Closing dates on short salesWe finally got approved on a short sale but now are waiting on closing date but at the day before our offer was accepted they sent a Leo stating the bank was S witch lenders so now we have
No action on selling our homeOur home at 4294 Rainbow Lake is listed with ReMax and with Trulia. It is on a lake and has been listed for three months. Only three showings so far and one open house. The price was dropped
I have done it. You can do a direct rollover into a self-directed 401k and buy real estate, gold, silver, notes, do private lending etc., and not get penalized at all as long as all the profits go back into that account. If at any time you take money out of your 401k plan, you will be taxed on it as normal income, and if you are under 59 1/2 there is a 30% penalty as well. Definitely not worth doing that. However, if you want to build your retirement account up for when you do retire, get a self-directed 401k and invest in real estate. I have one and that and private lending (1st position only) is all I invest in. The stock market will crash within 8-12 months so only buy cash flowing real estate or fix and flip for a nice profit. Be very careful though because the real estate market will be crashing soon too.
The best way to have a self directed 401k plan is to roll your existing 401k plan into a QRP (qualified Retirement Plan) in the name of your business. That way YOU are 100% in control of your money and there are NO fees for anything, unlike other self-directed 401k plan companies will charge you. You need to have someone who knows what they are doing to open it for you. Unfortunately, most CPAs are clueless.
I opened mine through Michael Hawes, but there are other companies too. Good luck!... more