All Forum Posts by: Tyler Hogan

My father set up a solo 401k in which he owns a paid for duplex. No mortgage. We’re trying to figure out how we can get access to capital that we can use to purchase more real estate outside of the solo 401k without pulling money out of the 401k and paying taxes. Is it possible to get a HELOC on a paid for property that is owned by the solo 401k and then use that HELOC to purchase properties outside of a retirement account?

@Saumon Elhaie I’m not familiar with the Elgin market, but I do know that Killeen and Temple are pretty hot right now. They’re pretty close to each other, but Killeen is closer to the army base (ft hood) and it’s also known to be “not as nice” of an area. It’s getting better, but I would choose temple any day if the return is similar and you can afford either option. It’s closer to Austin, so appreciation will probably be better. You’ll probably have better tenants there and less risk of a soldier getting out of contract if they get deployed.

Ive never worked with a wholesaler. Can you make lower offers if you don’t think it’s worth the asking price? Any additional advice would be appreciated. Thanks!

Michael, I know this isn’t answering your question but how do you get in touch with people like that? Just curious how you were approached by someone with this proposal.

Originally posted by @Aaron K.:

With only one duplex your taxes probably aren't that complicated, as long as you take your depreciation and expenses related to the property there aren't really other "secret" deductions you can get, any accountant that knows about rental properties will be perfectly adequate if you don't want to do your taxes yourself.

Thanks for the response. I guess I am more so interested in how I can best allocate my income and reduce the taxes on my W2 job, while steering me in the best direction to achieve my real estate investing goals.

Hi there. I am new to real estate investing (just purchased 1st duplex cash with a partner) and am looking for guidance on how I can save the most in taxes and the right path to achieve my investing goals. 

I heard about Wealthability through a podcast, but after searching the forums on here I saw a lot of negative comments about the high cost and bad experiences dealing with that firm. I am looking for suggestions for a similar service that someone has had a good experience with.

Thanks in advance!

I work a full time day job and am looking to build a portfolio over the next 10 years. I am new to real estate investing and realize that there is A LOT to learn about taxes. I have 1 duplex that was just purchased with a partner. Looking for best advice on how to save on taxes now and the best way to proceed with my investing. I heard about Wealthability which seems offer what I’m looking for, but saw a lot of negative comments about the high cost and service. Does anyone know of a similar service that they had a good experience with?