All Forum Posts by: Account Closed

Have any of you explored xeriscaping for a rental? The lawn at my rental looks half dead and there is no sprinkler system. Any thoughts? I looked at Pinterest, but I didn't find many good ideas for xeriscaping rentals.

I personally buy tax liens and notes with my self-directed individual 401k. I'm young so I like the higher contribution limits and the roth component. You may want to check out this chart that compares an IRA with a 401k.

I believe I figured it out. Before I hit 70, I'll just roll my roth 401K into a roth IRA if I don't want to take the required minimum distributions with a roth 401K.

According to the IRS, if you have a Roth 401K retirement account, you must take required minimum distributions no later than April 1 of the year after the calendar year in which you reach age 70 1/2, unless still working and not a 5% owner. 

1. What is the definition of still working? 20 hours per week? 40 hours per week? 5 hours per week? 1 hour per week?

2. What if you changed ownership of the LLC and listed a trust as a 96% owner (and you were listed as the beneficiary of the trust) and thus you only would own 4% of the business (LLC)? Would this work?

I really like the tax advantages of a self-directed roth 401K, but I do not like how I have to take required minimum distributions at age 70 1/2. I'm trying to figure out a clever way around that annoying factor.

Any advice or words of wisdom would be much appreciated!

Has anyone tried to buy Medicaid liens before?

Actually, according to the Division of Housing in the state of Colorado, any company or individual who sells any new or used manufactured home, that is not their own property, must register with the State of Colorado. There is a maximum of one personally-owned home per year that can be sold without requiring registration. I only know this to be true because I'm a licensed manufactured home dealer in Colorado.

Hi David,

Where did you go to learn how to set this up? How much do you receive from the government for each person? How many people can live in one bedroom? What's the minimum amount of services you need to provide to them?

Reid

I think most people operate these as non-profits.

I have heard of people setting up group homes and renting them out to ex-cons, people with down syndrome, and sex offenders. I'm not sure I'd be able to deal with sex offenders, but I do feel like I would be giving back to society by setting up group homes for ex-cons and people with mental challenges. Has anyone set up a group home before?

Has anyone heard of investing in residential treatment facilities (group homes)? These facilities would offer services to adults with disabilities like mental retardation or down syndrome. Supposedly, Medicaid reimbursements are quite high and you can put two people to a room. I read somewhere that the reimbursement for each person is something like 3K a month. However, this may be totally inaccurate. Does anyone own these and how do they work?