 401(k) to reinvest does seem like a prudent strategy for a sophisticated investor.
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27 May 2020 | 7 replies
The EIDL might be used for payroll expenses or maintenance expenses, especially if rents collapse after unemployment runs out.If you do accept the EIDL, I’m concerned that (outside of this loan), it may be difficult or impossible to obtain financing while there is a UCC lien on your business.Let me know what else you find out.
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25 May 2020 | 5 replies
Long-term hold LOs and SLOs principals stay in natural persons name, acting above board, sans 'sophistication'.Lender's and title don't like anonymity, what they don't understand or lots of moving parts plain and simple.
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28 May 2020 | 3 replies
So, if after deducting all flipping-related expenses, including marketing, driving and everything else, you expect to make more than $50k in the remainder of 2020, then consider forming an LLC and elect it taxed as an S-corp and start a formal W2 payroll for yourself, with tax withholdings etc.
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5 June 2020 | 19 replies
Assuming the plan document permits it, you can then perform an in-plan conversion, converting the funds to the Roth component of the plan. 2) Back to your specific case, sounds like you have a Roth IRA, so therefore makes more sense to simply establish a self-directed Roth IRA with a custodian that permits real estate holdings. 3) If you eventually claim active earned income through your business (income you pay income taxes on and payroll taxes - Medicare and Social Security) then you can look into a solo 401k at that time.
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28 May 2020 | 3 replies
I also have a couple of sophisticated clients that have proprietary data sources.
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4 June 2020 | 1 reply
Get a contractor or get a team of subs in our payroll...It always takes longer than you anticipated.Try to purchase from a Wholesaler next time.
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7 June 2020 | 1 reply
Get a contractor or get a team of subs in our payroll...It always takes longer than you anticipated.Try to purchase from a Wholesaler next time.
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22 July 2021 | 20 replies
Sophisticated investors invest on cashflow where the rents exceed the mortgage plus expenses (and enough money to pay for professional property manage to do our dirty work).Sophisticated investors look at the Rent-to-Value Ratio and look for at least 1% or more to be able to cashflow after expenses.
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8 August 2020 | 9 replies
That's because in addition to the $x per hour they're paying their worker, they also have to pay federal, state, local, SSI and medicare payroll costs.