Michael Bell
5k-10k investments
16 August 2016 | 6 replies
I wouldn't recommend this asset class for a new, out of state investor.
Shaquanda Taylor
Real estate agent in Philadelphia
18 August 2016 | 4 replies
Depending Neighborhood, Asset Type Etc.
Josh Pass
Advice on how to continue
14 August 2016 | 3 replies
Ok, I'm wanting to get into buy & hold but either I am at the state of 'analysis paralysis' or I am not really financially ready to do it.
Marvin S.
Payouts! Owner/Borrower Wants Out!
20 August 2016 | 39 replies
Almost all short sales forgive the remaining balance, but the owner needs to "qualify" for the short sale due to a financial hardship, not simply just being upside down on the mtg.
John Burtle
Interest rates
14 August 2016 | 2 replies
Likely they will stay below 5% for the next 12 months and depending on the Presidential election and who gets elected, they could stay below 5% for considerably longer.Eventually in 4-8 years, they will be back to 6-6.5% which is where the financial system hums right along.
Christopher Smith
LLCs or Umbrella Insurance for CA Rental Properties
14 August 2016 | 2 replies
You don't need one LLC per, though some folks do it that way for asset protection.Remember that all such business-related expenses should be fully deductible against taxable income.
Dan Krupa
Retirement accounts as collateral
17 August 2016 | 11 replies
@Dan KrupaFollowing 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); andThe 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.)
Jason Layman
NC long term asset based lending
15 August 2016 | 0 replies
I am looking for anyone who has worked with any lenders in Nc. Specifically Raliegh and Fayetteville areas.
Samuel Quinones
new
16 August 2016 | 2 replies
Currently I'm a student at CCSF perusing a broker license and financial degree.
Mariano Medrano
Investor in Okeechobee FL
2 September 2020 | 5 replies
Together we hope to reach personal financial freedom.