All Forum Posts by: Robyn Gersh

@Brian Eastman thanks Brian.

@Brian Eastman

I was able to buy my last flip as 40% owner to my LLC and 60% to my 401k. I close on Friday and 40% goes back to the LLC which I will pay taxes on and 60% back to 401k.

@Andy Becker hi ... I will pm you tomorrow

How does it work if I were to buy a property partially with my 401k and the other part with a loan from a bank. For example if the property was $600k. The down payment would be $120k. So I could take a portion from my 401k and a portion from my business LLC account. Say $60k from LLC and $60k from 401k. Would it be possible to do this and a portion of the rent would go back into the 401k and a portion into a business account? I am looking to create an income stream as well as plan for retirement.

The contractor I hired has commercial general liability insurance. Does that cover the contractor running off with my money and no work was performed. I gave him a check to start the labor as well as a check for the material he was providing.

Is there a way to 1099 a contractor without having their SS# or EIN#

@Stefan Carlson No I can’t. I spoke to the city last week. I need to remove him and a new electrician will need to pull the permit.

@Matthew Paul I was gonna remove him from the permit

@Matthew Paul I am paying the electrician directly. I never had a contract with the electrician. Since there was no contract I wanted to see if he was able to put a lien on the property.

@Wayne Brooks Also can I go after him? I have to take the contractor to court who hired him. It’s been a nightmare from day 1.