All Forum Posts by: Shadonna N.

@Matt N., can the judgement be sold for a percent of the value.  I spoke to an attorney in Baltimore about that.  You maybe able to get something.  Can you PM with the name of the attorney you used?

@Dan W. post your deal in the Marketplace.

Definitely a smart move.  Have someone pay for the home you plan to move into.  In 30 years there will be repairs/upgrades needed.  He needs to come up with a strategy to cover that work.

Thanks @Brian Eastman.  I was not sure due to their age but it sounds like SoloK is preferred over the SIDRA.

I know someone who is self employed and doing well while also maintaining a W2.  They are in their 60s and nearing retirement from the W2.  Does the SIDRA or SoloK make sense.  Can they roll funds in to the SoloK from another fund?  Are there required minimum distribution rules?

It's a good idea if all material sourcing, measurements, and delivery are included.

@Philip Rowe are you working for a management company now?

This guy purchased the properties in pre-grentrified DC in the 40's or 50's for like 40K.  No loans, no refi, none of that fancy stuff.  He has kept them up but no major renovations.  Maybe new heat, new hot water tanks.   He has sold other buildings that investors have converted to condos.  I don't think he has an emotional hold on the properties.  He probably wants to get of them before anything happens to avoid conflict among family members.  He is definitely tired of tenants.  Introducing him to a buttoned up financial guy may be too much.  Just trying to provide him an overview of options.   I have no skin in this but he complains about what he pays in taxes and I hate to see it.

  Ha!  What a problem to have!

@Dave Foster and @Kyle Kadish thanks so much.  This is great information.  The gentleman is in his 80s and getting sick.  His kids are not interested in the properties.  Is it possible for him to sell and take the $250K tax free and move the rest into the trust?  Also, is it possible for him pay the tax liability down without taking out the principal?