Ping W.
risk associated with direct deposit to collect rent
I asked my tenant to pay the rent by direct deposit thinking that would be something similar to salary direct deposit but the renter told me that his bank needs to deposit a small amount to my bank and then withdraw i...
Daniel Dietz
Selling to a Prohibited Party AFTER taking a property out of SDIRA?
Hello,
I have not been able to find this specific topic in the archives, so here goes.
Scenario; An individual purchases a house as a rental property within their SDIRA, AFTER they have turned 59 1/2. They then hold ...
Jack Taylor
First-time homebuyer definition/early IRA withdrawal downpayment
I am looking to buy a home and may need some additional cash to complete the down payment. I have a simple IRA that I'm considering withdrawing from to complete the down payment and was hoping to fall under the "first...
John Zoumboulis
CARES Act take 100k for BRRR?
I have 2 properties in mind hard to pass up can purchase with 100k. Do a hardship withdrawal pay it back within the 3 years or loan within 5 years but with the loan a lot of cash would come out of my paycheck weekly. ...
Dave Rav
Banks using the pandemic to prevent access to $$
Hey Group. I have noticed some of the larger banks (B of A) are *still* hosting limited lobby hours and business hours. They cite "CDC guidelines" as their reason for this. I have visited multiple B of A branches, ...
Chad White
Investmenting funds from retirement account in flipping
Hi Everyone...I found out that one of my parents has substantial funds in a Money Market account that is part of his retirement portfolio. His accountant said he can invest it in ventures other than stocks, bonds, mu...
Hugh Carnaha
How does market dip effect the FI people living off investments?
Howdy Guys!I listen alot to BP's Money podcasts. I know that the Corona virus has spooked the market down by 12% in the last few days. And I know it is generally held that it won't matter what we do if you hold for th...
David Mathews
Hurricanes+Recoverable Depreciation = A Possible Creative Offer?
Hello BP world. I am writing from storm stricken Lake Charles, LA. Within a short period of time our city endured two back to back hurricanes, a freakish flood, and an unprecedented freeze that has unfortunately left...
Jaziel MaldonadoRoman
Can you use retirement savings as collateral
Hi, I'm currently an active duty military member and I have saved up 14k on my tsp. I want to start my real estate journey towards financial freedom by buying multi-family and house hacking. I am aware that I can get ...
Joe White
Can 403K Funds be used as SDIRA w/same employer?
Can 403K Funds be used as Self Directed IRA if I'm still employed by the same employer that originated and implemented the 403K plan?