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13 March 2020 | 3 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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17 May 2020 | 10 replies
I was doing the online real estate investing bootcamp with Rod K a couple weekends ago and he suggested pulling the entire value of the line and depositing it in another bank so the bank can’t claw back the money at anytime.
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13 March 2020 | 3 replies
Now lets say I cash out refi and take out a new loan for $100k and just deposit the $25k minus closing costs into a bank account.
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16 March 2020 | 3 replies
I inquired about a loan and unfortunately long story short I got burned lost all communication and can not get my deposit back.
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13 March 2020 | 3 replies
Considering that we do not have a physical office at the moment, how would one go about obtaining a key deposit, or is it a better idea to not ask for one?
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13 March 2020 | 6 replies
Im thinking of refinancing that and depositing the proceeds in a business account and using ot for a down payment on the first property purchased under an LLC
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13 March 2020 | 3 replies
I've been charging ~$250 per pet refundable deposit, but am starting to wonder if I should do a non-refundable fee instead, or even pet rent.
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1 April 2020 | 2 replies
Just wondering if investing investing in vehicles like Fundrise / diversyfund, etc is worth it at all for minimum capital deposits?
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14 April 2020 | 63 replies
One tenant of 2 years is paying half and I am applying the rest from her (2 months) security deposit until she gets back on her feet.
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13 March 2020 | 0 replies
The deposit is $500.00 and the rent is $700.00 What made you interested in investing in this type of deal?