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Results (10,000+)
Shawn H. Land trust/LLC tax question
6 August 2012 | 7 replies
I'm trying to follow suggestions from other members posts to obtain privacy(Land trust) and asset protection(LLC).
Casey Marley 2 story 12-plex versus 3 story 16 plex? FLOOR PLANS?
17 January 2019 | 7 replies
This is simple watered down way to do it but at least it gives you a idea quickly on the profitability of the asset.
Kurt F. Attic Apartment
24 September 2012 | 2 replies
So, just based on that sort of concept of capitalizing on every available asset, I am kicking around the idea of getting another rent out of the duplex and turning it into a triplex.
Matt Liu Credit Partners... The Key to Wealth??
18 January 2014 | 13 replies
They are not going to buy investment real estate alone because they don't know how to find good deals like I do, and they're scared of many aspects of managing the asset, but I'm not.I believe this is a very powerful approach, and yes there are some kinks to work out, but it can be tackled.
Robert Pickles Feedback on MidAtlantic IRA
22 September 2018 | 15 replies
@Kim BlattYou may want to look into a self-directed solo 401k plan if you are looking for ultimate control over your retirement 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).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.)
Shannon X. Business Plan
22 September 2012 | 7 replies
Gon't exagerate.I remember one guy that came to me with a decent plan, decent numbers, sufficient assets and a decent product, but he didn't get a dime from me.....why?
Jon K. How to screen College Student?
29 September 2012 | 7 replies
Just make sure the consigned has enough assets to cover your assets...
Paul S. Out of state purchase as a first time investment
25 September 2012 | 19 replies
Some of the core markets now are trading at crazy prices and really low caps.I have also seen where a house used to be worth 160k and at it's lowest point the value with foreclosures was worth 75k.Because pre-foreclosure and REO inventory has dropped that same house is trading at 92k within a span of 6 months.I have seen new home subdivisions start popping up as builders feel more confident taking a risk to jump back into the market to sell houses.I wouldn't really call it appreciation as much as a market correction and recapture as the bad assets are worked through they system.
Account Closed Standard Car forms
22 September 2012 | 5 replies
CAR uses ZipForms; you can buy the software and load it on your computer, or sign-up for online access (available anywhere with internet connection; always updated).
Dennis Mcdonald Transfer existing property to LLC to qualify for new mortgage
22 September 2012 | 10 replies
And the underwriter will question what real estate asset is being financed by the mortgage debt showing up on your credit report.