All Forum Posts by: Trent Reeve
Trent Reeve has started 26 posts and replied 579 times.
Post: Self-directed IRA investment
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @Jeffrey Dixon:
Quote from @Trent Reeve:
Quote from @Jeffrey Dixon:
Quote from @Trent Reeve:
Quote from @John Underwood:
Yes I do.
I have a solo 401k Roth - no custodian required
I have a self directed IRA with checkbook control - also a ROTH.
Both own multiple LTR houses.
Be aware that if you buy a STR in your SDIRA you can never stay in it or work on it while your IRA owns it.
you cant stay in it even if you pay normal rates? and from what i understand, you can self manage these days
You cannot stay in the property even if you pay rent. Nor can you do any work on the property.
yes, i knew the work part. just wanted to understand the staying in it even if paying full price. not a deal breaker for me, just need to figure out where to roll my money into to use it
The IRS says you cannot get personal benefit from the investments. They classify staying in the property as getting personal benefit.
i get that, if you stayed with for no rent or discounted. staying at full price is different in my eyes, but as i said, it isnt a deal breaker for me
Post: Self-directed IRA investment
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @Jeffrey Dixon:
Quote from @Trent Reeve:
Quote from @John Underwood:
Yes I do.
I have a solo 401k Roth - no custodian required
I have a self directed IRA with checkbook control - also a ROTH.
Both own multiple LTR houses.
Be aware that if you buy a STR in your SDIRA you can never stay in it or work on it while your IRA owns it.
you cant stay in it even if you pay normal rates? and from what i understand, you can self manage these days
You cannot stay in the property even if you pay rent. Nor can you do any work on the property.
yes, i knew the work part. just wanted to understand the staying in it even if paying full price. not a deal breaker for me, just need to figure out where to roll my money into to use it
Post: Self-directed IRA investment
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @John Underwood:
Forge Trust is my custodian for the self directed IRA with checkbook control.
Be aware of possible UBIT tax if you use leverage for the purchase any property.
Post: Self-directed IRA investment
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @John Underwood:
Forge Trust is my custodian for the self directed IRA with checkbook control.
Be aware of possible UBIT tax if you use leverage for the purchase any property.
right now just looking to purchase 1 property with it to make rental income and get paid off.
Post: Self-directed IRA investment
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @John Underwood:
Yes I do.
I have a solo 401k Roth - no custodian required
I have a self directed IRA with checkbook control - also a ROTH.
Both own multiple LTR houses.
Be aware that if you buy a STR in your SDIRA you can never stay in it or work on it while your IRA owns it.
you cant stay in it even if you pay normal rates? and from what i understand, you can self manage these days
Post: Self-directed IRA investment
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
anyone use SDIRA for investing? and if so, where did you find the custodian for the account?
Post: Innovative ways to increase bookings
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
can you add a firepit to the back yard?
Post: Airbnb Guest Refuses to Leave or Pay Rent for 540 Days
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
apparently this guest did it before on another property.
Post: What to do if renter brought dog to no pet listing
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @Michael Baum:
Personally I would charge them 1/2 of the deposit for cleaning. $250.
Going off what @Russell Brazil said, it has to be a registered service animal, not an emotional support animal.
service animals in most states are not required to be registered. thats what makes it so hard in these situations.
Post: What to do if renter brought dog to no pet listing
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
we have dogs ourselves and are dog friendly at 1 property. Even then, we have people that dont add a dog to their reservation. I would say that you are aware they have a dog with them, but that it was not on the reservation and hear what they say. They may try to go the service dog route, or they may say they thought they had added a dog when they booked. Depending on what you are willing to do, personally i would say something like, we do not normally allow pets but understand that you have already checked in, and then say you would charge $100 pet fee for cleaning purposes.