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Results (10,000+)
Fred F. Using both self-directed IRA and solo 401k on same property
7 November 2016 | 6 replies
As for the convenience of paying investment related expenses, the Solo 401k could have checkbook control built in without the need for an additional LLC owned by the retirement account.
Jovan Dinnall StrawMan
26 January 2021 | 1 reply
I would like to know if anyone in here knows what there STRAWMAN is and if so have you taken control of it through filling a UCC-1 form?
Ben M. Loan
4 April 2019 | 8 replies
Usually, you have a defined amount of time to control the house (say 2 to 5 years).
Stephen Stepp Pin Point Your Criteria
14 November 2016 | 3 replies
The only niche you need are these two CASH FLOW or EQUITY.IF THE property has either of the above - than considered ituse creative acquisition formulas use delayed settlement tacticssubject to only one out clause employ a skinny contract offermake offers everyday subject to inspectionsmake an offer on every property you find use check fundsdo not use an agentdo not deal with listed real estatework on FSBO's and expired onlyAdvertise on the radioControl and Roll everything you findHave fun and enjoy this wonder profitable exciting cash flow business
Anthony Dew Ideas for buying a $10 Million+ unit with NO MONEY DOWN
16 April 2017 | 22 replies
See what needs to happen for you to buy or at the very least gain managing control of the entity (assuming there is no clause in the lenders docs or operating agreement of the entity that prohibits this).Its a long shot but you may get some valuable experience from this.
Sam Amir Moving Thermostat Options?
7 November 2016 | 2 replies
We just installed one in our personal home and like the way it works,, got a Nest brand.We had a 3 story 6 plex and had same set up when we put in a new boiler we made the control for thermostat in the basement under our control
Jake Knight Best door lock for vacation rental
10 November 2016 | 9 replies
This property is in another state and I want to be able to control access remotely.
Justin Young Are there any fees to starting an SDIRA?
9 November 2016 | 5 replies
Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth 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; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).The 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.)
Account Closed Tenant doesn't have electric
15 November 2016 | 10 replies
In the future you take control, have tenant sign the power utility form in front of you and you submit it to the power company, as landlord, then the power is not interrupted and you are on record for any shutoffs. 
James Marszalek Funding an owner/occupied Multi-Family with Private/Seller Money
8 November 2016 | 1 reply
Hypothetical Scenario: You want to purchase/control a multi-family property that you (as the investor) will occupy (one of the units).