All Forum Posts by: Brandon Ingegneri

I will be going on 11 years soon.  

Thank you again @Dmitriy Fomichenko. I will lay the field for you. For years, I contributed to a Roth IRA independently. I am no longer under the income threshold to continue to contribute. I currently max out an active 457 plan each year and will continue to do so until I retire in 2026. In 2026, I will begin collecting a pension. I would be interested in establishing other investment vehicles independently through my own business, separate and apart from my current employer.

Thank you @Dmitriy Fomichenko. Point of clarification. Would I be able to convert my 457 to a self directed IRA, excluding my Roth, or would I be unable to utilize the funds in the 457 entirely? From what I gathered, it sounds like the self directed IRA is the only course of action if I were looking to utilize this money. Please correct me if I misunderstood.

I have a local atty that I could refer you to in ri.  If interested, please pm me.

Welcome aboard Nate.  If I can be of any assistance, please feel free to reach out. 

I am aware of people utilizing self directed IRA's to invest. I have read here that people use their 401k's also. I personally know of someone who uses his pension plan from a private company to invest with. Here are my questions.

1. Am I able to use money from a 457 deferred comp plan and/or Roth IRA to invest?

2.  If so, what is needed to structure this?

Obviously I know that all money borrowed needs to go back into the plan, and I am assuming that the return on the money would also need to go back into the plans.  

3.  With regard to the 457, I am assuming that taxes would be paid on the money when I ultimately withdraw in retirement as would normally be the case if I were not touching it until retirement.  

4. With the Roth IRA, I would be looking to redeposit my returns. Given the fact that Roth money was invested post tax annually when I qualified, would I need to pay taxes on this money upon the sale of the property, or would this money grow tax free as would all other gains normally made in the Roth outside of a real estate transaction?

Still available? 

Price?

Availability for viewing if still available please?

It will be a percentage of whatever they collect each month typically. Hard to answer your question unless you get more specific regarding what the other income is. 

Typically, all of my rents get deposited into one account.  All quick turn around properties go into another account.  I take a percentage out of everything for taxes which goes into another account.  From my rents, I pay myself each month.  All remaining money accumulates in the main account from there and pays expenses, etc. It makes bookkeeping much easier if everything passes through one account

In total I have 4 main accounts that I use.  

1. Operating account

property taxes and cap ex are paid out of this account also.

2. Tax account (IRS, not property)

3. Flip money account

4. Security deposits  

I handle pest control in the property that needs it.  I have all clean, responsible tenants, but some properties have issues from time to time.  I have a local pest control company service 5 units for mice every month.  $125.