All Forum Posts by: Will C.

 @Philip Barr thank you for your insightful response!

I hope it will be a long time from now, but I and 2 other siblings are the beneficiaries of a SDIRA (non-Roth) that primarily owns a 300+ acre timberland tract in Virginia with some cash reserves in the account. Looking for anyone who has experience dealing with an inherited SDIRA which owns real estate, even better if multiple beneficiaries involved. Or maybe you currently have an SDIRA with real estate and have a plan laid out for the beneficiaries.

Our Goal: We will want to keep the property as it is income producing from timber sales over the long term. So, trying to get a game plan together to best navigate this transaction when the time comes.

1. Are there any strategic moves that our parent and us should consider now before the SDIRA is inherited?

2. Once inherited, I realize RMDs will later kick in if the SDIRA is maintained since not Roth. Did you ensure to always have enough cash in SDIRA account to pay RMDs or did you perform "in-kind" distributions? When timber is cut, can leave some cash in account but would like to take some distribution from proceeds. 

3. What other options are available, move the property out of the SDIRA, into a trust or other entity?

Anything else to consider or avoid? 

I realize there are a lot of factors involved, just trying to get some general insight and figured I would reach out in BP. We plan to inquire with professionals for our particular case. TYIA!

Actively seeking recommendations for reputable property management companies who service both SF metro area and East Bay. The portfolio consists of 161 units across 5 properties, see additional details below. Looking for one boutique PM to manage all properties and be able to effectively communicate with managing partner(s) of a trust. Properties are currently mis-managed and have some ongoing maintenance issues, so it is time to break ties with current PM. Must utilize modern PM tools with successful service history and have strong vendor ties.

• SF (95% avg occupancy)
  • Bush St near Union Sq, 1 property with 37 units
•       Washington St near Alta Plaza Park, 1 property with 68 units
• East Bay (96% avg occupancy)
  
  • San Leandro, 1 property with 20 units
•       South Hayward, 1 property with 22 units
•       North Hayward, 1 property with 6 units

First thought would be lease for hunting or some sort of outdoor activities (camping...). Otherwise sell to invest in residential rental

Hi Shanisse, can you describe your property. Is it open land/farmland, wooded, etc? 

Thanks Nicky for this post. This cements the info the SBA rep told me on the phone about what is supposed to happen post-1k advance. Credit pull>email to set up web portal>verify id>review and sign docs

just waiting for my email and credit pull now.

Michael, when did you first apply for the advance? I applied somewhere around March 31, received the 1k but have yet to have my credit pulled or receive an email to set up online portal for the loan. Thanks

Have anyone that has received the advance been contacted about the next steps of the loan process? 

Derrick, have you been contacted yet or received information as to the loan itself?

Hello everyone, I applied 3/31 as a 0 employee applicant. I received the 1k advance on 4/22. My assumptionis that the next steps would be that a LO would reach out to continue the process of the actual EIDL loan application. Has anyone moved on to the "next" steps as far as the EIDL goes?