Harrison Lopes
Best Advice for Finding a Great CPA for Rental Properties
8 June 2020 | 3 replies
What are the qualities you look for in a CPA to determine if they are the right fit for your rental portfolio and goals?
Drew Lamb
Regrets or anything different after using 401(k) for purchase?
11 June 2020 | 8 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.
Danny Haddad
Owner financing help
7 June 2020 | 14 replies
Each one should be outstanding and cause desire in buyers.
Sara Mickelson
Newbie from Colorado
24 October 2020 | 18 replies
Keep an eye out on the events page as there are many quality groups that meet in Northern Colorado.
Chadeesia Dunkley
Should I pull money out of my 401k to use for down payment???
9 June 2020 | 6 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.
Kellon Parkinson
DEALS: Bad until proven otherwise OR Good until proven otherwise
9 June 2020 | 8 replies
So if you eliminate all of those properties that have old roofs, mold, settlement issues, outstanding code violations, and more of the why step in that - I'll call those "bad deals," you can get on with analyzing deals that are worth your time and possibly worth doing.
Peter Lee
Bringing self-storage rents to market rate...How?
16 June 2020 | 19 replies
Regarding size, we knew that we intended to run the facility remotely so the facility needed to bring in enough revenue to hire quality on-site staff.
Kevin Gamboa
SAN DIEGO vacancies
6 June 2020 | 1 reply
We get a known quality tenant, no risk associated with placing a new tenant, reduced vacancy costs, and no money/time spent turning a unit and finding a new tenant.Good luck
Christopher Forero
Pulled trigger - Under Contract on 2 Flat w/ Finished Basement
11 August 2020 | 5 replies
The quality of your tenants are what will have the biggest impact on your happiness.
Ashley Knodel
What appliances do you use in your rental properties?
7 June 2020 | 7 replies
@Ashley Knodel Lowe's typically has great deals on appliances and as far as brands, whatever great deal you run into (that are known to also be of good quality) will do.