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15 August 2024 | 21 replies
None of this speaks well for owning property in an IRA.While trying to find related examples, I found another argument I would have certainly lost regarding accounting for a checkbook controlled IRA LLC: “Providing un-tracked accounting services for your own IRA LLC can result in a both an excess contribution and a prohibited transaction.”http://www.prweb.com/releases/2011/02/prweb4300264.htmAccording to the article, “Although there are some exemptions for services provided to a retirement investment plan, they do not extend to services provided to entities owned by the plan.”I guess you guys are right.
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15 August 2024 | 29 replies
Business lines of credit in my experience will often be high doc, so you need to have your articles of organization, the EIN number from the IRS, any other mbr/managers may have to be signatory to the debt (vs non-PG), and depending on the bank, they often want to see business tax returns.
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13 August 2024 | 5 replies
Thanks Check out this article on BP published on this exact topic - the "5-10 Unit Multifamily Niche" has some very specific financing options - including, the Multifamily "DSCR Loans" that @Brian Cauldwell mentioned - these look like SFR loans (no tax returns, 30-year fixed, Rent/PITIA to calc DSCR etc.) but are for slightly bigger propertieshttps://www.biggerpockets.com/blog/multifamily-dscr-loans
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14 August 2024 | 19 replies
@Jason Coleman Here's an article with additional FAQs on cost segregation studies that you may find helpful.
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13 August 2024 | 11 replies
I have begun reading books and articles trying to educate myself before I start this journey.
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14 August 2024 | 11 replies
Hi Joey, house hacking is what I did here in Columbus, Ohio when I started investing in 2020.Here is an article with more information on what a house hack is - https://www.rocketmortgage.com/learn/house-hackingLet me know how I can help!
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13 August 2024 | 4 replies
I've spent hours reading books, articles, and listening to podcasts about real-estate investing.
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12 August 2024 | 0 replies
For years I've read countless opinions and articles about "good cause eviction," quietly dreading that it would eventually be the law in NY.
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12 August 2024 | 19 replies
Any investor looks for places which have a bright future, not one's where their downtown is closed due to crumbling and unsafe buildings.https://www.wkbn.com/news/local-news/gas-explosion-in-youngs...https://www.economist.com/united-states/2022/03/12/what-buck...https://ysu.edu/center-working-class-studies/renaissance-who...https://www.propublica.org/article/these-companies-got-milli...As Bones would say, it's dead Jim.
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13 August 2024 | 3 replies
Depending on which article you read, there is between $26B and $30B under construction.In ConclusionWhile nothing is guaranteed, the combination of population growth and limited land for expansion virtually assures that prices and rents will continue to increase.Thanks for reading my post.