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13 April 2015 | 5 replies
The same applies with exit costs; with no taxes or levies, your net profit is not reduced by the act of selling.I would love to commence a discussion involving people who have invested in markets with high entry and exit costs (US/Australia) and also in markets with low costs.
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6 October 2016 | 6 replies
Of course, you have to pay taxes once distributions commence from the IRA ; however, the hope is that once you start taking IRA distributions, you will be in a lower tax bracket since distributions from IRAs are tax ordinary income tax rates.
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8 October 2016 | 5 replies
@Tessa Rysztak The waiting period commences on the completion, discharge, or dismissal date (as applicable) of the derogatory credit event and ends on the disbursement date of the new loan for manually underwritten loans.https://www.fanniemae.com/content/guide/selling/b3...Someone more familiar with how things work in Colorado would have to comment on whether they will use April or October as your foreclosure date.
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2 June 2016 | 9 replies
Following is why: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); andThe 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.)
28 June 2017 | 5 replies
You can check with the town and ask hypothetically, but I would venture to say that the closing will not commence.
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11 June 2019 | 9 replies
Ensure the lease has some language that says these terms will survive the completion of this lease on a month to month basis unless a new lease agreement is commenced.
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18 June 2019 | 1 reply
The administration process has already commenced.
3 July 2019 | 9 replies
Pay half of rent for July to hold it and pay full months rent starting August 1st at move in.And of course the 3rd option was then to give me notice that they weren’t moving in and I’d have to keep the security deposit because they didn’t honor the contact and didn’t give me 30 days notice.They didn’t like the first 2 options and on June 23rd demanded their security deposit back stating that the lease doesn’t commence until July 1st (their move in date) so they are entitled to the security deposit back.
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13 July 2019 | 16 replies
This is commencement of the foreclosure process- use an amortization table to this point, minus one year or more, to determine approx loan balance (UPB) - assume payments have not been made on the 1st since then- use the interest rate on the note and apply to the UPB til today's date to determine interest arrears owing - assume property taxes haven't been paid by borrower and advanced by lender since default, this gets added to balance- add in approx insurance coverage that the lender may have advanced (Forced Place Insurance), to this balance- legal fees are the big unknown (and not sure they are recoverable in HI), but if there are a lot of filings then can assume fairly hefty amount, say $10K+.
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18 July 2019 | 35 replies
Certificates of Insurance:Trade Contractor shall furnish certificates of Insurance and applicable endorsements to Contractor before Trade Contractor commences any work.