
10 August 2017 | 7 replies
Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth 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; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).In 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 (checkbook IRA);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.)

12 August 2017 | 6 replies
Do any NC Wholesalers have electronic documents they use for deals they would be willing share with me?

13 August 2017 | 5 replies
Come to find out it appears the mortgage company that had the lien went out of business and somehow the electronic mortgage system issued a release of lien on the property, making it free and clear of any mortgage debt.

12 August 2017 | 2 replies
@George Smith I do not do any physical filing of our flips, all electronic, but if you are , you should add to your already good list:- Leads- Insurance- A folder for each actual flip- Landscapers- Lenders- Wholesalers/AgentsAll the best!

3 September 2017 | 16 replies
In talks with others, I have also realized that he is implementing "actions without meeting" (or something to the effect) by only waiting for a majority to vote yes on things when he requests votes over email (and our bylaws do not allow for meetings to be conducted electronically).I also have been in touch with our management company's rep for us, and she 1) said that we need every homeowner to agree (without citing anything, whereas I cited GA Code to her) and that 2) she didn't understand why an HOA of SFHs would want to invest their money because "whereas condo associations typically have roofs to replace, pavement to replace, etc, whereas your HOA only has amentities".

15 December 2021 | 26 replies
I get paid by the company electronically and they manage the people in the house.

23 August 2017 | 8 replies
For electronic payments, cozy is good, or you could have them use the billpay feature at their bank to have a check sent to your bank.

21 August 2017 | 10 replies
The ease associated with electronic communication is placing landlords at a much higher risk of being misled and taken advantage of by unscrupulous individuals.

20 September 2017 | 16 replies
Lets me know when the draft is made and when it will hit the account.It incentivizes electronic payment for the tenant by making it easy and allowing it to be reported to a credit agency.It incentivizes electronic payment for the landlord by doing it for free.It throws my nice ad up on realtor.com and doorsteps and allows for online application.It listens to its users- go back through old threads and look at some of the gripes ("I can't tell who is paying the rent when it hits my account.") and you will see them actively addressing each issue.It does a lot more: credit check, rent analysis, express pay, simplified renters insurance.I give them my background checks as a small thank you.

15 July 2017 | 16 replies
Keep in mind there are hoops to jump through, and you need to keep your documents organized and preferably electronic so you can provide them AGAIN when they ask for something a 3rd time, but the extra little bit of aggravation can easily be mitigated by being organized and it is ABSOLUTELY worth the savings.