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19 March 2017 | 7 replies
We had submitted about 4 offers, went into negotiations but in the end could not come up with a mutual buying/selling price.
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5 July 2020 | 37 replies
If you are a long distance investor let's connect over the phone or video.
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14 November 2016 | 2 replies
Property I managed hired a service for all their photo's of inside and out, and the video's they weren't cheep and were OK.I think with a tripod you could do just as well.
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16 April 2017 | 22 replies
Lot's of free videos etc.Just from what you have side it seems like a pipe dream in the marketplace.
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10 November 2016 | 9 replies
A wholesaler could submit a higher offer with an option period that can't sell it during that time frame.
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9 November 2016 | 5 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 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.)
15 November 2016 | 10 replies
In the future you take control, have tenant sign the power utility form in front of you and you submit it to the power company, as landlord, then the power is not interrupted and you are on record for any shutoffs.
7 November 2016 | 2 replies
I am just a beginner at everything and I just would like to know if there are any books, videos, podcasts, etc. that I might have skipped over in Bigger Pockets that would benefit me on strategizing and knowing what to do when the market goes up, and when the market goes down.
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9 November 2016 | 16 replies
I'm currently trying to purchase my first home for a fix & flip the asking price is 50k I'm going to offer 40k and hope to meet in the middle at 45k with rehab cost around 5k, my real estate agent says we should be able to resale between 60k and 70k, my problem is finding a lender that will loan me less than 50k , I think I may have found a lender to do my deal,just have to submit the deal them once I get it under contract. wish me luck, this site has been very helpful, thank you all for the feedback, much appreciated.
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12 November 2016 | 4 replies
@Thesda McIvor, I just joined this week myself, after about a month of watching the podcast YouTube videos from a recommendation of a friend.