All Forum Posts by: Demetri T.

I knew I was making it overly complicated.  It is always nice to just have someone spell it out for you... thanks.

I've got a commercial property we just refinanced, held in an LLC. Part of the result of the refinance was extra cash. My questions seems simple but it is just evading me. As I am entering the transaction in my bookkeeping software I can't figure out how to categorize the cash deposited back into my checking account, it sure doesn't seem like income to me... Thanks for your input.

There are so many posts here that I don't find myself asking to many questions...  This may be answered elsewhere but I am having trouble figuring out the thought process with it before I head to my CPA.  There is a lot of information out there so I guess I am just looking for some initial information- like a get started kind of thing.

I have been self employed for some time- I have a SIMPLE IRA. My wife has a traditional IRA and both are held at Vanguard. I am thinking of making these self directed- and using them to buy more property.

Does anyone know if I can use Vanguard for this?  

Is there a way to invest in the same property with my SIMPLE and my wife's traditional?

Is there a guide somewhere on BP to look into how to get started with this process?

When you say they are on a lease- does that mean they are on something like a year long lease or are they on a month to month agreement?

I am interested in how you resolve this.  Sounds like you just need to walk down the street to another agent- seems very workable.

Or even better-and rather simply- you invest that $750K you borrowed against your property not into $750K worth of additional property but you put it down on $1.5MM (or more!) in additional property- then you are the proud owner of $2.5MM in property will all the other benefits you and Greg Scott have discussed..

I use Ringcentral.com for my law firm.  It looks like it does all of the above and much much more.

If you want- PM and I will be able to send you a referral which helps both of us out!

Demetri

I do seem to have a LOT more denied applications and it takes about two weeks longer to fill a unit.  I have been able to find good tenants... Eventually.

But I'm not in Wisconsin! (Moving in the rain is bad but somehow the snow seems worse)

Bank Fraud does not sound like a good idea.

There are lots of ways to use a bank without committing fraud though! You can house hack or us the "BRRRR" method. Lots of ideas on the forums for just exactly these situations.