All Forum Posts by: Terry Koepp

@Katie Miller

I retired in March 2018 at the age of 57! I obtained my Engineering Degree in October 1986 and worked for Sandia Labs in Albuquerque NM for nearly 9 years, I will receive a small pension form them at the age of 65. In Jan 1996 I took a much higher paying job at Rockwell Collins in Cedar Rapids IA and worked there a little over 22 years. I receive a small pension from them as well as medical benefits. My wife Tracie and I raised 4 wonderful children and helped put 3 of them through college! My goal was to retire early and enjoy life while I was still able to to do so. My secret was to pay off all my debt while also saving 20+% of my income, which increased to 40+% once all my children where "off the payroll". This strategy allowed my wife to retire early in May 2016 (at the age of 56) to help take care of her aging parents. We sold our house in November of 2018 and put everything in storage for 8 months while we traveled all over the USA while trying to figure out where the next stage of life should begin. My goal was to send more money while being retired as you have much more free time to enjoy life! Our plan is working great, our small pensions and savings (401k, Roth IRA's, other) will more than cover our new lifestyle for more than 30+ years (according to all the retirement calculators we have used).

To further protect my retirement savings I currently am taking advantage of the historically low Federal Income tax rates and working to shift the majority of my taxable income into non taxable savings primary using the Roth IRA conversion option as well as a few other areas. This will make my savings immune from future tax increases as it's not a matter of if they will increase but when and how much based on the national debt of nearly $25T (and still rising)!!!

My advice to anyone who wants to retire early is to make a plan and stick to it to achieve your goals. I am currently looking to start investing in RE as my new retirement hobby. 

Ron,

Please send/post pictures and other details.

What did you pay for the property and what work have you done/started?

What price are you asking for this property?

Terry Koepp

I am looking for assistance with my Iowa Benton County Tax Lien, I need someone who is experienced in serving the owners the 90 redemption notice as I have a property that is ready for this stage in the process. 

Please reply if you know of someone who can assist with this task.

Terry

I too have been struggling with a spouse that is very skeptical about REI's and other alternative investments!! She is very nervous that we will be risking our hard earned life savings on a long shot so I am taking it slow and only using a very small portion of our overall savings for these efforts.

My patience seems to be paying off as she is becoming more comfortable with alternative investments. I also helps to show that your efforts are helping to achieve our shared goal of financial independence!

As I hope to make this my retirement "hobby" it is very important to have the full support and trust of my spouse!!!

Do you have any properties in the UP of Michigan? If so, please send me the details.

Terry

Claudia,

I am interested in properties in Upper Michigan (UP), prefer near the Marquette area.

Terry

I am looking To use my Roth IRA to invest in a company that flips houses, as a "hard money Lender".This company will give me a % per flip based on the amount I invest.

I am looking to set up a Seld Directed Roth IRA (SDRIRA) for this investment and would appreciate advise on what issues to avoid in type of transaction!!!

I hope to use the tax advantages of a Roth IRA to not pay any taxes on the returns on this investment, I would appreciate your input on this investment!

Do I need to set up a LLC or can this be accomplished by directly using a SDRIRA?

I know that all gains must be funneled back to the Roth IRA and wanted to use this as an means to not pay any capital gains taxes by using the ROTH IRS account.

Please help me to not make any mistakes in this investment.

Also I would appreciate any advice in which companies that I should consider for using as a the SDRIRA custodian and why they are the best choice!!!

Thanks in advance,

Terry

I am looking to invest into flipping houses (all the work being done by other people) using my Roth IRA as a self directed account and have a few questions:

1) What SDRIRA management company would be best for this type of investment (lowest fees and best service)?

2) My understanding is that as long as I return all the profits back into the Roth IRA I do not have to pay any capital gains tax (or any other tax), correct?

3) Can I combine Roth Accounts (such as my wife's and Mine) for this investment? (one of the investments gives higher returns based on the amount invested).

4) Are there any areas to watch out for that can cause issues with this type of investment?

Thanks,

Terry

Awesome information on SDIRA's!

I too would like to use my ROTH IRA to fund a flipping real estate business and take advantage of the ROTH IRA not taxable income umbrella.

Do these options also apply to a SD Roth IRA? Or does the ROTH IRA have other options?

Any suggestions on who to contact as experts in this field?

Thanks in advance,

Terry

I am looking at an investment company called THE RENFORD GROUP LLC, has anyone done business with them?

They claim to make large profit margins flipping houses, which they use investors money to fund and then give very good returns to investors. Almost sounds too good to be true!

I looking for feedback from anyone who has had (or currently is having) experiences with investing in THE RENFORD GROUP LLC.

Thanks in advance,

Terry