Dave Rav
Wholesaling - new marketing methods
28 April 2018 | 22 replies
It is everywhere now, and I think we can all say we have seen the number of people interested in and participating in REI grow exponentially.
Mark Forest
Rent payment methods Zelle or Venmo
14 October 2019 | 54 replies
If you are using the Zelle® App, you may only have one debit card active at any given time.If you have multiple accounts at one participating financial institution, please contact your financial institution for assistance in assigning an email or phone number to each account.”
Greg Tawes
Meet-Ups in Maryland
26 September 2019 | 6 replies
I'm looking for some meet up groups to participate in in Maryland.
Alex Owens
Stock market correction, BitCoin collapse, and real estate
26 July 2021 | 71 replies
However, as you mentioned, the fact that it produces cash, plus tax savings on top of appreciation is why if you have the patience and money to acquire rentals, it can be a great addition to your portfolio.However, participating in the stock market consistently over the long run will generally see a lot higher returns than property appreciation (about 40% since the beginning of 2016).
Carlos Casanueva
The Real Estate Guys- Syndication Seminar
6 February 2018 | 7 replies
Good speakers and good networking with the participants there.
Anthony Finger
Refinancing a rental property
7 February 2018 | 7 replies
Here is a good application case of the BRRRR strategy.You, the investor, have savings of $50k and you want to invest in RE using the BRRRR strategy.You find a property for 100k which is selling at a discount because it needs some repairsDoing your analysis, you realize that other houses in better conditions in that neighborhood are selling at 165k.You also could realize you could improve the value of that house and all it would need is 25k of renovation work.Your plan is to rent out that propertyBecause it is an investment property, let's say the maximum the bank will lend is 80% of the value of the house, so you need to come up with 20K (which you have)Your realtor (or attorney) also tells you that the closing costs would be 5k.You go ahead with the purchase of that house for 100kYou spend 25k out of pockets at the closing (20k for the down payment required by the bank and 5K of closing costs)You spend another 25k for rehabbing the propertyAll the end of the rehab, you would have spent 50kYou rent out of the property.After maybe 6 months (or longer), you refinance the house by getting a new mortgage from a new lender for up to 80% of the current new value of the house.An appraiser comes and acknowledges you have done a good job and the house is now worth 165k.Following the same lending criteria, the new bank will then lend 132k (132k=165*0.8).80k of the loan for 132k you get will go towards repaying the previous loan and you'll be left with 52k which you can go and use the way you want.Remember you started with $50k of savings and no house.Now you are the proud owner of rental property.
Jean Claude
Anything for sale? I'm looking for deals
11 February 2018 | 4 replies
I love parks and find a lot of folks just don't really get the model yet but would like to learn more and participate alongside folks that really know how to find and operate them well.
Ryann Kluthe
Using self-directed IRA to purchase buy and hold properties
20 June 2018 | 11 replies
Following is more information regarding the solo 401(k) and the IRA LLC.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;Both 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.)
Jonathan Perez
Met my tenant today by accident, any tips?
14 April 2017 | 8 replies
I LOVE MONTH TO MONTH...As far as raising or increasing the rent for that period I don't think it really matters that much,, if her plans fall thru and she doesn't transfer and is still there you can on a MONTH 2 MONTH lease give her a rent increase 2 or 3 months down the road.. so your not stuck for a whole year.YOU should manage your own properties,, You should take note and introduce yourself to tenants if your on property so you know who belongs there, you should be proud of what you own, and take measures to induce the same pride of ownership in your tenants,, this tenant wondered who was walking around is a prime person,, concerned enough to wonder what was going on.I recommend you start with downloading the landlord tenant laws for your state, join a landlord association if there is one around you and take advantages of classes and other things they offer.Choice to dump your management co is fine,, personally if you live close enough like people and interaction then try it.. if you find it's not your cup of tea , then switch back.
Zee Singleton
I'm POOR....but DONT want to be!
1 May 2017 | 30 replies
Proud of you, break free from poverty. 10x it