Brandon Sturgill
What's a Decent Curfew for a Multifamily Property?
2 October 2016 | 8 replies
Here is a summary of the Section: - Developing a set of house rules is a good practice - The decision about whether to develop house rules for a property rests with the owner- House rules need to be listed in the lease (addenda or otherwise)- House rules must not be discriminatory ("create a disparate impact") per federally protected classesAs pointed out, some tenants may find the concept and term curfew derogatory.
Tom W.
New investor from New Jersey looking for advice.
2 November 2016 | 17 replies
I originally listed it $20,000 below my realtors suggestion and had very few lookers.
Mark Davis
What exactly is cash only
5 October 2016 | 30 replies
Thanks for the extensive and comprehensive list
Conner Sweet
I'm Conner, new member from Olathe!
31 October 2016 | 8 replies
Read as many books as you can... you can find a recommended reading list on BP as well.Best of luck!
Dan MacDonald
Follow-up process for sellers who want to sell in 6-12 months?
1 October 2016 | 1 reply
I used to try to keep these people on a list to stay in touch with, and hope I that I'm there when the right time comes.
Dylan Henke
Why I'm NOT succeeding
4 October 2016 | 18 replies
Write down a list of goals and a definitive timeline in order to get you moving towards that goal.
Trey Foradory
Tax records mailing address incorrect, how do I find them?
1 October 2016 | 2 replies
I sent the marketing piece to the address listed in the tax records but apparently this address is incorrect.
Emin T.
Accuracy of Zillow Home Value Forecast
26 October 2016 | 10 replies
Still very useful tool and all you have to do is look how high above or below the zestimates comparable homes are listed for to give you a good base to start with.As far as forecasting values, never make a decision on this hearsay.
Waylon Gates
New member from Lake Havasu City, Arizona
4 October 2016 | 17 replies
@Waylon GatesFollowing are the similarities and differences between the solo 401k and the self-directed IRA.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; 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 2016; 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.)
Felicia Stafford
Real Estate Investor and Realtor
1 October 2016 | 2 replies
Also, add me to your buyers list for properties in my area.