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22 April 2020 | 5 replies
CA requires that I lived in the property for 2 of the last 5 years to take advantage of Prop 60/90 for seniors to carry the tax basis to another property of equal or lesser value (once in a lifetime option).
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27 April 2020 | 15 replies
Hi Ethan,yes its always a good idea to have LLC (me and my partner (family member rather) registered an LLC and we are 50-50 partners. we have thumb rule - every down payment we pay equal share and every Title when we close has both of our names when closing. post closing using a QCD we transfer the property under our LLC we are at 6 units so far nationwide.cheersSachin
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27 April 2020 | 3 replies
Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged."
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11 June 2020 | 11 replies
That's a 0.3% deal (monthly rent equals 0.3% of price), which I would expect in a very high cost of living area, but certainly not where you are.
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28 April 2020 | 12 replies
Please be sure to select a Solo 401k plan provider which allows you to take a loan and will prepare the required 401k loan documents.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).There are no prepayment penalties and no restrictions on what you can do with the proceeds of the 401k loan.Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).As an alternative to taking the loan, you could even purchase the investment property directly using funds in your Solo 401k (assuming you select a Solo 401k plan provider which allows you to invest in real estate).
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22 April 2020 | 3 replies
At least in my case, it’s apples to apples on cost (savings in one area equals similar cost somewhere else).
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22 April 2020 | 2 replies
Yeah I'm not going to take the CEO of DocuSign's word for it he doesn't have any granular detail, plus transactions happening does not equal real estate not slowing down.
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24 April 2020 | 50 replies
I have partners in a few deals but it’s all equal as far as money invested.
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23 April 2020 | 3 replies
The short answer is that even if it is all legal, creating a partnership that gives you more gain than everyone else means it's not an equal partnership.
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23 April 2020 | 2 replies
If you can take the cash and reinvest into equally profitable and "easy" property, then that's when it is worth considering.