Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Justin Windham

Justin Windham has started 9 posts and replied 4068 times.

Post: Newbie Rental Investment Questions

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419

Welcome to BP, @Kim Rose! The rental and housing market is an interesting one here in Colorado right now. I wish you all the best. By the way, I'm sorry to hear about your landlord experience. Did your lawyer talk to you about treble damages in connection with the landlord withholding the security deposit unjustly? Just a thought. Again, welcome!

Post: New Member Saying Hi from New Mexico!

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419

Welcome to BP!

Post: IRA

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419

Self-directed IRAs can be great structures for those who are not eligible for a Solo 401k. If you have self-employment activity, but no full time employees, you may want to consider the Solo 401k instead of the IRA LLC.

Post: Dividing Land to Purchase Half w/ IRA, Half w/ Personal Cash

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419

You can explore your options for having the property divided or the JV / tenants-in-common scenario.

Post: I Don't Need a Custodian nor LLC for a Self-Directed Solo 401k?

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419

 @William DeHaan, Jay is correct. The bank you choose to open a checking account for your 401k trust is not the custodian. Although some custodians do open Solo 401ks, with a 401k there is no custodial requirement. In the typical setup where you have checkbook control of your 401k, there is no custodian involved and this can save you quite a bit of time and money in the long run.

Post: Been considering a Solo 401k?

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419

Thanks, Mark!

Post: Been considering a Solo 401k?

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419

A Solo 401k can be a powerful savings and investment tool. But is it right for you?

Hi, my name is Justin Windham. I am the owner of Discount Solo 401k. We specialize in creating self-directed checkbook control 401k plans that can invest retirement funds directly into real estate, among other assets.

I've been creating self-directed retirement accounts since 2003 and the checkbook Solo 401k is the best of the best. If you've been considering a Solo 401k, but don't want to pay big upfront fees we can help. We have low setup fees and options to get started with your plan for as little as $50 upfront. If you'd like to learn more about how the Solo 401k might benefit you, I'm here to help.

For more information, feel free to give us a call, email, or visit our website:

Phone: 800-716-1970
Email: [email protected]
Website: www.discountsolo401k.com

Post: Best Return

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419

@Jesse Waters We're visiting my mother-in-law in Walhalla (near Clemson). We're having a great time. Before this, my only exposure to SC was Myrtle Beach.

Post: Best Return

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419
@Jesse Waters

Jesse, I'm in SC visiting family. The market seems much different here than in Denver. :)
Did you start off with a property manager or did/do you manage your own properties?

Post: Would you rent to unemployed couple with 6 months prepaid rent???

Justin Windham
Posted
  • Banker
  • Nationwide
  • Posts 4,180
  • Votes 1,419
Originally posted by @Wendell De Guzman:

Since this is in Cook county - which is very TENANT-FRIENDLY, then do NOT do the deal. It could take you 6 months to evict a tenant there - specially if the tenant you happen to rent to is a professional tenant. These people know how the system works and what to tell the judges to get them to live rent-free.

 This is a scary thought. Although it may be tempting to take such a large pre-pay and to help someone out, ultimately this is your business. Hopefully you have some other options that present less risk than renting to these tenants.