All Forum Posts by: Kin Lay

@Ian E. how much did you pay and what's the rent? Thanks!

@Jessie Griffin can you let me know which company you plan to do the SD Roth IRA with?

I actually just received my master of science in accounting, but just not in tax focus.

@Dmitriy Fomichenko Do you know if self direct Roth IRA can check out loans from 401K? Let's say I acquired the property from the tax lien I purchased because the owner didn't pay my tax lien. My SD Roth IRA only has $5000 and not enough money to pay all the closing fee or rehab expense. Let's assume I need $30K to complete closing and rehab and my 401K has that amount. Can I check out a loan from 401K for my SD Roth IRA?

@Jessie Griffin Do you open an Self-directed Roth IRA (SD Roth IRA) as well, similar to many people here on BP?

I am kind of thinking of putting tax lien investment in (SD Roth IRA) and use my regular income to purchase a rental property since interest rate is still low. My criteria for that property would be 2% rent to price ratio and anything below $30K. I think I can borrow a small amount of money from my parents to cover this budget. What do you think?

Atlanta, GA, South Carolina, or Florida are great tax lien and tax deed sale states, this article actually add 3 more states to my list: Arizona, Iowa, and New Jersey.

@Scott Carson Thank you for the follow up. I am new to this. Why is 2 weeks vs 48 hours affect the fee? Can you give detail to that?

What is checkbook control?

Has anyone else invest in Morris Invest? Can anyone provide the street name of the investment property, rehab company name, and property management name? I want to research it to see if it's legit. I found this article and it seems troubling to invest in Indianapolis. What do you guys think?

@Bob E. Is that in Arizona?

Las Vegas has been cheap during the last few years. I missed the opportunity now and has to wait until the next recession.

This is not tax lien sale right? It sounds to me like tax deed sale.

@Rick Johnson Thank you for the list. It's kind of long haha. If we talk about stock here. I would use Robinhood for regular stock trade because it's $0 commission and $0 fixed cost for each buy and sell of stock. I would use TD Ameritrade / Charles Schwab for pennies stock because Robinhood does not support OTC penny stock trading and TD Ameritrade and Charles Schwab are the lowest cost for buy and sell stock. What is the equivalent of that for SD Roth IRA service company?

@Scott Carson Thanks for your recommendation. Cost is my number 1 concern and service is second. I still have 34/35 years to go if I assume I will retire at age 65 (which I hope not), so it has to make financing sense for me. Have you shop around before you make the decision for Quest IRA or it's because that company locates in Houston (I just did some research), which is the closest available to you? There are some negative feedback in yelp and I am concerned.

@Dmitriy Fomichenko Thanks. I saw another of your post saying that if you work for existing employer and have a side business, you can have both 401K and Solo 401K as long as total is 18,000 (for 2016). If my side business produce only profit of $500, can I contribute $1000 to 401K and $17,000 to Solo 401K? Or I can only do $17,500 with 401K and $500 with Solo 401K?

Also, fidelity charges no fee for solo 401K right?