Account Closed
Using IRA money to fund first purchase
I work for a bank and during IRA training today it was briefly brought to our attention that the IRS waives its 10% premature penalty on a Traditional IRA distribution if that distribution is used for a first home pur...
Catherine McHale
Good interest only HELOC is C. Calif for primary home?
Hello! I'm looking for any recommendations for a good primary home HELOC - interest only for 10 yrs withdrawal period. I am trying to pull out ~$250K-$300K, which should be feasible, as I believe my home is valued...
Daniel Gerardi
Roth IRA conversion or rollover to a solo 401k. Is there a way ?
Hello BP Community ! I live in Phoenix AZ and in my quest to choose the best self managed retirement account (for me), that I can fill with a few hand picked investments from the NYSE to grow my wealth for retiremen...
Dale Osborn
FDIC and NCUA protects who?
Just who does the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Association (NCUA) protect? Everyone feels it is their own savings that is being protected. Not so! The FDIC is actually set...
Mary White
Accountant says, "I'm screwed on taxes for the BRRRR I did..."
In 2017 I purchased a foreclosed 4-plex to do a BRRRR. We cashed out a state retirement account from a previous job, used cash and also partial 1031 money for the all cash purchase. In March of 2018, I got a loan on t...
Alik Levin
HELOC interest deduction - New Tax Law
Dear all,What's the definitive answer - and preferably pointer to authoritative resource - regarding deductability of interest on HELOC with the passage of new Tax Law? I do realize that HELOC interest deduction now o...
Amit Raghavan
Business Accounts, Funding and Withdrawal Questions
Hi Everyone,I am just getting started and wanted to figure out the best structure to setup my business accounts as well as fund /withdraw from it. The main goal here is to maintain clean trail as well as minimize que...
Scott Graham
BRRRR - How much can you actually cash out at the Refi?
Hi BP - I am in the process of closing on my first duplex and I want to use the BRRRR strategy on this property. The part of the BRRRR strategy that I do not fully grasp is how much can one truly cash out after refina...
AJ Satcher
Does a HELOC Work Like Actual Cash?
This could seem like a silly question, but I am going to ask it anyway to gain a better understanding of how a HELOC works. So….If a HELOC is a line of “credit”, what’s stopping me from using my personal credit lines ...
Alan Chau