All Forum Posts by: J Zev J.

@Tim Brown - Try contacting some brokers in that area and they should be able to help get you the cap rates. 

@Stephen Craul - The SDIRA debt has to be non-recourse. A personal guarantee would be recourse and therefore not allowed. 

@Raymond Macasaet - I find a reliable property manager with whom I'll have a long term relationship with and have them manage/verify the contractor's work. 

@Alberto Vargas - The best way not to commingle is to not pay personal expenses out of your LLC bank account. Also, don't deposit personal income into the LLC bank account. So if you want to pay business expenses and the money you need to do that is in your personal account, you can transfer from your personal account to you business account and then pay the business expenses from the business account.

It's sometimes difficult to find a CPA who both specializes in real estate and is located close to you in Kansas City.

There are lots of good CPAs and Enrolled Agents on Bigger Pockets who work remotely and have clients all over the country. You can just reach out to them and determine which one fits your needs the best.

@Matt Cox - Your CPA can fill out the POA form and then submit it to the IRS. Because of covid, it's taking them up to two weeks to get it registered through the fax; or your CPA can call them and fax the POA to them while on the phone with the IRS. That's the quickest way. The practitioner service line is (866) 860-4259.

@Derek Schetselaar - No worries. To answer your question, just having your re license won't help fulfill the requirements. To be a real estate professional, you must provide more than one-half of your total personal services in real property trades or businesses in which you materially participate and perform more than 750 hours of services during the tax year. The mortgage brokering/lending services won't qualify for those 750 hours and, unfortunately, just having the re license won't get you the 750 hours. 

@Jason Vandermark - thank you, that makes sense now. 

@Shoshana Shulman - there is a calculator on TreasuryDirect to estimate the future value of the bonds. It's only an estimate because although the Series I Bond's fixed rate remains the same throughout the bond's life, the semiannual inflation rate can vary. Also, don't forget that the interest income is taxable. 

@Matt Cox - It sounds like your transcripts should be available. You can hire any CPA to get a power of attorney on file with the IRS and pull the transcripts for you. Also, CPAs get to use the practitioner's priority service line and can get through to an IRS agent easier than civilian taxpayers. 

@Derek Schetselaar - I believe the tax court cases rule that a "mortgage guy" doesn't qualify as a "real estate professional".