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Results (10,000+)
Matt Liu Credit Partners... The Key to Wealth??
18 January 2014 | 13 replies
Actually I think many individuals approaching retirement these days would be happy to put up half the down payment and use all their own debt and take title .
Robert Pickles Feedback on MidAtlantic IRA
22 September 2018 | 15 replies
@Kim BlattYou may want to look into a self-directed solo 401k plan if you are looking for ultimate control over your retirement funds.Following are the similarities and differences between the solo 401k and the self-directed IRA.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).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 2016, 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.)
Lisa Monroe Wholesaling By Quit Claim
21 September 2012 | 4 replies
B) The contract starts with more than one individual and then an addendum and or amendment (an addendum is provided by either agent and an amendment is provided by the escrow or title company) to remove one or more parties is signed by the seller/bank and buyers/buyer (once the contract is accepted).
Bill Gulley THE 47%
24 September 2012 | 10 replies
R&R do not really represent or promote the best interests of the individual voter in that 47% or even most in the country.
Rob K. Big changes to Section 8?
25 September 2012 | 28 replies
The Housing Choice Voucher Program, formerly known as Section 8, assists low-income individuals and families with a rental subsidy.
Matt Liu Partnership Agreement - Who Can Decide When To Sell?
26 September 2012 | 11 replies
Whether it is fair or not depends on the individual conducting the appraisal as well as the data or comps it is based on.
Chris McCoy New here from Richmond, VA
12 June 2013 | 4 replies
Whether there is a market for farming this out to another individual is something you will have to determine based on the marketing of your skills.
Corey Dutton Would You Lend to a “Bank Slayer?”
25 September 2012 | 2 replies
Although many of these law firms and loan modification companies have failed miserably in their attempt to “slay the banks,” many of them have been very successful in collecting upfront fees from borrowers facing foreclosure.We recently were approached by an individual who is seeking a hard money loan to buy an investment property.
Mike Nelson If RE Agent contacts me with buyer
2 October 2012 | 38 replies
That is the unauthorized practice of law.An individual, acting on their on behalf, can do whatever they want.
Jason T. Invest in Debt...great read, I want more
27 April 2015 | 47 replies
But the Act introduced material changes to the state foreclosure laws which may impact an individual note holder's ability to proceed with foreclosure on a defaulted note.