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Updated over 6 years ago on . Most recent reply

Eric K.'s profile image
Eric K.'s profile image
Eric K.
  • from S Shore, MA
  • Member since Jun 15, 2018
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Eric K.'s profile image
Eric K.'s profile image
Eric K.
  • from S Shore, MA
  • Member since Jun 15, 2018
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Eric K.
  • S Shore, MA
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Starting Out

Mostly liquid, but no income.. Where do I start?

Eric K.
  • S Shore, MA
Posted

So...I planned on starting a business but it isn't working out as planned and thinking of pivoting to real estate. I was laid off Jan 1 and received a nice severance, I cashed in both my 401k and my pension (yeah, I know) and I'm close to 190k liquid, but have no income.. Well unless you count Uber at 1k/week gross but I don't think banks really do!

So.. Where should I start? Should I try being a hard money lender? I'm not sure if that is enough in my local market. (Boston) I don't think I can purchase any real estate without a W2. Any suggestions welcome!

Eric

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Caleb Heimsoth's profile image
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Caleb Heimsoth
  • Rental Property Investor
  • from Durham, NC
  • Member since Oct 1, 2016
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Caleb Heimsoth's profile image
Caleb Heimsoth's profile image
Caleb Heimsoth
  • Rental Property Investor
  • from Durham, NC
  • Member since Oct 1, 2016
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
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@Eric K. Have you accounted for all the taxes and penalties cashing your 401k and pension are going to incure?
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