All Forum Posts by: Craig Lessler

My 457B plan is with the State of Arizona. Getting the plan modified would be difficult if not next to impossible.  So I am stuck with being limited to just any publicly traded stock, reit, bond, mutual funds, ETFs.

I could just buy Berkshire Hathaway stock or something which is likely to hold up and perform well over the long term.

I have a current 457B plan which I am permitted to self-direct through a brokerage account at Charles Schwab. However, I cannot roll it over to a self-directed IRA while I am still a State employee.

I have already taken advantage of the $50,000 max loan to invest in real estate.

I am allowed to invest in any stocks, funds, etfs, etc. that Charles Schwab sells. Ideally, I would want to use the money to invest in real estate, but My investment options are more limited than if I had a self-directed IRA.

I do not want to invest in stocks.  For the past year, a stock guru who regularly appears on Fox Business News has been buying and selling stocks and I have only netted a 1% gain.

Does anyone have any suggestions where I can invest my 457B plan monies short of withdrawing it and paying taxes?

I have 26 units in Phoenix which my property manager has been doing a good job managing.  If you want the contact information, please message me.

Thanks.  Do the $19,000 fix up cost to get the relinquished property for sale and the selling costs get added to the basis of the replacement property?

Hello everyone.  I am doing a 1031 Exchange and want to verify the portion of the gain which is taxable.

1. Relinquished property is being sold for $159,000.

2. Adjusted Basis is about $60,000.

3. Fix up expenses to sell the property are $19,000.

4. Cost of sale are $9,000.

5. Replacement Property is being bought for $123,000.

6. Closing costs for the replacement property are $4,000.

Please provide me with your ballpark estimate of the taxable portion of the capital gain.

Thanks.

Vera,

I contacted Bencho Aurora and decided not to go with them.  The property they showed to me was in a bad area which was going downhill. 

Craig 

Does anyone know a good portfolio lender in Pittsburgh for SFRs with competitive interest rates and fees?

I am willing to put 30% down and have excellent credit?

Thanks, Jim.

Does anyone know of portfolio lenders who will do cash out refinances on condo units in Phoenix at competitive rates and fees (75% LTV, excellent credit, verified income, strong cash flow)?

Thanks.  The capital loss carry forward is s long term capital loss from stocks.  If I can use the capital loss carry forward, then I can possibly afford to pay all cash for the replacement property by using the net cash proceeds from the sale and adding another $250K of cash.