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Results (5,850+)
Darrell Flannery Retirement
24 July 2021 | 7 replies
I love what I do, but honestly... while I know how to use all kinds of tools to do just about anything from Electrical to Plumbing to Metal Fabrication or whatever, I have obviously not learned to use some of the most impotant tools in how to make my money work best for me.  
Martha Chavarria Self-Direct Solo 401 (k)
1 April 2022 | 56 replies
Retirement plans are not limited to investing in financial products, and can invest in real estate, private mortgages, stock of privately held companies, precious metals and a whole lot more.So, you can "invest in what you know", but not "into yourself".The way folks get benefit from their self-directed IRA is by networking and finding opportunities that present a good mix of security and return on investment.  
Jon S. Blinds?
3 July 2020 | 34 replies
The metal ones the slats get bent and the crease never goes away so those are right out.  
Account Closed I am not self-employed but want a Self-Directed 401(k) - ??
13 December 2017 | 29 replies
The key is that material services are performed, whether under an LLC, sole proprietorship or corporation, for example. https://www.irs.gov/businesses/small-businesses-se...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).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 (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.)
Alec McGinn Would you ever buy a property without an inspection?
20 June 2018 | 93 replies
We are familiar with how to do most work ourselves but never knew the wiring entering the house couldn't be coiled the way it was.
Daniel A Lee Kim Bought a SFH, sellers temporarily fixed issues to sell, now what?
19 June 2018 | 6 replies
Seller hired a technician, and he supposedly replaced the filter, charged freon, cleaned outside condenser coil, and "serviced" the HVAC unit.   
Jim Goebel How many have been burned when paying a Contractor 50% upfront?
26 November 2022 | 35 replies
Most recent was someone cut the large gauge wire coils draped in basement. 
Jean-Thierry Aleman Equity Line of Credit
7 November 2018 | 18 replies
This would activate the "dead equity" in your home.Lastly, I would recommend having liquidity (rainy day cash, paper assets, precious metals, etc depending on your personal preferences) elsewhere.I'm "all in" on real estate and because of that I keep a healthy amount of cash on sidelines. 
James Nelson Schlage encode stopped working, guest locked out temporarily
6 September 2023 | 15 replies
Years ago, in NYC, I used to hide a key in a magnetic key box outside attached to the underside of metal stairs. 
Jordan Decuir How do you hold & protect physical gold?
23 March 2021 | 52 replies
Buildings for income, precious metals for liquidity and SHTF insurance