Jason Schlieger
(WA) Landlord charging for their labor
27 April 2021 | 13 replies
Essentially it ends at LL responsibility to "make repairs and arrangements necessary to put and keep the premises in as good condition as it by law or rental agreement should have been, at the commencement of the tenancy".
Lynn Tran
Closing 7/21 HELP: Year-to-Year to Month-to-Month?
7 July 2022 | 1 reply
The term of the Lease is a periodic tenancy commencing at 12:00 noon on July 1, 2020 and continuing on a year-to-year basis until the Landlord or the Tenant terminates the tenancy.”I’m wanting to increasing rent by $200/mo for Unit A and I requested a credit towards closing from the seller to offset the loss of income.
Finn Valjean III
Know when to hold em, know when to fold em?
22 October 2020 | 4 replies
After that you should have a period of time when discovery commences but seldom does anyone make big moves.
Charles M.
Tenant Refusing to Leave
6 June 2020 | 34 replies
- Notice to Quit - Can't attach because there is too much private information.To ___ And all individuals (tenants, occupants, and subtenants) in possession of the PremisesThe Premises herein referred to in this official notice to quit is located at redacted with a lease agreement commencing on May 26 2020 between redacted.
Jarret Durst
House Has Asbestos Siding
10 April 2023 | 9 replies
Do your due diligence before commencing.
Royce J.
Funding Self-Directed IRA with Stock Options
27 February 2016 | 4 replies
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); andNeither may be invested in your own Retirement funds business startup.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 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.)
Sarah Sparks
Using 401K for downpayment
21 May 2020 | 7 replies
Please note that per the multiple loan rules, the amount of the loan must be reduced by the highest outstanding balance of any other 401k participant loan over the prior 12 months (regardless of whether such other loan is currently outstanding).Monthly or Quarterly Payments: The loan must be paid back in equal monthly or quarterly payments of principal and interest.Interest Rate: The interest rate is equal to prime plus 1% (or CD rate plus 2%) and is a fixed rate that is set at the time that the loan is taken.Term of the Loan: Five-year term unless the proceeds of the loan are used to purchase a primary residence in which case the term of the loan may be up to 30 years.First Payment:For monthly payments, the first payment that would otherwise be due is delayed until January 2021 (e.g. if the first monthly payment would have been due on May 15, 2020, it will be due on January 15, 2021).For quarterly payments, the first payment that would otherwise be due is delayed until the first quarter of 2021 (e.g. if the first quarterly payment would have been due on May 15, 2020, it will be due on February 15, 2021).EXISTING LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.If you meet the above conditions:You may delay making any 401k loan payments due between 3/27/2020 and 12/31/2020.You must commence making loan payments in January 2021 (or the first quarter of 2021 if your loan payments are due on a quarterly basis).If you elect to delay making such loan payments, the term of your loan will be appropriately extended.
Mtgtme Mtgtme
The plight of investing with Patch Of Land -What can I do as an investor
2 April 2023 | 10 replies
Investor hereby irrevocably covenants not to, directly or indirectly, assert any claim or demand, or commence, institute, or voluntarily aid in any way, or cause to be commenced or instituted, any claim, action, suit, proceeding, demand, threat or allegation of any kind against any Releasee based upon or relating to any Released Liability.Investor hereby acknowledges and agrees that (i) the Payment Amount represents the full and complete payment for all of Investor’s and its transferees’ and assignees’ rights with respect to the Purchased Assets and the Payment Amount is less than the outstanding principal balance of, accrued interest on and other amounts owed with respect to, the Purchased Notes, (ii) upon execution of this Agreement and payment of the Payment Amount, Investor shall have no further rights in, to or under any of the Purchased Assets and Investor shall no longer hold any interest, or have any rights under or with respect to, the Purchased Notes or the other Purchased Assets, (iii) Investor shall no longer have access to its account on any investor portal used for the Crowd Platform, (iv) in the event that Investor receives any payments (x) from the Crowd Platform arising from the Purchased Notes, (y) in excess of the Payment Amount, or (z) for which Investor is otherwise not entitled to receive under the terms of this Agreement, Investor shall repay such amounts to Legacy POL immediately upon receipt thereof, and Legacy POL will have the right to pursue such repayment to the fullest extent of the law, (v) Legacy POL shall provide Investor with a Form 1099 (if required by applicable law) and/or a principal loss document in 2022, which shall be sent by email to [____] with a backup copy to [_____________], and (vi) Investor shall promptly furnish to Legacy POL any additional information as Legacy POL may request from time to time for the purpose of satisfying any tax or other reporting obligations of Legacy POL or POL SPV with respect to the Purchased Notes and this Agreement.Confidentiality.
David Dachtera
Joliet Area REIA
1 January 2021 | 79 replies
Hi DavidI will be interested in attending the meetings in Joliet if they have commenced provided it works for me in terms of the timing.
David Gregory
International Investor Success Stories
8 December 2021 | 56 replies
Hi Simon,I currently own a Note which is doing fine and have invested in providing funding for another investor for renovation, which is turning out to be a negative experience, as it is 3 months overdue for payment and commencing legal action.