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4 June 2020 | 0 replies
How do you plan on acquiring capital as bank lenders tighten up?
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11 June 2020 | 8 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.
9 June 2020 | 6 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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6 June 2020 | 5 replies
I've been doing that for years now, and just acquiring one or two places per year.
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6 June 2020 | 3 replies
I'm looking at acquiring my first rental property and I'm having a tough time assessing the proper expense ratio.
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16 June 2020 | 19 replies
Just acquired a very underperforming self-storage facility in Los Angeles area.
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9 June 2020 | 22 replies
The fact that you were able to utilize a mortgage to acquire this in the first place tells me it wasn't really that distressed.
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10 June 2020 | 79 replies
Even free & clear we find that opportunities abound if you're NOT afraid of acquiring some strategic debt.
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7 June 2020 | 4 replies
(I ask this one as I see a lot of recommendations of utilizing an attorney to acquire foreclosed homes, but absolutely no idea what type of attorney, how to integrate them with a broker, etc.).5) Any other information that is important that I may have skipped over here.I completely get the general concepts, but so far, all the books I have read and websites/videos I have researched are just a bunch of hype.
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10 June 2020 | 7 replies
Here is the story.I recently acquired a small storage facility (34 units) in Carson, WA (40 mins from Portland).