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7 January 2019 | 5 replies
Other than special circumstances like you described with the lender who specializes in 401k funds you don't really see non-recourse loans until you're looking at loan amounts over $1 million.
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10 June 2019 | 30 replies
As Dion mentions, exemptions apply in certain circumstances, not for dealers in the business and being in the financing business means being licensed as a lender, someplace you don't want to go.
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14 March 2020 | 6 replies
Due to a number of circumstances I have been considering switching to self-management for some time now.
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31 March 2019 | 7 replies
Like stated above there has to be a good reason or circumstances.
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12 April 2018 | 27 replies
If they insist, I would make it clear, absolutely, 100% crystal no-misunderstanding clear, that you will NOT sign any personal guarantee on the loan under any circumstances, and if you get to the closing table and they stick one in front of you and tell you sign it or you lose the deal/deposit, you will walk away from that closing table.The reason I say this is that a number of SDIRA owners in the past have had exactly that happen, they thought it was non-recourse and then at the closing table were asked to sign a personal guarantee, and some of them did.BAM - that counts as "extending credit" to your IRA, which is a prohibited transaction, and my understanding is the IRS considers your whole IRA distributed at that point - and then proceeds to assess penalties and taxes accordingly.There are 1000 different ways to shoot yourself in the foot with SD IRAs, they are powerful but very tricky to get right, and the penalty for making a mistake can potentially be a lot of your retirement savings.
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17 April 2023 | 0 replies
"Learning to dance in the rain" is a metaphor that means finding joy and happiness in the midst of difficult or challenging circumstances.
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18 April 2023 | 12 replies
(ANY calls made from my cell to a tenant, I "block" my number, except in the most dire of circumstance, such as a house fire or other significant event.)4) In most cases, I do not call Tenant to acknowledge their request, I simply call or email the appropriate contractor (depending on type of issue and vendor involved.
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2 February 2023 | 10 replies
But I'm finding that some property managers will not allow you to preform a repair on a tenant occupied property under any circumstance.
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14 April 2023 | 2 replies
This raises concerns regarding the accuracy of the land value appraisal in 2020.Given these circumstances, I am uncertain whether it is still appropriate to use the 2020 appraisal numbers as the depreciable basis.
6 April 2021 | 6 replies
Not sure of your particular circumstances but I've been helping a lot of investors recently with house hacking and its a strategy not everyone thinks of.