George Hughes
Would like to get into flipping houses but worry $$$ to start
30 March 2017 | 15 replies
You can also take pictures of the property beforehand and afterwards and show others the flip you participated in.
Brian Garrett
Cash vs. Lending when just getting started?
13 April 2017 | 20 replies
Unless you can save and raise money quickly.You can also participate in flips to build the money.
Lyuba Barrington
Free spot in Ron Legrand workshop in Minnealopolis - 8/12/17
9 August 2017 | 1 reply
Your only cost is gas and hotel room for 1 or 2 nights.Workshop runs from 8-5 this Saturday.This is an intro workshop into the Ron's program, so he is likely to be upselling participants on some of his more extensive courses, at least part of the time.
Joseph King
No money down loans strategy help
12 March 2016 | 34 replies
@Joseph Kinguse the @ symbol to tag other thread participants or your colleagues.
Ashley Sanchez
Need your 'two cents'! How far in advance to get 'pre approved'?
13 October 2016 | 29 replies
Look at it as a cost for participating; you do need to pay for the movies or the delivered pizza too!
David Drew
Should I have my LLC taxed as an S-Corp?
12 October 2016 | 16 replies
This means those payments not subject to SECA tax and—provided the shareholder material participates in the business—they are not considered passive income.Thus, an S corporation can do some tax planning that can not be accomplished in a typical LLC.
Tea Marie
Newbie Los Angeles member interested in non-local rentals
8 November 2016 | 9 replies
I'm excited and looking forward to participating on BiggerPockets.
John Buzzard
Self directed ira
10 October 2016 | 8 replies
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; 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 (checkbook IRA) 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.)
John LaVecchia
Should I get involved with section 8?
15 November 2017 | 39 replies
@Eric Taylor, my motivation to participate would be the increase in rent.
Account Closed
For The Love of Pete Don't Syndicate your First Deal!
26 April 2023 | 54 replies
Syndication are the best way for a person to participate in all of the best aspects of real estate investing without needing the knowledge or expertise.