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27 January 2025 | 18 replies
Keep in mind that the sponsors with the longer track records and deeper bench of investors are unlikely to use some of the newer exemptions.
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16 February 2025 | 27 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.
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24 January 2025 | 16 replies
@Greg Parker This is a good thing to keep in mind.
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17 January 2025 | 4 replies
Hello BP community,It's nice to see so many discussions from like minded people!
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15 January 2025 | 2 replies
I suggest you start out by meeting like minded people and here is a link to a local meetup in the OC: https://www.biggerpockets.com/forums/521/topics/1225233-ocre...Good Investing...
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20 January 2025 | 7 replies
Hey Matt, As a solo-shop, I use the following to stay on top of my client's minds and files: 1.
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20 January 2025 | 3 replies
A self-directed IRA could be a good way to defer taxes, but there are some rules to keep in mind—like keeping all the income in the IRA until retirement.
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16 January 2025 | 8 replies
Does anyone have any contacts they wouldnt mind sharing that can add me to their buyers list?
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17 January 2025 | 4 replies
I had 2 or 3 called.Now again keep in mind I had zero interest in holding these as rentals and I ONLY bought homes that had significant equity for me.. mainly all pre foreclosures..
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5 February 2025 | 29 replies
Keep in mind though along with rehab the turnkey operator is paying all the holding costs generally most if not all turnkey companies use HML loans for their inventory ( thats my Job) and paying taxs insurance utls etc.. so you need to add 10 to 15 on top of the all in for holding costs..