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All Forum Posts by: Daniel DiGiacomo

Daniel DiGiacomo has started 3 posts and replied 77 times.

Post: Am I on the right track?

Daniel DiGiacomoPosted
  • Rental Property Investor
  • Baltimore, MD
  • Posts 83
  • Votes 35

The only thing you're missing is finding a bunch of cash-buyers also interested in that market! I'm sure you are thinking of that, I just wanted to point out how many wholesalers seem to focus first of finding sellers... then can't preform quickly enough once they have a contract -- because they didn't spend as much time finding buyers. Best of luck to you!

Post: Can I Invest in My Own Business With 401K Money?

Daniel DiGiacomoPosted
  • Rental Property Investor
  • Baltimore, MD
  • Posts 83
  • Votes 35
Originally posted by @J Scott:
Originally posted by @Daniel DiGiacomo:
Tom, definitely need to talk to an expert. Google "Self Directed IRA Rollover" and find a reputable company... give them a call and find out what they can do. If they control the IRA and distribution, you are protected from accedintaly doing anything illegal.

Nope. It's not the responsibility of the SDIRA company to advise you of potential ERISA compliance issues.

For example, if you make an SDIRA loan to a disqualified family member, it's very unlikely the SDIRA company will know that's the case (or care). They'll disburse the money as you direct them to (hence the "self directed")...they won't vet your investments for you.

J, Thanks for the feedback! Pensco asks a lot of questions, but you're right, I can't imagine they would assume liability for my decisions.

Post: Gas furnace replacement costs

Daniel DiGiacomoPosted
  • Rental Property Investor
  • Baltimore, MD
  • Posts 83
  • Votes 35

For a 1,200 sq ft house I recently paid $900 for a furnace and installation this price did not include any alterations to gas lines or duct work.

Post: New from ATL!

Daniel DiGiacomoPosted
  • Rental Property Investor
  • Baltimore, MD
  • Posts 83
  • Votes 35

Hi and welcome to BP! Have a successful 2014!

Post: Can I Invest in My Own Business With 401K Money?

Daniel DiGiacomoPosted
  • Rental Property Investor
  • Baltimore, MD
  • Posts 83
  • Votes 35

Tom, definitely need to talk to an expert. Google "Self Directed IRA Rollover" and find a reputable company... give them a call and find out what they can do. If they control the IRA and distribution, you are protected from accedintaly doing anything illegal.

Post: Can I Invest in My Own Business With 401K Money?

Daniel DiGiacomoPosted
  • Rental Property Investor
  • Baltimore, MD
  • Posts 83
  • Votes 35

With a self-directed IRA, you can invest in real estate, stocks, mortgages, franchises, partnerships, precious metals, private equity and tax liens. You could roll over your 401K to an IRA and invest in real estate. I've used Pensco before (pensco.com).

Post: New to Bigger Pockets from Houston, TX!

Daniel DiGiacomoPosted
  • Rental Property Investor
  • Baltimore, MD
  • Posts 83
  • Votes 35

Muhammad, nice to meet you. Lets connect, I wholesale properties in Maryland, but have several Sugar Land contacts that are active investors. Maybe we can help each other.

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