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6 March 2018 | 9 replies
Bryan,Here are the 3 main options to consider:1) Custodial self-directed IRA, lower upfront cost but watch out for transaction and asset based fees, have to go through custodian for every transaction, might be inconvenient for certain investments. 2) Checkbook IRA (aka Checkbook IRA), eliminate transaction fees, higher upfront cost because of special purpose LLC, but long term will provide savings and most importantly a convenience of having checkbook control over your retirement assets. 3) Truly self-directed Solo 401k, requires self-employment activity or small business, the best option if you qualify.
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6 March 2018 | 2 replies
Obviously one that has experience working with RE investors but also someone who can work with my small business (my main job - non RE related) as well as out of state businesses!
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6 March 2018 | 3 replies
If you buy a property for cash in an LLC, and you need financing, you quit claim it to the name of the person getting the loan, then quit claim it back to the LLC after.The main reason is the loan isn't in the name of the LLC, so they can't use the property to collateralize it.
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15 March 2018 | 8 replies
My main focus is cash flow and my goal is to replicate my salary within 10 years, which might be a bit aggressive.
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26 September 2018 | 25 replies
Historically, this area has had a supply demand imbalance and with the continued tech concentration, I don't see that diminishing anytime soon.
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6 March 2018 | 5 replies
Upper main roof first half replaced 8 years ago, second half replaced last year, and lower roof was replaced last month.4 Separate Crown Aruba Gas Boilers, regularly serviced and approximately 20 years old. 4 Separate Gas hot water heater (ages vary)Washer Dryer hookups available in basement for coin laundry for additional incomeExterior painted two years agoShingle sidingProperty just passed state inspectionReplacement energy efficient windowsPurchase Price: $210kAppraised Value: $285kProperty Type: Quadplex/Turnkey tenants in placeArea: BUnits: 1-3BR, 3-1BRRental Income: $3365 Per Month / $40,380 per year (rents can be raised 5% upon lease renewals)Utilities: Separately metered, each tenant pays their own gas and electricHouse Utilities: Common area utilities are about $20.00 per monthWater/Sewer: Landlord pays $1500 per yearProperty Taxes: $7855 per yearInsurance: $2500 per yearLandscaping/Snow removal: $1221.00Vacancy: ???
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14 March 2018 | 13 replies
Outside of supply /demand drivers it seems buyers are willing to pay a much higher price for homes when coming from more expensive ( home prices & taxes) northern states.
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10 August 2018 | 5 replies
For SFH not so much, as it puts the ADU and main home under rent control.
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6 March 2018 | 1 reply
Do you have a separate checking account for each property/LLC or 1 main account that all of the properties run through?
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11 March 2018 | 8 replies
The main reason I was thinking about doing this was because if I'm going to pay let's say $10,000 a year on housing, it might as well as go towards a mortgage rather than a landlord.