Wil Townsend
Property Management outside of my area needed
28 December 2022 | 4 replies
If that is what you want, OK, but in my opinion, it's your ***(et) so you certainly have the right to review tenant applications.
James Reyes
VA investing strategy
10 February 2020 | 30 replies
. - Include a copy of the veteran’s application for retirement submitted to his or her employer. • Carefully consider the applicant’s income after retirement. - If retirement income alone is insufficient, obtain firm commitments from an employer that meet the usual stability of income requirements.
Matthew Arnold
First post/initial plan
27 December 2022 | 6 replies
Lots of good information in there that might be applicable for you.
Lloyd Hassell
Use multiple HELOC's for downpayment on $1.2 million multi-family
26 December 2022 | 1 reply
You cannot use a HELOC as liquid reserves since it's a open end liability.You would be better off taking cash out of a property and securing it into an account checking/savings and allowing it to be "seasoned" for 3-4 months prior to putting in the application.
Ricky Stafford
Hypothetical - tenant signs lease but never pays
26 December 2022 | 20 replies
No money, no lease,...no lease, no keys,...no keys, not tenant,...no tenant, property is still up for lease,...and I'm still taking applications.
George Knetzger
Price point for rehabbing single family
2 January 2023 | 8 replies
@George KnetzgerHere is an example:Purchase $100,000 Rehab $25,000ARV $165,000Your cost are $125,000 plus utilities, property taxes, cost of money, if applicable, and closing costs.
Troy Welch
Tenants with marital issues - husband destroying property
2 January 2023 | 6 replies
The strongest applicant is the primary, the one you would want to stay.
Ryan Bird
Year end letter or gifts to tenants
1 January 2023 | 14 replies
This year we gave out tape measures with our logo on them to most of our property owners, vendors, and our top tenants.
Account Closed
I want to open a Self Directed IRA
13 February 2018 | 11 replies
., 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.)
Damon Aniton
House hacking for the long term
27 December 2022 | 7 replies
VA loans backed by the Department of Veterans Affairs even allow veteran borrowers to obtain 100% financing on a home.According to the Consumer Financial Protection Bureau (CFPB), before shopping for a mortgage a borrowers should:Check their credit reportAssess how their spending habits will change with a mortgageBudget for additional or changed expensesDetermine how much of a down payment is neededDecide on a purchase price of a homeCreate a loan application package with personal and financial information including pay stubs, W-2 forms, copies of recent tax returns, bank statements, and proof of identity2.