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10 September 2019 | 20 replies
It will be beneficial for you to go learn a bit more about how our current market works in regards to financing and capitalizing loans.
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26 October 2016 | 58 replies
The ball would be in their court, after you cancel the contract, to challenge you with a legal battle and I don't think that would be cost beneficial for them to chase commissions on one property and, if they did, I don't think they would be successful.
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26 October 2016 | 11 replies
What I've been researching is if it would be more beneficial to invest in a cheaper market so i can increase the quantity of properties.
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14 January 2021 | 7 replies
@Joe Villeneuve did you find the groups you were involved with were beneficial for the membership fees?
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26 October 2016 | 6 replies
That is easily accomplished by creating a mutually beneficial relationship with your tenant and going the extra mile to ensure your home feels like their home.
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21 October 2016 | 9 replies
Following is the differences and similarities between an IRA and a solo 4K.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); 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 2016; 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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23 October 2016 | 1 reply
Now that my overactive mind has had a chance to relax after getting all of that ^^ out after a couple of intense days of twisting and turning ideas and insomnia, I'm realizing that while the whole TIC + 121 + 1031 exercise was helpful in that it brought us to a spot where we came up with the idea for how to take the $500k cap gains exclusion from the sale of just the upper, I see now that the whole 1031 motivation that inspired all of this thinking isn't actually necessary/beneficial.
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5 February 2019 | 47 replies
Thats a good experiment to try, especially if you were able to use that to justify a higher price, that might be a fun/interesting/possibly beneficial experiment to try.
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24 October 2016 | 12 replies
I bought my original portfolio of duplexes and houses with money I made from Mutual Fund Investing while I worked on Oil Tankers with a Union.
24 October 2016 | 2 replies
If, that is the case, you may try to restructure the partnership mutually, or leave it.