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5 February 2016 | 4 replies
@Jillian JohnsonFollowing is some information regarding the self-directed IRA LLC.The Checkbook IRA Do’sDo open the checkbook IRA bank account in the name of the LLC, not in your personal name.Do use the LLC employer identification number (EIN) when opening the checkbook IRA bank account.Do title checkbook IRA investments in the name of the LLC, not your personal name.Do pay investment expenses associated with the checkbook IRA assets (e.g. for a real-estate property, this entails paying property taxes, property insurance and repair costs) using checkbook IRA funds not personal funds.Do deposit investment gains into the checkbook IRA bank account.Do manage the checkbook IRA but do not receive compensation for doing so.Do make IRA annual contributions to the self-directed IRA first not the checkbook IRA.The Don’tsDo not use the checkbook IRA funds for your personal use.Do not use the checkbook IRA assets (e.g., for a rental property, do not live or vacation in the property).Do not perform repairs on real-estate property owned by the checkbook IRA as you are a disqualified party.Do not deposit personal funds into the checkbook IRA bank account.Court cases that support the Checkbook IRA arrangement Swanson v.
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5 February 2016 | 9 replies
Dealer is someone who makes a living off buying properties, and must, therefore, pay an additional self-employment tax (if I understand this correctly).
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11 February 2016 | 11 replies
All of my best deals have all been introduced to me by agents/brokers and the occasional wholesaler.Also, I constantly monitor the MLS and setup alerts in different areas I am farming and make aggressive offers quickly and methodically.
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7 February 2016 | 18 replies
If I were to strip out the paid up insurance and term blending on this policy, the base commission would still only be 30% of the premium, but I reduced it further to increase cash value.This particular policy is now one year old and is expected to exceed the non-guaranteed illustrated rate I originally ran before taking out insurance on my life, due in part to the fact that I employed the banking process in the first year.
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26 March 2016 | 29 replies
I am fairly well-versed in construction methods and materials, but short on time and manpower, so-to-speak.
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18 December 2016 | 14 replies
Best advise talk to title CO explain what you want to accomplish, and have them propose a method they are comfortable with that keeps everything legal.
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7 February 2016 | 3 replies
Banks are holding stuff back and releasing it methodically to keep from flooding (and crashing) the market.
5 February 2016 | 3 replies
I am interested in using this method of investing, but how can I manage construction from another state?
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19 February 2016 | 22 replies
Its one way of Buying and Holding, and accumulating more property, but obviously not the only method.
20 February 2017 | 7 replies
(same thing, different name)I'd like to use this method, as my ultimate goal is to own multi-unit rental properties.