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3 October 2015 | 29 replies
The answer: through creation of JOINT VENTURE opportunities.When I started "opening the kimono" and get people to look inside what goes on in my real estate business, that's when I started doing joint ventures with BP members.
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3 July 2018 | 10 replies
It is possible to create a single LLC which I could manage (without collecting any compensation, since it would benefit me, a disqualified person)Shares of the LLC (which I manage pro-bono) can be purchased at the time of formation by each of the three checkbook SDIRA accounts, in which my wife and I are beneficiaries, even though they are disqualified parties from each other.I'll assume that ownership has to be inline with contribution amounts, so as not to benefit a disqualified party--i.e. 50k, 100k, 100k would result in a 20%, 40%, 40% stake.If I use only the cash belonging to the LLC to purchase buy & hold investments outright and cover related expenses, I shouldn't have to worry about UBIT and/or UDFIAnnual contributions could go into the checkbook SDIRAs, but could not be used to buy additional equity in the aforementioned LLC--It would have to go towards other investments (possibly the creation of another LLC for another venture?)
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13 November 2018 | 4 replies
Does the $2300 include all expenses (Insurance, property taxes, mortgage, HOA, etc)Search BP for OOS properties, wealth creation, appreciation etc.
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29 April 2013 | 4 replies
I don't know what the rents are in your market, but you may find it makes more sense to rent where it's cheaper and lease your new property.I'm a huge advocate of "buy and hold" for long term wealth creation, and I tell my investor clients that all the time.
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3 March 2014 | 20 replies
It is learning to recognize that opportunity and being able to do something with it that separates successful people from the masses.I didn't get this far by taking "massive action" or having a "wealth creation system" that these gurus try to convince you that you need to do/have.
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10 August 2015 | 9 replies
Lot of people use self-directed IRAs but don't realize the tax on withdrawal, Required Minimum Withdrawal rules at age 70.5 or provisional income creation that would force you to pay 85% social security income tax.Life insurance is beset with problems too. 95% of the policies are no good.
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20 May 2018 | 0 replies
For investors who own more one property, the creation of a Texas series LLC replaces the need to form separate LLC's.
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17 December 2016 | 3 replies
These self imposed limits have stalled any wealth creation.
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17 January 2020 | 3 replies
I host real estate networking events and I am trying to poll what type of professional they would like to hear at a networking event.1) Experienced Out-of-State Investor2) Experienced Local Investor3) Syndicator4) Contractor5) Attorney(specializes in LLC creation)6) Attorney(specializes in evictions)7) CPA8) Home Inspector9) Appraiser10) Cost-segregation expert11) OtherI would greatly appreciate any feedback that anyone has.
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20 August 2019 | 7 replies
I bought the property with the intention to execute a combined house hack / live-in-flip for a year (currently living in the 2/2 unit, rehabbing the 3/2 now), and then turn both into a full rental after a year, with strong equity creation through the purchase & rehab process to sell if need be.