All Forum Posts by: Ben A

Solo 401k has been suggested so many times, here and in several threads as a way to have personal access to retirement funds.  But I have to wonder just how many folks here that have jobs (like the OP) with W2 as their main source of income, are *actually* doing it.  If there are, doesn't that make you red hot to IRS eyes when you are already participant to your jobs 401k plan, and at the same time has a "self-employed" 401k on the side?  Especially when the only thing you do that soloK is to borrow money!

As someone hits $150,000+ MAGI, rental losses no longer helps for non-RE professional. So in essence, you would actually want a 0 or slight positive in Schedule E as it can boost DTI calculations for another loan application. Am I saying this correctly? Is there a reason why a loss would still be preferrable? Thanks!

Thanks for recommendations @Wayne Brooks @Ana Adler

@Leslie Pappas I have plans on particular property that I'm going to purchase so this won't be an option for now; but thanks

Thanks @Dave Foster I'm certainly going to need to learn more about this plan.

I'm planning to sell a single family rental (5 yrs now) in CA and do 1031 exchange.

- At what point do I need to make the election to do 1031 exchange? How much time prior to sell?

- As I understand, part of the sale proceeds can also be used to rehab the exchange. Is this correct?  Is there a particular ratio of rehab money to total gain?

- Does the 180 days period still hold?  Is it 180 days from close of sale to close of new purchase, or to execution of new purchase?  What about the rehab time?

Thanks for any clarifications.

House hack.  Buy owner-occupied, rent other units.  Later on, move to another owner-occupied and leave behind your full "first rental" property.

Or just go beyond the mountains in the place called Palmdale. You can still find, especially in Lancaster, properties that beat the 1% rule.  Or move that money over to a niche market in your Long beach quest..

Since you intend to get loan for the property in your name, the LLC route likely won't work, unless you go to non-recourse lenders and have substantial amount in the fund to satisfy their requirements.

By the way, how do you intend to record your ownership in the property? Say, if your partner provides all the down payment and you get the loan.  via Land trust?

I'm a planning to do the same thing where my SDIRA would be most of the down payment source, and partner will get the loan.  Title will only be in his name, as he is technically the buyer and the lien is attached to his name.  So I'm trying to figure out how to legally put my SDIRA name somehow in the chain of records.

Hi Sara, the area can certainly cash flow for certain types of tenants. We have two rentals in Carson, cash flowing nicely. I know it's hard to believe. I am as well currently looking for another 4+ bed SFH or plexes in the cities bounded by Gardena, LB, Harbor City, and maybe San Pedro.

Thanks guys. I'll start with Bill and get a quote from him..

Hello Pittsburgh folks.  Do you have any carpet guy you can recommend?  If so, please PM me.

Also, I have a rental house in Avalon that I might consider selling and might need help in doing so, perhaps even to a point of partnership.  I can PM you the details if it interests you.