Quote:
Originally Posted by GregWeld
#1 Todd -- talk with someone qualified to answer your question -- I'm almost positive that PROPERTY is not allowed in a SEP/IRA/401 investment vehicle.
I own part of an apartment building in GWEN'S IRA -- and only because it is a partnership and LLC... and it's been absolute HELL to have it in there. Most institutions won't hold "private paper".... and because it's not a qualified investment - we have to file income taxes on it every year - and the taxes have to be paid out of the IRA -- and try to get that done... it's just a total PITA. To the point that last tax filing season I had a discussion with my accountant about just "buying the investment outta there"! Turns out - that can't be done either... 
RE: Market question
There is no way anyone can answer a question like that... it's just GUESSING. And or "market timing" - which doesn't work. The market - like housing - just goes up over TIME.... You'll never get in at the right time. The minute you're in the little man in wall street takes everything you bought straight down.  |
One of my best buddies is my advisor so he'll set me straight on the logistics. He'll tell me to leave it in there regardless. My thought is to use the money in a venue where I'm extremely experienced vs. a mutual fund that isn't performing, hasn't been performing, and I'm not sold will ever perform. Times change, the market has went up and down since I started investing, it's been a safe investment, not a retirement plan. Where else am I going to get 25% on my money? The compound effect hasn't come into play yet.
My only concern is putting to many eggs in one basket. I just consider low prices and low rates a genuine opportunity. I'm contracting a propert in a GOOD area of Vegas for 109,500. I can rent it for $1050 a month. The mortgage(PITI) is $612 a month. Cash flow $400 a month, principal reduction, and depreciation. Down the road I can realize the residual or 1031. The only fault I can find is if the **** really hits the fan.