Steve S.
How can I use my 401k to buy rental properties?
28 January 2017 | 20 replies
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.)
Jeremie Cortez
Prefered method of rent collectoion
15 December 2016 | 7 replies
California law requires at least one non-electronic payment option be allowed for rent payment and direct bank deposit qualifies as well.
Steve K.
Best Software for Landlords?
20 December 2016 | 6 replies
Looking for something to list property vacancies, screen renters, e-sign contracts, keep track of expenses, and collect rents/disburse payments electronically.
Steve Abitbol
NEED HELP- Legal advice on terminating tenant's lease
21 April 2020 | 1 reply
I also have very expensive furniture, electronics and art that's valued well over 100k, I do not know these older men that are constantly coming inside of my home
Ben Feder
How do you decide how to remodel to get the best use?
30 October 2019 | 10 replies
I have started using electronic deadbolts so that I can just give someone the code when they need to get in.
Sharaya Rutherford
Interview with Broker
4 March 2016 | 13 replies
We also use electronic/remote keys for lock-boxes in VA which costs $50/mo.
George Stewart
Newbie from teaneck new jersey
25 November 2014 | 13 replies
I am a electronic tech and have no experience in realestate investing but my goal is to become one.
Account Closed
Realtytrac-DefaultReasearch-opinions of services
18 September 2007 | 32 replies
The title company changes him nothing for the electronic list.
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Hello, I'm Cheryl from Las Vegas
20 July 2007 | 9 replies
We are entrepreuners -business owners in the Electronics industry as well.We have been slow and steady, but really decided on buy and hold about 5 years ago.
Jonathan Rexford
How to Pay Sellers for a Short Sale
6 June 2010 | 7 replies
In dealing with distressed homeowners, I always seem to have extra stuff lying around and I will give them appliances or electronics.