21 March 2017 | 3 replies
On another note, if you are looking to have access to some of the retirement funds without having to pay taxes, you could open a solo 401k plan, which can be directly invested in real estate, and then you can borrow some of the solo 401k funds.Following 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;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your own business.
1 December 2018 | 3 replies
Really looking for a tried and tested individual that produces timely / quality work and has great communication.
16 March 2017 | 7 replies
You must actually incur an expense in order for it to be deductible.If you want to pay yourself a management fee, you can do so, but you then need to declare that management fee as self employment income (or into another entity if you like), thus subjecting it to self employment tax.As an individual, you are a cash basis taxpayer (unless you make some pretty specific elections otherwise).
21 March 2017 | 12 replies
If you listen to it, keep in mind he is not personally a fan of owning SFR's individually so take those comments with a grain of salt from the standpoint that everyone has their POV and risk tolerance.
16 March 2017 | 4 replies
LLCs generally are pass through entities and are not taxed separately/in addition to the individual, unless it is an LLC that has elected to be taxed as a corporation.
19 March 2017 | 4 replies
With online, you could split everything by class for individual properties.
15 March 2017 | 3 replies
This is a major criteria to find qualified leads and if I cannot access this, I'll be mailing many individuals with little or no equity .Any advice would be appreciated!
15 March 2017 | 10 replies
IRA is individual retirement account and anyone can have one.
23 March 2017 | 47 replies
I do consider myself a fairly smart individual...but I dont think my success in real estate investing is because of that, its merely because I bought properties and held them as prices continued to rise.
15 March 2017 | 2 replies
Account Closed Yes, the primary insured should be the entity that holds title to the property.If the entity is an LLC, Trust, Limited Partnership, the insurance policy includes language extending coverage to the individuals owners the entity.I have many clients who have closed in their personal name and then transferred to an LLC shortly after closing.