Will Stanton
Commercial Real Estate License
3 August 2018 | 8 replies
Then 3 to 4 people on the team would split the 50k.The split is generally based on experience level and tenure so Senior Director, Director, Junior Director,etc.Senior member out of 50k might get 25k, Director 17k, Junior 8k.So as an example with my 15 years in the business I own my company so the 100k would all go to me as no teams or split because I am the brokerage.So that Senior director has to do 4 deals to equal what I make, the director has to do about 6 deals to my 1, junior has to do about 12 deals to my 1.
Mack Keyvani
New member in Los Angeles
1 August 2018 | 1 reply
I work in a telecom startup as a director of product.
Grant Schulte
New from New York City
7 September 2018 | 10 replies
Greetings,My name is Grant—I'm a Software Engineer, Programming Director, and Startup Advisor based in NYC.
Account Closed
How can I best partner with my SDIRA?
14 August 2018 | 8 replies
Account ClosedSeconding the concept of "just don't go there".IRS rules are strict about avoiding any direct or indirect transactions of provision of benefit between and IRA and a disqualified party, in either direction.You and any LLC you own are disqualified to your IRA.The IRA may not lend to you or any entity owned by you or a disqualified party.The penalties for engaging an a prohibited transaction are severe, and not worth messing with.
Bruce Harding
Confused on Using a 401K
20 September 2018 | 8 replies
They might even call it "self-directed" which means that you can direct or pick the investments but only within their boundaries of investment options.
Greg Wright
Working on IRA property
17 August 2018 | 19 replies
@Greg WrightHaving a property owned partially by your IRA and partially by a LLC you own personally is a whole set of problems on its own and not something generally recommended.Even if that were the case, no, you could not do what you propose.There may be no direct or indirect benefit between an IRA and a disqualified party, in either direction.
Benjamin Riehle
Are You Influencing the People Around You?
16 August 2019 | 13 replies
Here is his deal breakdown:Purchase Price: $230,000Down Payment 5%: $11,500Mortgage Payment: $1,608Rent: $1000, $800, $600 (Will be occupying the $600 unit)Cash Flow: $192Richard, our transaction coordinator, and my brother, Nick, our director of operations, partnered up and purchased a five-bedroom, three bath house in Tucson 7 months ago.
Brianna H.
Tenant Moving Out MidLease
12 July 2018 | 0 replies
He also said he left a table and chair that he doesn't plan on claiming.
Dean I.
24k Profit on Flip #3 and #4
13 July 2018 | 2 replies
What was done:Painted inside and outPainted roofReplaced flooring with new laminate, tile in baths and carpet in rooms.Replaced the tub, vanity and lighting in the master bath and tiled the shower and floors.Replaced the vanity and lighting in the guest bath and tiled the floorsPainted and repaired cabinets and installed granite counters and subway tile backsplash.Moved master closet door from the inside of the room to the bathroomRemoved original closet door in hallway and moved it to the master bedroom so that the master had a "his and hers" closet.One of the smaller rooms had a cubby hole next to the closet so you could fit a small desk and chair.
Ken Neusaenger
Investing in raw land that is under ag exemption in texas
20 July 2018 | 2 replies
@Ken NeusaengerYour strategy has several issues with respect to IRS guidelines.In exchange for tax-sheltered status in an IRA, the IRS rules prohibit any direct or indirect benefit, in either direction, between you and the IRA.Simply from the starting point of you buying a parcel personally and having the IRA buy the rest, you have introduced risk.Any services associated with the property must be performed by an unrelated 3rd party.