Account Closed
Newbie here and plan to start soon. Questions about 401k and equity.
Hello! My husband and I are learning how to invest our money into real estate. Right now we have about $5k in equity in our home, and $17k in 401k. Great credit, we have also been approved for an investment loan. My f...
Neil Copeland
Bank or Brokerage Account
This is about the best place I can find, and here is my question. Once I open my Solo 401k, can anyone recommend a bank or brokerage house to open an account? I have a desire to invest in the stock market, with the ...
Nicholas Varner
Unlimited Passive Losses as a Real Estate Professional
In my last post of 2015, Top 5 Reason to Buy Real Estate Not Named Cash Flow I brought up some reasons that investors may consider real estate a potentially sound investment due to other reasons than cash flow. Before...
William Gillette
Driving for Dollars "How to find a banks contact info"
While out driving for dollars I located a property that appeared to have been vacant for a few years. It took sometime but I finally tracked down the owner. After talking with her she informed me that the property was...
Ben Bakhshi
Why do people offer seller financing when rents are 2x higher than the payments?
We are approaching some deals that offer owner financing.
As an investor these deals make a lot of sense for buy and hold.
Terms like, 20% down, (prime plus 4.75) 8% interest at 30 year amortization, and interest rat...
Jim Stanley
Place to find quick education on self directed ira?
I’ve done a few searches and couldn’t find any single place to educate myself.Suggestions?Background:I received a “rollover ira” from my current employer in the form of a check sent to fidelity investments. I want t...
Alex Shaughnessy
My wife is opening home daycare
Good morning. Here is my situation.I am a w2 employee. All of our insurance/retirement is tied up w/in my job. My wife does not like her job and is making the leap to open an in home daycare as soon as our new house i...
Vilson Nikollaj
Is there a tax deduction for defaulted loan interest not-paid?
Moving this post to tax forum... Think answer is no, can't claim unpaid interest on 1099-C, but @paresh patel brings up good point about what hte Box 3 pertains to. Anyone know what the purpose of this is?But if Inter...
Tyler Gilpin
What state should I set up my LLC in?
I’m currently working in Ohio for the next 4-12 months. I’m from NC, and plan on moving back. I have 3 rentals, one in NC and two in IL.
I plan on purchasing more rentals in both IL and NC, and possibly even OH. Doe...
Josh Atchison
401k loan for real estate.
I am going to take a loan of $25,000 out of my 401k for a house hack. My wife’s student loan is an income based repayment plan. As I pay my 401k loan back, will this in anyway help lower the loan payment?