All Forum Posts by: Ian Sinclair

@George Blower thanks. I sent you an email, would love to discuss further.

Question: If a property is $150k  and I only have $50k eligible funds in the 401k that can be moved, can I finance the remaining $100k easily or does that complicated?

Thank you very much!

Hey all,

Has anyone every started a real estate business with a full or partial rollover of their 401k?

I heard you can only do this with an S Corp startup but I want a series LLC.

Any advice would be greatly appreciated.

Thanks!

@Christopher Smith Thank You!

@David M. Thank You!

@Daniel Dietz Thank You!

@Michael Plaks Thank You!

@Chris Seveney never mind sir, I figured it out from listening to podcast 109.

A series LLC is as easy at tax time as an LLC and much more secure.

@Chris Seveney sorry I should have said Series LLC

So I made the decision to do an LLC already.

I want to protect my families home and assets and it’s likely just the best option for me.

So now I have a decision to make... LLC or SLLC...

I understand the benefits of LLC (limited protections and tax pass through). I also understand the the SLLC allows for higher levels of anonymity and a "sub" company for every property...

My question is relates to tax time. Assuming I am blessed enough to make it to 10 properties and 10 sub-companies, how does one handle the taxes?

Can I still do a married filing jointly tax return and include the finances of all 10 companies?

Thank you all, I appreciate the lesson...

Ian