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-...
Charles G.
Kiyosaki Why the rich are getting richer tax ?
Currently reading Why the rich are getting richer by Kiyosaki and for the record enjoying it just as much as his other books that I have done.In Chapter 14 he gives the example of Mary a 40yr old W2 earner of 100K pay...
James McCarthy
401k Hardship Withdrawal Under Coronavirus Cares Act
I've been practically day trading in my 401K to reduce the losses from this mess, moving funds back and forth between stable value to stocks a few times a week. So far it has been working very well but one of my trade...
Bob Jones
Need help figuring out how my business partner will be taxed.
Hi,I have a business partner who has provided money to my LLC, which I will use to invest in real estate. The agreement is that I will do the work and give them a percentage of the profits. I'm trying to figure out ho...
Thomas Larsen
Claiming exempt on W4 job to save
I'm trying to save up enough money to pay cash on my first brrrr property. I have been saving about a $1500 a week at my job but I'm also paying about $1300 in taxes each week. My thought is if I claim exempt on my ta...
DL Martin
457b to SD IRA (real estate) ?
So I discovered that I have two 457b accounts (from a prior job that I had) that combined equal $30,000.
I turn 50 in October and can withdraw the money without penalty and simply pay the tax at my normal income tax...
Dustin Faeth
Investing with Self Directed Retirement Account Funds
If I have personal retirement funds in a self directed IRA right now, what options do I have for investing this in real estate? And can I use this money to invest in real estate for my own business (to fund rehab cos...
Daniel Thomas
Cashing out 401k to invest in RE
Has anyone cashed out their 401k to try and get a greater return on their money and use the proceeds to invest in RE? I have contemplated doing this.
Mary Jay
What is the best entity to hold real estate- taxation wise?
Hey guys, Could you please help me out?Lets say I have one paid off property, if I put it into a trust- taxes seem pretty high...So its a no go...1) If I put it into a one member LLC then taxes are paid by the LLC own...
Mark Hu
tax impound account abuse?
Our lender is impounding money for our property tax bill on our new condo. I've been checking up on them, and was recently astounded when they told us they would not be paying our supplemental tax bill (the difference...