All Forum Posts by: Janelle K. Eagle

Hey there! Since you tagged SLO, I am hoping you are considering the fabulous Cali Central Coast! If so - let’s chat. I’m a realtor and also a local investor and I have a preferred lender I can recommend that is extremely well known and respected in the area. No joke - my last buyer’s offer got accepted almost entirely because my lender was the one who sent the pre-approval letter. Let’s connect! #teamcali

Hey there! I’m a local realtor and investor myself- right near you in Los Osos - and a preferred agent with BP on the central coast. I specialize in working with investors in our market. Hit me up and let’s meet for coffee at Kreuzberg!

@Eric Braxton not sure if you are in left field - but we did not pay any interest on the loan from our 401k - but we did it directly through my wife's company which she still works for and who provides the 401k. Other providers may charge interest? Not sure on that.

Hi there, @Eric Braxton - which interest rate are you referring to? 

Happy to set up a call! 
In CA if the LLC does business here, meaning owning real estate, they will come after me for franchise taxes either way.

I'm working on setting up my business entities with a WY holding company that owns / operates a California LLC. A business advisor whom I am considering hiring to set up the entities for me has advised that there is no option to truly have an anonymous entity in California as they require the owner/operator's name in the formation documents. Does this completely negate the need for a WY holding company? How are other CA investors protecting their assets / making them anonymously held? TIA for your advice!

Hi @Eric Braxton - My wife and I used a 401k loan in order to make a 20% down payment on the purchase of our home. We borrowed about $40K and then were placed on a payment plan through her company to pay it back over time, something like $400 per month. We just recently decided to pay it all back after doing our taxes and making some money off a flip. Our CPA advised that the sooner we paid it back the better, as obviously the intention of a 401k is to have your money grow over time, and if you take money out, it's not growing! It was a nice SHORT TERM solution for us, but we only took the money out knowing that we had a strategy and the means to pay it back. Hope that helps! 

Thanks for the follow up @Jeff S.!!!

I'm in Osos and would be happy to connect. I'm repping other investors and just flipped an SFH as well. All local! Happy to learn more about how we can collaborate.

It was $3K for the WY trust and $1,500 per LLC - each of which is only single member. All were in CA and were to be owned by the WY holding company.