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7 October 2016 | 20 replies
I'm concerned about the high prices, unless your company offers a way for me as an individual investor to pool with other investors to earn a decent rate of return.
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26 October 2016 | 10 replies
I totally get that individually it can be very wrong to estimate.
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4 October 2016 | 17 replies
@Waylon GatesFollowing 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 (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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4 October 2016 | 4 replies
When you wholesale a deal, it means your intent is to sell to a cash buyer, even if that may be an individual looking to live there themselves.
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3 November 2016 | 3 replies
None of the companies I've looked at offer any financial benefit to managing two properties.
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4 October 2016 | 21 replies
I've had situations where I've hired guys and they've either had financial issues or health issues that delayed my jobs.
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26 February 2017 | 19 replies
I think the coastal purchases are more financially risky, but less hassle overall.
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1 October 2016 | 1 reply
hello BP familyMy name is Stefan Chirila and moved in California from Romania in 2011. happy to be here and finally taking my first action and come on board.I am 32 years old, did sport at the highest level all my life, I am married and Civil Engineer, when I moved in US I started working as a labor for a small construction company(didn't have rights, and not shame about that), throughout time I learned the language and got my rights and equivalent my degrees and eventually started to work in construction management as an assistant Superintendent for a very big GC, everything is good happy with my job with my growth in US in a very short time, but always had in me the filling that I can do more then just working hard and make money for someone else, always dream about financial freedom, never actually took actions in that direction.
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1 October 2016 | 2 replies
However I would like to find someone to be a financial partner and I will do all the work.
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4 October 2016 | 6 replies
Make it look like you’re an individual, not some fancy company.