All Forum Posts by: Angela A.

@Bernard Reisz

Ok, I will look into the IRA/401K as @Carl Dean and many others have mentioned. I will do my homework first before I bombard you and others with basic questions. As far as the IRS, It's usually a party until the buzzkill of taxes.

@Carl Dean

I still have to look into all the nuances of the SDIRA and/or solo 401k for investing in real estate. It is a common thread with many of the posts here.

I will review the Texas market again and PM you if I have any questions. I think I have missed the boat on most of Texas, though.

Thank you for your help!

@Leslie Pappas

I see from all these encouraging posts that it is never too late to start. It seems like with real estate, there are so many avenues and strategies you can take that as long as you're willing to put the time, hard work and whatever resources you have, you can make it work. It sort of levels the playing field in that no matter what walk of life you came from, you can get into it somehow and make it work. You just have to be smart about it.

@Pearce G

That must have been a memorable 55th B-day. Now that everything has appreciated significantly since the crash, it's getting more difficult to find good deals. Someone told me that when prices are up and people are buying, they are a hard money lender and when prices go down, they become a buyer. Sounds good.

One could call it a cult, but if it provides financial freedom to live the way one wants to, I'm in!

@Rick Santucci

Looks like with all the postings here with people starting real estate investing at 50+ that you are correct! Doesn't matter how old; you have wisdom on your side. Like in sports, the older players may not be as agile and strong as the youngsters, but they have more experience and better strategies and know how to harness what they have and make it work. Thanks for your encouragement. Best of luck to you to!

@Micki Larkin

Wow, 8 houses at one shot. Did you get it at a deal or a steal? That was a good idea obtaining houses near a medical school as the potential renters from the medical school would need housing and would be spending most of their time at school/clinic or in their books. You would be less likely to have a frat party situation and would have a more responsible pool of students. Good job!

As far as flipping houses, did you have reliable contractors that did the work? Did you do some of the work? How did you get 8 houses all in the same area that needed a rehab?

I agree good property managers are few and far between. I think a good, reliable, trustworthy, investor-minded property manager is a niche in itself since there are so few around.

One thing I wanted to add that is not directly related to real estate investing, but can have an ultimate impact on it, is your health. I hope that, especially, as we are gaining more in years, we are taking care of our health and are making that a priority also because we may accumulate a ton of $$$ and properties, but if our health deteriorates before we can bask in the fruits of our labor, then all is for naught. So, everyone, please take the time to eat well, get adequate sleep, exercise and minimize stress!

@Tom Ott

Turnkey is one of my options I am looking into. Maybe less work, but still have to due preliminary research into the market, run the numbers, analyze neighborhoods, check the quality of company, etc. Just have to do my due diligence. 

Thanks for the well wishes!

@Michael Vivilacqua

Congratulations on your retirement! I can't wait until I can announce that. Moving to another country is exciting also. I would like to travel more and hence the desire for financial freedom hopefully through real estate. I'd like to hear about your turn key experience as I am considering that also. I am sure with your California property, you can nab a few out of state. I guess there's the silver lining of getting older is you can get your hands finally into the cookie jar (IRA, SS). Best wishes on your new adventure!

@Larry Fried

That's great that you have 10 SFR and 1 apt building in 5 years. I am inspired! I like that you have an exit strategy just in case you want out. That's a good thing to consider. Seems like in the later years, you don't have the time to bank on appreciation. Appreciation would be icing on the cake, but if you can count on good cash flow in a stable market, it seems like a safe way to go as time becomes a factor. Thanks for your feedback. I will check out your blog article.