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11 June 2016 | 7 replies
Add a clause to your rental agreement that prohibits tenants from operating businesses out of the home.
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20 June 2016 | 6 replies
Since my brother wont really be looking to make a draw, as the profits will be reinvested except for a minimal distribution to me as it would be my full time job.Would co-orporate tax rates not be prohibitive until such a time that revenue is significant?
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1 January 2017 | 0 replies
Specially when I have a property under contract, which states I can list the property on MLS when the seller signs my contract, this gives me the exclusive right to purchase, hence the seller would be in breach of contract to sell to anyone else.I need a broker who can work with properties under my contract and list and sell through MLS.This is not prohibited although most brokers policy is not to list if the seller is not the owner.Yes I've done this, yes my attorney has closed transactions in this manner.My sister is an agent although in poor health so if you are an agent who's Broker will work with me we can split the commissions, also I have many sellers who are looking to sell at retail prices.Contact me as soon as posible
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10 August 2016 | 12 replies
Would love to find a mentor willing to help me out, although I believe requesting one is prohibited by the site.
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13 November 2016 | 7 replies
Also, the syndicator is prohibited from "general solicitation", which means they can't advertise their offerings or even prior track record (known as "priming" the market) via ads, emails, forum posts, etc.
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30 September 2016 | 20 replies
Any sweat equity work like repairs has to be done by a non disqualified party; therefore, you cannot do repairs on real estate owned by her IRA.The lenders listed on the following link will loan to an IRA or a solo 401k. https://www.biggerpockets.com/blogs/3441/51027-nonrecourse-loan-debt-for-self-directed-solo-401k-investment 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; andBoth 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 (self-directed 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.)
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13 October 2014 | 6 replies
Some banks sell homes and require you to agree to a clause that prohibits you from re-selling the house for 90 days).
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24 October 2014 | 9 replies
Don't forget security, late fees, early termination fee, and prohibited provisions (no smoking, no pets, no painting, etc...), also lead disclosure.
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29 October 2014 | 12 replies
(<--Are these type of questions prohibited on here?)
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19 March 2015 | 7 replies
When looking into it further the house turned out to have been previously zoned as occupancy prohibited, which I hadn't run into before.