It's been a while since I've been in the forums, I've been working on building my speaking business, I also recently launched my podcast as well. While doing these other things I have still been cold calling and searching for deals in the LA market. Los Angeles has been very challenging and I hear about everyone going out of state and finding deals. I've decided to jump on the band wagon. I've been studying the Detroit market closely for the past year and I love the upside. I have also looked at others as well, but not as close.

I am gearing up to leave my W-2 job in the coming months and have deiced to pull out my pension(which has been sitting there for the past 3 years, I can't roll over until I leave), and my 401k( I did the numbers with the penalties and taxes as well). I know some may think why not let it stay in and have more money to invest. If I were to invest after rolling my money over into a solo directed IRA all of my profits will go into there as well. The reason I'd prefer to pull out is because I will be leaving my W-2 and going solo and would like to have access to the capital if I need it(which I doubt).

I would ultimately like to partner with others who are already active doing flips and rental properties so that I can build up my cash reserves. I am open to all opinions. This has been something that I've sat on for a while and feel like this is the best decision for me in pursuing my future goals which include more than just REI.

2 Votes

4 Replies

Jump to Last Reply

I'll have about 30k to invest

Most Popular Reply