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16 March 2016 | 18 replies
Something that helped me clarify what I should do with the property was learning how to run a projected IRR or MIRR (Internal Rate of Return or Modified IRR) for various holding periods to figure out when my best exit year is likely to be.
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8 June 2016 | 34 replies
The latter book gave me approx. 3 pages of short notes and tips covering all of the page; information that I'll want to make sure I internalize and make sure I put to good use.
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25 June 2017 | 5 replies
I work with quite a few international investors.
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28 January 2016 | 12 replies
It would qualify under Section 121 of the Internal Revenue Code (i.e., the 121 Exclusion) as long as you can say that you have lived in the house as your primary residence for at least 24 months out of the last 60 months.
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2 June 2016 | 12 replies
@Tom Hertz The following compares the solo 401(k) and the IRAThe 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); andThe 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 2015; 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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2 February 2016 | 1 reply
I would love to find a mentor and/ or maybe do sum interning.
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27 April 2016 | 6 replies
So I hopped on the interwebs, found my County Clerk website (Wayne Couny, NY - not too far from Rochester, NY) found their electronic database, and had so much trouble navigating it that I just emailed the county clerk for help in finding records of evictions.
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28 January 2016 | 1 reply
Kinda like interning or shadowing, ideally to help really get the hang of it without making a ton of costly errors.
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29 January 2016 | 4 replies
If you are using closed/open cell spray foam, you need to make certain the bricks are able to breath and dry - otherwise they will spall - so normally you do not want to apply the foam directly to the brick.If the building is structural brick, then there may be an internal framing for walls, but more likely there will be furring strips attached directly to the brick.
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2 February 2016 | 7 replies
Hi there,We are hoping to put an offer on our second rental property soon and I am wondering if anyone knows a convenient way to send and receive applications electronically or otherwise where we don't have to meet each and every person at the rental and give them an application.