All Forum Posts by: Mike Reynolds

@Mark Nolan OK I get it now. That's the IRA/401k to start a business. I never really researched that option as I didn't think it would apply to me. Thanks I'll look into it more.

@Mark Nolan  Mark, I have never heard of a ROBS 401k. What is that exactly. I am in a similar but different boat. The guy I work for will sell one company and start another. I am going to the new company but once I get officially "laid off" I want to combine my 401k with my IRAs and invest. I am a carpenter and could do most of the work myself but in an SDIRA thats prohibited so just trying to find the right solution for me.

@Matthew Carducci Sorry Matthew, I just got this note as I have been busy. I will send a friends request and contact info. I can then text you what you need.  

@Tammy Mitchell. Hello Tammy. Like the others here I am planning on investing this spring also. I will be combining some IRA and 401ks into an SDIRA around the first of the year. I have been a contractor or in construction all of my life so if I can help in that regard just let me know. I have an almost endless number of subs in my phone that work with me.

@Emily Hakala. Emily, the guy I work for now has had me working the New Braunfels area for the last few years. If I can help with anything just let me know. Mostly subs that are awesome but will work cheaper than most. The RE stuff you may have to defer to someone else though as that's not something I am comfortable with yet. That area is really booming there now. Good choice.

I would add this also. There are many neighborhoods in my small town that list rent at 1200-1400 but there are some right next to those that rent for 900. Don't scrimp on the cosmetics and you can be assured of the higher rent. That doesn't mean you have to spend mucho mullah either. Just be careful of your dollars spent.  

I was a contractor here in Texas and when you say watering a slab I think about the curing process. Is that what you mean? Concrete will increase its strength greatly in the first seven days after it is poured. Most concrete contractors will do it all in one day. Commercial specs sometimes call for water curing for three to seven days. A water cured slab for seven days will be 50% stronger than without water curing. If you water cure for only three days it will give you 80% of that strength of the seven day cure. With shedules being tight almost always most opt for the three day cure.

@Ken Badziak I have actually been thinking about transferring the IRA into the ROTH. The ole' proverbial Band-Aid thingy. It might be the best thing after all. haven't vetted the entire process yet but I am looking for help in that respect.

@Ken Badziak Thanks for that info. I have worked in Fl. as a government and private contractor so I know the prices there. Or at least West Palm Beach and Miami that is. But here I can build a 1200 sq foot house for 50k. Now that doesn't include profit and OH but if it is for an IRA it might be feasible. I am a contractor though with my own crew so there is that also.

I guess I have reservations and much novice skills about SDIRA's but I know I can builds for less than most here anyway. Just looking to find out whats best for me.

I have a discounted building supply store In my area. The thing I look for is real wood on the cabinet faces. I have even taken  a remodel for  solid hardwood faces and built solid wood cabinets behind them. I am a master carpenter but its not an expert thing to do. Most intermediate tradesman can build the cases. IF you have the time that is.

Anyway, if they have solid wood fronts they will likely last 20 years or more. If they don't have them then it wont be a good thing. We don't have an IKEA within two hours of here so I cant comment on those specially.  

@Ken Badziak But if you have more to invest would it be better to buy real estate with an SDIRA? I know that sounds like a simple question but I am laid off in November (boss selling company) with my 401k and have an IRA as well as a roth Ira. Is there a way to combine both in separate IRA's but same properties? I want to max out my ROTH and use the SDIRA to "cover" the rest so my ROTH builds a little faster.