Georgui Kasaev
Getting my LICENSE, anyone else doing the same?
5 May 2018 | 117 replies
I assume it is electronic as opposed to overnight mail, haha.
Aaron Q.
Can I invest a $60k roll over IRA in real estate?
24 January 2018 | 20 replies
Following are the similarities and differences between the solo 401k and the self-directed IRA.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.)
Erik Mogan
No money or credit, plus my job stinks. (Advice request)
14 February 2018 | 66 replies
You could run this from any where, put a lock box or electronic pad lock on the door then get your wife to clean when they leave.
Cynthia Miller
Flipping how to find off market deals? Good states?
19 May 2018 | 7 replies
Managing flips is an art in an of itself, managing from a distance especially without a team in a nightmare.
Bryan Clement
Leasing a Property or Apartment for AirBnB
4 December 2018 | 25 replies
You need to stock it with appliances, electronics and basic furniture.
Benjamin E.
Pre screening email ok?
28 January 2019 | 4 replies
Often thru a phone call rather than electronically.
Charlie MacPherson
A Guide for Photographing Real Estate
23 May 2019 | 2 replies
My camera (and many others) will take 3 shots - very dark, normal and very bright, then align them, smash them together electronically and throw out the over and under exposed parts.
Erin Kreiger
STR Monthly Expenses/Occupancy Rate
4 March 2021 | 2 replies
Hot water tanks, toilet parts, electronics, air conditioning, heat.
Sam LLoyd
Help me pick out the best management software
21 September 2016 | 11 replies
I'm also trying to move everything over to electronic so I don't have to wade through stacks of home depot receipts in April or try to remember which sock drawer has the lease agreement with a signature.
George Gammon
Inflation vs. Deflation...Arguments For/Against and Hedging.
18 September 2016 | 0 replies
Financial assets...stocks, bonds, real estate, art etc.