Mike Cumbie
Moving money to another LLC for startup
Hello,There are 2 LLC's. The first one does Fix and flips and has some money in an account (we can call it fixnflip LLC) that the members would like to put into another LLC. The other LLC has a different business mode...
Hal Elarbee
Private funding
my sister inherited a lot of money and has it in a investments through a financial planner.
Is there anyway that she can remove a large portion of her Investment money out of that vehicle and make it available to me t...
Wa Chan
Thoughts on pulling out retirement to invest in Real Estate?
Hello everyone!I'm a newbie to real estate investing and the quest for early FI. I've been saving to invest in my first property (likely a house hack either multi-family or renting rooms in a single family) in the Por...
Jose Jusino
Is it worth it?? (Hard Money)
Hi BP!
Quick question. What are your thoughts on Hard Money in NJ? I've seen areas where the taxes are about $12k a year. Thats almost a whole nother mortgage!
On top of fees, and points, and interest, how can Hard ...
DJ Brooks
Deferring taxes if 1031 doesn't work
I have a tax question. I have a financial advisor friend who said he can defer taxes (similar to 1031) from real estate proceeds into a charitable remainder trust or CRT. First, does anyone know if that is true? Now i...
Edwin Bethune
Searching for a solution on Tax Deed purchase/ rehab/ cash out refinance
I'm looking to purchase a tax deed property in my state of alabama. The road block that's got me is after I've used a hard money loan for the purchase and rehab of a tax deed property, how will I get from under the ha...
Ryan Rabbitt
Employer does not match 401k - should I invest?
Hey BP Community - My employer does not match 401k contributions so I'm considering abandoning the contributions altogether and instead investing in something like the SPY ETF on a regular basis. I'm curious if anyone...
Kevin Polite
Strip 401k/IRA or self-directed IRA
I am considering moving my IRA to a self-directed IRA and told a friend and he said he took the tax hit and depleted his IRA and is happy he did. He said even with the tax consequences he came out ahead. He has comp...
Bryan L.
Transferring funds between your businesses?
I am considering transferring funds between one profitable S Corp into an LLC for the purpose of purchasing a property. Is it better to transfer the money to my personal account as a share holder distribution and the...
Edward Ray
Do you pay yorself a base monthly salary?
Hi BP'ers,I'm working on my first property.It is a city property that I own free and clear.I purchased it for 8K ,will put 40k in rehab(60% gutted). ARV might be about 55-60k Its a 3/3 duplex.Projected rents $625-...