All Forum Posts by: Mark Welp

PM Title in Grove City. They are great!

Nick C. This is a personal decision for each person. As long as one understands the potential tax and penalties, then it is not a bad idea. I have done it. Everybody has their own opinion, but I would not put a rental property inside an ira. Rental properties are tax shelters with depreciation. Can’t take depreciation and hard to use debt inside an ira.

Adam Harward I live in Columbus and like Columbus and Cleveland. Let me know if you need any assistance and I can direct you to the right people. Thanks!

Price Paramore I used iPlan as I have a person in my network that recommended iplan. They always answer the phone. What kind of assets are you going to invest’s in? Thanks.

Derek Rocco I am going against some self directed plan administrators, but it is not a great tax planning idea to put physical real estate inside an ira. You are putting a tax shelter inside a tax shelter. It is very hard to use leverage inside an ira (which is a great benefit of real estate) and you cannot take depreciation inside an ira. Buy notes inside an ira. Thanks!

All,

Does anyone know of any breakfast or lunch real estate investor meetups in the area?

I have trouble attending the evening ones.  Thanks!

Douglas Mack are you looking for a CPA in Columbus or Florida? My firm is in Grandview Yard in case you ever wanted to stop by and chat. Thanks,

Jaison Emmanuel I actually went with a different provider, iPlanGroup in Cleveland who have been to work with. Thanks,

Jim, Late to the post. But I agree with you. 529s are so restrictive. Because of that I am looking into whole life insurance with high cash value. Money is all still tax free and not restrictive. Thanks,

@Jason DelCollo I am currently looking at and have been reading about Whole Life Policies for about 2 months and I am about to get a policy started very soon.  I like the liquidity, control, tax deferral, and the ability to borrow for such things as real estate.  You just have to make sure you are talking to the correct agent to structure a high cash value policy so your fees and costs are minimized to the insurance cost so the majority of you annual contribution are going to the cash value part.  PM me and I will share his contact info.  He explains things very well and is not a pushy sales person.  Thanks,