Shahnawaz Qadir
Starting Out in the Real Estate Rental Market
20 January 2024 | 29 replies
Columbus has experienced so much growth for the past few years, partly due to the influx of tech giants like Intel ($20 billion), Meta, Amazon, and Google building warehouses and data centers in the area, which has contributed to an increase in property prices and more people moving into the city for job opportunities.
Pamela Maduro
New to the investor's side
19 January 2024 | 33 replies
Syracuse is somewhere in between those two, but is experiencing a sudden boom in values and interest thanks to Micron.
Juan Figueroa
New Investor Tax Help
20 January 2024 | 13 replies
Readers are advised to seek professional advice.
Matt Smith
Need Tax professional - W2 employee with 1 LTR and 1 STR
16 January 2024 | 10 replies
@Matt Smith - I recommend that you interview multiple tax professionals.
Nicholas Stevenson
18 years old, 50k cash, what would you do?
18 January 2024 | 7 replies
So just think, more crappy.I would encourage you to create an LLC with an experienced investor and buy a house with your 50k with an experienced investor.
Jake Weber
CPA - Charlotte NC
18 January 2024 | 7 replies
Reach out to @Natalie Kolodij She is in Charlotte.And if it does not work out, then this forum has 20+ other tax professionals who are not local but work nationwide.
Marcus Auerbach
Thank God I had an LLC!! - Said no one ever!?
19 January 2024 | 140 replies
(my understanding is that under 4 doors youre considered more mom and pops rather than professional, so the expectations arent quite as high)I firmly believe in:1.
Nathan Kostrba
Looking for an experienced Real Estate CPA
18 January 2024 | 3 replies
I am looking for a CPA with real estate experience who is passionate about developing tax strategies for SFH investors.
Elizabeth Naranjo
Looking for CAP familiar with using Roll Over for Business (ROBS) funds for fix&flip
19 January 2024 | 2 replies
If you are comfortable working remotely then there are at least 20+ professionals here that would be more than happy to assist.If you have a specific question about ROBS you can always post it and then use the answers on the forum to filter who has the most knowledge and experience in that area of tax law.
Tony L Holland
SIRA, E-QRP, Investing in Real Estate/Vacation Beach House
19 January 2024 | 7 replies
Here are some factors to help you make an informed decision:SDIRA vs. e-QRP:SDIRA (Self-Directed Individual Retirement Account):Allows for a broader range of investment options, including real estate.Provides more control over investment decisions.Requires custodial services, and there may be fees associated with the SDIRA provider.Strict rules and regulations to ensure compliance with IRS guidelines.e-QRP (Enhanced Qualified Retirement Plan):Similar to a 401(k) but with enhanced features for greater flexibility.Generally, more streamlined than SDIRA with fewer administrative requirements.Allows for real estate investments, business investments, and more.May offer more control and fewer restrictions compared to SDIRA.Financing Considerations:Both SDIRA and e-QRP can be used for financing, but the terms and conditions may differ.Check with your chosen custodian or plan administrator to understand the borrowing rules and any potential penalties.Tax Implications:Understand the tax implications of using retirement funds for real estate investments.Consult with a tax professional to ensure compliance and to minimize any adverse tax consequences.Market Conditions:Consider the current real estate market conditions in the location where you plan to buy the beach house.Evaluate potential risks and rewards, especially in the context of your investment horizon.Long-Term Strategy:Since you're planning to work for another five years and potentially sell the house later, ensure that your investment aligns with your long-term financial goals.Interest Rates and Economic Conditions:Monitor interest rates and economic conditions, as they can impact the timing and profitability of your real estate investment.Professional Advice:Consult with financial advisors, tax professionals, and legal experts to get personalized advice based on your specific financial situation and goals.Due Diligence:Perform thorough due diligence on the property, renovation costs, potential rental income, and local market trends.Remember that real estate investments, especially with retirement funds, require careful planning and adherence to regulations.