21 May 2024 | 10 replies
Their sky-high value will begin to decline at some point.End of year I am grossing $25k each unit, and netting $11k on the paid off unit after taxes, insurance, HOA fees and modest repairs.
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21 May 2024 | 1 reply
This preference for city living has fueled demand for urban condos, lofts, and apartments, driving revitalization efforts in downtown areas and contributing to the development of mixed-use communities that combine residential, retail, and commercial spaces.Emphasis on Sustainability and Energy Efficiency: Millennials are more environmentally conscious than previous generations, placing a high value on sustainability, energy efficiency, and eco-friendly features when choosing a home.
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21 May 2024 | 2 replies
Of course, it's harder to find good deals at the moment with the high interest rates.I also have partners investing in Tucson, which is another great market.
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21 May 2024 | 138 replies
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.)
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21 May 2024 | 4 replies
He didn't have time to come out for 2 weeks but said high consumption is almost always the HVAC or water heater.
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21 May 2024 | 3 replies
I would highly recommend anyone focusing on residential rental properties in this area to work with Rachel Monzello.
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21 May 2024 | 0 replies
Highly desirable as a rental with the potential to convert the vacant lot to additional STR units.
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19 May 2024 | 3 replies
Buying units where I am is often owned by older landlords that have left the rent very low. To create cashflow after rehab the rent is increased to market price and that tenant is unable to afford new rent.
I know i...
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20 May 2024 | 177 replies
One thing that has not been mentioned in this thread is GC buys properties in high quality areas.
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20 May 2024 | 12 replies
Their styles, prices and quality are unbeatable, and they have huge stock.