Brandon Silvia
Biggest Problem with Conventional Lenders
26 March 2018 | 5 replies
Each company can charge different rates and points due to how greedy they are.
Richard Jump
Self Directed IRA Investing Scenarios
3 April 2018 | 8 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.)
Jon A.
Renting to an LLC as a halfway house
11 July 2019 | 5 replies
They do all the yard work and clean as part of their daily chores, etc. but the program charges a substantial amount of money that is paid by insurance companies, so they cram a lot of beds in each room because they are making money with more clients.
James Warner
How to pay a private investor?
25 March 2018 | 3 replies
If would be easiest for this transaction if I personally closed on the property, cut the $30k check and signed for the $500/mo (or whatever) mortgage, then informed him that he owed me $15k and $250/mo for the next 30 years.Then as rent checks come in (let's say 6 units at $800 apiece, so $4800/mo made out to the LLC), the LLC would pay the mortgage (-$500), the property manager (-$480 at 10%), set aside funds for maintenance/capex (another 15% of gross, -$720 in this example), any applicable utilities, taxes, insurance, etc (say another $500), that leaves us at 2600/mo. profit.
Micaiah Cormier
Is there a separate state and federal capital gains tax in VT?
4 April 2018 | 6 replies
I'm looking at a promising flip in Vermont, but I read that the state of VT charges a cap gains tax.
Dustin Verley
Day Use Short-Term Stays
26 March 2018 | 6 replies
One place even allowed you to book by the MINUTE (for instance, a $30 service charge, plus $0.16 cents a minute) with a $70 minimum (meaning you would have to book AT LEAST four hours.)A further example: One hotel allows you to book a room from 2pm-8pm for $100.
Matthew Paul
Should I even bother to call this person back ?
26 March 2018 | 21 replies
I have a document titled “Preliminary Rental Questionnaire” that asks a few of the more important questions from my rental application which I send to every single person that applies for my rentals, regardless of criminal history (we can see judgments against any Wisconsin resident as soon as we know their name).
Courtney Downtain
How do I handle a rude neighbor?
4 April 2018 | 55 replies
Just call the tow company and the cops, file any tresapass/dumping/whatever charge you can.
Mike Malfitani
How long do HELOC funds need to "age" before using for investment
25 March 2018 | 3 replies
Check with your lender but you should be able to deposit the funds during the loan application process and will probably be asked to provide a letter of explanation and possibly a heloc statement showing where you got the money.
Keith Jourdan
Tenant from hell eviction case. Now I have officially seen it all
10 April 2018 | 39 replies
Enough landlords used blanket-type policies that would exclude someone with a silly retail-theft charge from 20 years ago, that the lawmakers are gaining traction in some areas in banning background checks all together (even for murderers).