William Allen
Chattanooga Flippers, Landlords and Wholesalers
16 January 2017 | 8 replies
After several moves from the North East to the South West, I'm finally proud to call Chattanooga home.
Alexander Timberlake
Engineer in Houston looking to Network with Houston REI
13 January 2017 | 5 replies
This has opened up my eyes to the great wealth generating potential real estate has.I am actively participating in the Houston REIA and RENC.
Jake Crandlemire
DC investor looking for syndicated deal
14 January 2017 | 6 replies
@Jake Crandlemire, as Marc mentioned you can participate with someone who is doing a Reg D 506b offering as long as you are "sophisticated."
Taber Roberts
Buy & Hold Property built on a "double" lot. What do I do?
12 November 2019 | 11 replies
The last time I participated in one of these in Georgia it cost about $1000 to do it.
Nghi Le
Teaching Financial Literacy to Young Adults
31 January 2017 | 9 replies
I think your list of topics are all relevant in varying capacities (dependent upon the participants' individual situations and goals).
Timothy Metra
Will the military take away from me as a real estate investor?
3 February 2017 | 15 replies
I'm not going to get rich quick, but I am able to proudly serve while growing my portfolio every year.
Joel S.
Parents Self Directed IRA, any investment options?
5 July 2017 | 20 replies
I've found various references to Internal Revenue Code Section 4975(d) and one note that looked kind of interesting was "Receipt by a disqualified person of any benefit to which he may be entitled as a participant or beneficiary in the plan, so long as the benefit is computed and paid on a basis which is consistent with the terms of the plan as applied to all other participants and beneficiaries" I don't complete (or partially) understand what that is trying to say.
Mike Murphy
Wanting to invest with money from an IRA
22 January 2020 | 11 replies
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; 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 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.)
Jim Sestito
Living in The Basement and Proud
6 July 2017 | 6 replies
OK BPersCurrent situation - Personally need a new place to live - Want to keep house hacking (own one 2-Fam which I currently house hack) - Not having great luck on the MF market in my neck of Massachusetts - Seeing ...
Austin McAnena
Finding The Right Niche
26 August 2020 | 15 replies
Since you are looking outside CA as one option, you could look at participating in syndications in the niche areas you are interested in.