All Forum Posts by: Robert Naucke Jr

Have any of you made an online application for potential tenants?

If so, how did you go about doing so?

Thanks!

How long has the current property manager been in place?

Are you willing to owner finance any portion of the sale?

When setting up our Solo401k, I read I needed to keep all monies separate, My rollovers, My wife's Rollovers, My contributions, etc.

So I currently have two accounts, My rollovers ($92,xxx) and my wife's rollovers ($2,7xxx).

My question is, do I now need a third account for doing the actual purchases?

I won an auction.com house, so I am going to be using the Solo401k to purchase it.

When setting up our Solo401k, I read I needed to keep all monies separate, My rollovers, My wife's Rollovers, My contributions, etc.

So I currently have two accounts, My rollovers ($92,xxx) and my wife's rollovers ($2,7xxx).

My question is, do I now need a third account for doing the actual purchases?

I won an auction.com house today, so I am going to be using the Solo401k to purchase it.

I have a commercial building sitting vacant on a MHP I just purchased. It used to be a laundromat, but has been closed for several years. The rear of the building is a 2 bedroom apartment. I was contacted today by a gentleman wanting to lease the laundromat building. He did not want to tell me what business he wanted to start, because he didn’t want me taking his idea for myself. Is this normal in the commercial industry? How do you protect your building from being used for something you would not approve of, or that would be frowned upon by neighboring businesses? Do I put something in the lease agreement that states I can back out if I don’t approve of the business?

Thanks George, Dmitry pointed me in the right direction. He is my Solo401k provider and PM’d me.

Are there any other things I need to know about this process of using leverage along with my solo401k. I’m looking at a duplex, is there anything my bank needs to know to protect me from any tax implications? I plan on putting 40-50% down and borrowing the rest (non-recourse). All expenses and incomes will just be through the trusts bank account. Am I missing anything?

Sorry for the one paragraph, I had spaces in my post, not sure where they went.

How do you get around this government implemented hurdle? I have recently started a solo401k, so I have 83,000 sitting there that I would like to invest. I would like to use one of the online platforms like crowdstreet, patch of land, or one of the others......but they only allow accredited investors correct? Also I know it is against SEC regs for people to ask “strangers” when raising money to invest, but is it ok for me to reach out to strangers if I’m interested in investing with them? Also, I believe you can raise funds from friends and family without them being accredited, if I’m FB friends with someone would that make it ok for them to use my $? PS, this accredited threshold is way to high!!!!!

Charlie MacPherson thanks, we will be using this strategy on a different property tomorrow. My agent has never used an escalation clause before. Where should I tell her to add this clause, and I’m going to use the exact wording you used (but $500 instead of $1,000).