All Forum Posts by: Jacqueline Gardiner

When your partners contribute $500K for improvements, there will need to be an adjustment made to the capital accounts. You would no longer own 30%, but you would then own 20% of a property with a $1.5M value (which I believe should still satisfy the requirement to invest 100% of your proceeds). 

@Joshua Farley @Raza Rizvi Did either of you set up your own fund? If so, how is that working out? If not, did you find a syndicated QOF to invest in? Thanks so much. 

Thank you so much for your thorough response, @Albert Hepp! 

@DiJuan H. What do you mean about listing it on the "right MLS" for your area? I thought there was just one system. I am considering doing a FSBO for a house in northern Nevada and had found a flat fee MLS service from a broker based down in Las Vegas. Is there any chance that wouldn't be the "right MLS"?

If you decide that you want a Solo-401K plan that you can use to invest in real estate directly, one option is MySolo401K which you can easily find on the internet. I have had an acct with them for about 3 years which has been mostly a positive experience. I believe the initial cost was $750 to set it up and then $125/year. 

@Tien Ly Yes, it is a STNL property. The sponsor is no longer involved. Once the deal closes, it's up to the TIC owners to work with each other to make decisions. That was my biggest concern going in, but in retrospect, I should have been much more concerned with other aspects of the deal.

I concur. Not worth the hassle. 

I wanted to chime in and say that I would no longer recommend Rockwell. One of the two investments that I made with them has gone south because the tenant has filed bankruptcy. The general consensus is that we overpaid for the property based on inflated rent rates and so we don't have any desirable exit strategy.

@Mark Waite Are there any condominium complexes over there that are being run more like hotel resorts with one manager for the entire complex but offering investors the opportunity to buy a single unit? (Such as "The Grove" in Orlando)? I find the idea intriguing and Hawaii more appealing. 

Hi Todd, It sounds like you should probably get the opinion of a tax advisor. At some point, you're going to have to start taking money out of your 401K and paying income tax on that at the regular rates, so given that you've already got $3M there, it seems to me like it might be better to invest outside of your retirement account and take advantage of the depreciation to offset your other income. Congress is also working on legislation that will omit the opportunity for your heirs to "stretch" the income out over their lifetimes (for inherited IRAs and 401K plans), so that reduces the value of leaving retirement funds behind.