Rohan J.
Any tips on how to get the best possible Section 8 tenant?
7 December 2016 | 22 replies
The tenants who have been on section 8 for 5+ years tend to hold their vouchers more dear than say a first time section 8 renter because they know how precious the voucher is to them.
Damien Stowers
Rehab Team In Augusta GA
13 May 2019 | 2 replies
I am planning in putting a team together in Augusta, Ga.
Joel Gierbolini
Bank loan on a 75k property or less, is it possible?
17 July 2019 | 93 replies
Queensborough National Bank and Trust in Augusta, GA does not have a minimum loan amount.
Betsey Davis
Large Mix Multifamily Package Deal
7 March 2017 | 2 replies
53 Buildings on 49 parcels in Historic Augusta.
Curtis Steinman
Flipping in a Self Directed IRA
27 January 2018 | 12 replies
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 2017, the solo 401k contribution limit is $54,000, 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.)
Randy Smith
Why I Switched To Passive Investing Versus Active Investing
30 January 2023 | 22 replies
There is a reason for specialization of labor and time is precious.
Account Closed
Realtors getting mad for asking them to do their job
30 December 2018 | 88 replies
The investors are wasting their precious time and/or not respecting the advice from the agent.In addition to the above, there were countless investors looking to enlist agents for duties suited to an assistant or receptionist.
John Moorhouse
Dropping out of High School.
22 January 2020 | 210 replies
I felt like I was wasting precious time, sitting in class when I could be out learning about life and making money.
John Burtle
Making offers on houses but the real estate agent isn't happy
3 January 2019 | 226 replies
People here have a misunderstanding about offers being required to be presented.If I am the agent for the owner of the home, and I get an offer from a party wishing to purchase the house, I am obligated by law to present this offer to my client who is the owner of the home.I am under no obligation however, to spend my precious time writing up offers on behalf of a client who is looking to buy a house if I don't feel that the offer is worthy.
Sophia Brown
Analysis Paralysis
6 September 2014 | 7 replies
But I need to make sure before I use my time (a very precious resource) or money.