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22 February 2017 | 7 replies
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;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your own business.
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23 February 2017 | 13 replies
The one drawback of crowd funding for many people is that they are not in control/managing it.
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23 February 2017 | 14 replies
What about other expenses such as lawn care, snow removal, pest control?
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24 February 2017 | 2 replies
We want to put our work ethic to the test and control our destiny and as such our income.
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25 February 2017 | 22 replies
Or some external factor out of your control like a huge company moving in closeby could raise property values and rents, or an oil spill could really screw things up.
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24 February 2017 | 18 replies
Control everything you are responsible for until you can support somebody else.
23 February 2017 | 3 replies
Taxes, property management fees, insurance, heating (this old building uses oil heating), 10% of rent per year to maintenance, snow removal, pest control, etc add up to ~$29,000/yr.
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25 February 2017 | 16 replies
I am 100% control of my investments this way and don't have to worry about foreclosing on an NPN.
24 February 2017 | 0 replies
People act as it I control taxes and insurance and they can't afford to pay that much or at least some shining stars have done me that way.
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24 February 2017 | 0 replies
Here are the two analyses: Initial Investment Purchase Price $89,000.00 Closing Costs $2,225.00 Renovation Costs(allegedly turn key) $3,000.00 Total Investment Costs $94,225.00 Financing Costs Down Payment (%) 20.00% Down Payment ($) $17,800.00 Mortgage Balance $71,200.00 Annual Interest Rate 4.00% Loan Term (months) 360 Total Invested Capital $23,025.00 Fixed Monthly Operating Expenses P&I $339.92 Financing Charges $0.00 Administration Fees $12.50 Property Taxes $197.08 Homeowners Insurance $111.86 HOA Fees $0.00 Fixed Monthly Total Costs $661.36 Variable Monthly Operating Expenses Property Management $157.50 Advertisements/Referrals $65.63 Vacancy & Collection Losses $131.25 Capital Expenditures Replacement Fund $50.00 General Maintenance Fund $50.00 Temporary Utilities $10.00 Pest Control (Optional) $0.00 Lawn Care (Optional) $0.00 Total Variable Expenses $464.38 Total Monthly Expenses $1,125.74 Annual Operating Expenses $13,508.86 Operating Income Monthly Market Rent $1,575.00 Annual Gross Revenue $18,900.00 Monthly Profit (or Loss) $449.26 Annual Net Profit (or Loss) $5,391.14I present to you such a thorough analysis in the attempt to make sure I'm not making any glaring mistakes!