All Forum Posts by: Ahkeem Smith

@Chris Szepessy yes I started working again and thank you for that advice. Stocks are indeed very risky!

I’m trying to decipher whether I should sell my only house after 1 horrible year financially for me. I started a forbearance plan back in August of 2020 and it ends on September 30th 2021. I quit my job last June to help my wife with our 5 children at home and decided to trade stocks but didn’t make as much as I anticipated. Since I am behind so much on mortgage and accumulated a few thousands in debt what’s my best option to start over?

Which is better?

Can your spouse be approved for an FHA loan, with you as a co-signer, if you already have an FHA loan in your own name?

@Justin Reyes

Hey Justin id absolutely do this but not in a form

Of a withdrawal because that’s heavily taxed. Depending on your company’s 401k plan you should be able to take a loan out of about half your vested amount so that you’re not taxed and you’ll be paying yourself back. I personally have done this a few times to utilize my 401k into several other investments if that makes sense.

@Aaron Thompson

Yeah my man once the numbers make sense, then the mortgage is being paid by the tenant. The objective is to find that initial deal, advertise the availability of the property during the rehab process, then once a tenant is in, they’ll pay down the loan.

@Cameron Tope

Alright, thank you!

@Cameron Tope

Thank you Cameron! My interests rates are below 8% and I am pretty frugal these days. My debt should be paid off by the end of the year so I plan to start shopping around for duplex by 2020. I don’t have a destined date to Purchase but I’d like to move my family in within the next two years or so. Would a vanguard index be worthy if I invested in it for 2 years?

Okay, so I currently own my home that I plan to eventually rent out as my first actually investment property. My mortgage is $650 a month and it’s a 4 bedroom 1 1/2 bath row home that should rent for about $1200 in my neighborhood. At the moment, I’m aggressively paying off a little debt using Dave Ramsey’s avalanche approach to ultimately lead me to a debt free start or 0 net worth. Meanwhile, I’ve been blessed to receive a grant in aid settlement from my college football alumni and I want to immediately put it away until I’m ready to purchase my duplex. I’m asking my bigger pockets experts how to save that money until I’m ready to use it for my next investment move? Any suggestions?

Hey, I was wondering if any landlord has had experiences renting to T.R.A approved individuals? If so what were the pros and cons of those specific tenants? Is this a secure strategy for decreasing vacancies?