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13 January 2018 | 12 replies
Most states are now using some modified version of the IRC (International Residential Code).
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29 December 2017 | 4 replies
Hi BP - I usually leave rent collection to the PM pro's, but I just sold a property on land contract and don't want checks sent via snail mail, rather I'd like to get them electronically deposited into my account.Any recommendations for cloud-based systems that make it easy for tenant to pay either online or at a local store that handles transactions like this?
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30 December 2017 | 9 replies
I am 24 years old and a CPA, currently employed by one of the big accounting firms, mostly specializing in international and federal taxes.
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29 December 2017 | 3 replies
The 20-30 properties I imagined was for cross country-international moves.
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2 January 2018 | 2 replies
I find this idea very intriguing! Setting up a factory for manufactured housing in developing countries. After having travelled around the South Pacific and the Caribbean for a few years, I can see a definite market f...
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2 January 2018 | 4 replies
Many banks have internal overlays that are more restrictive than Fannie guidelines.
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10 January 2018 | 12 replies
@Connor ParsonsTo learn about what is considered self-employment activity for participating in a solo 401k plan, please see the following. https://www.irs.gov/businesses/small-businesses-se...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 2017, the solo 401k contribution limit is $54,000, 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.)
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29 December 2017 | 2 replies
http://www.firstam.com/mortgagesolutions/solutions...They might use a company like this and have a real estate agent like me go out and take pics of the house, then the agent returns to their desk to complete a form that provides comparables and neighborhood information as well as pictures and they use that evaluation in conjunction with their internal appraiser to determine the FMV.
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30 December 2017 | 4 replies
I work with out-of-state and international investors.
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31 December 2017 | 3 replies
Does anyone have experience using a Self-Directed IRA to purchase real estate rentals internationally?