Jeremy Hicks
New member from California, looking to invest long-distance
7 June 2016 | 36 replies
Census Bureau, Georgetown is the fastest growing city in the nation and New Braunfels is the second.
Rick Wagner
Venture Capital for Short Term Real Estate Investments
2 June 2016 | 6 replies
Hello Rick,The term venture capital is a narrow subset of the institutional capital universe.
Kenneth Silva
boston area buy and hold vs. cape cod vacation rental
24 April 2017 | 18 replies
I do know that there are a lot of marine biology students from the oceanographic institute in woods hole that need housing over the winter and rent houses in Falmouth during the offseason.
Matt Maluchnik
Bill Bronchick's Self Directed IRA from checking act??
2 June 2016 | 2 replies
See the following: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 2015; 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.)
Wendell De Guzman
Wanna Be A Wholesaler But Not Sure If You Have a Good Deal?
23 December 2015 | 22 replies
Before you pitch that wholesale deal to BP Nation, find out first if your deal is something that a rehabber or landlord would want to buy.
Matt Powell
Do portfolio lenders' terms vary by deal?
28 December 2015 | 16 replies
fdic -> Industry Analysis > Bank Data & Statistics > Institution Directory then county (e.g.
Scott Smith
Ask Me Anything! Free legal advice
13 December 2018 | 86 replies
What it comes down to is that most large national businesses can be sued in any state, but smaller businesses that are headquartered in another state, do not business in your state, and have no physical presence in your state can be sued only in the states where they operate.
Mindy Jensen
BiggerPockets Has 400,000 Members!!!
19 November 2015 | 21 replies
Congrats on some amazing growth BP Nation!
James Gorman IV
Any 1031 Exchange & TIC or other investments experience in WA.
23 November 2015 | 1 reply
Any good qualified intermediary with a national presence should be able to help you with a 1031 exchange.
Nima S.
Adding Separate Meters on 2-unit (Queens-NYC)
6 September 2021 | 11 replies
Good Afternoon - BP Nation.