All Forum Posts by: Alexandra D.

Thank you everyone for the responses. This is all new to me. There seems to be a wealth of information and many different strategies to use. I know we can't borrow from his current 401K plan. We have tried, it is in a safe harbor account so it isn't eligible for loans or cash-outs. Since he is changing employers that is why the money has become available.  @Thomas Rutkowski - so can I talk to a company that handles these types of accounts/transactions directly if the accountant can't provide us the information we are searching for?

@Emily S. The LLC is in my name but the 401K is through my husband's soon to be ex-employer. We had heard from other investors about borrowing from someone else's retirement to help fund the deals so we wanted to look into that option.

@Brian Eastman thank you for the information! We weren't sure how the loan program worked as we were told we can use SDIRA's but I had read that there are restrictions against this.  I will be looking more into the thread before our appointment this week as well as what your company has to offer.

Hi everyone! My husband is in the midst of switching jobs. We are looking to rollover his 401K into an account we can use to invest in real estate. We requested an appointment with our accountant to discuss things further but I am trying to get an idea of what kinds of questions I need to ask and which type of accounts to do some research on beforehand. We were planning to borrow against the account for the down payment on rentals. Would the cash flow from the rentals come directly to the LLC or is something that would have to get payed directly to the retirement account? I would also like to know more about the tax implications it can have or if there are regulations as to who can borrow against this money. Any help will be much appreciated!! Thanks in advance!

Thanks, I will be heading to Lowe's this weekend!

Hi all! We are looking to put an offer in our first fix&flip in Carbon County, PA and need a scope of work estimate for rehab costs. Any recommendations for a contractor would be appreciated.

Thanks, Alex! 

Hi everyone, I am looking to put in my first offer for a flix&flip :) and I just wanted advice on if I estimated rehab costs correctly before moving forward. I have true estimates on some of the work but not on everything. I will include the estimates in parenthesis I received thus far, anything else will be what I estimated based on previous work done on my personal residence.  This property is in Carbon County, PA. This is what we have decided for the scope of work on the rehab:

Professional mold remediation with basement clean-up ($4600)

Conversion of the family room on the 1st level to a 4th bedroom. ??? ~$1800

New Paint & Carpeting throughout ($8800)

Replace the front porch deck boards ($3500)

Power wash vinyl siding & roof ($500)

Minor landscaping to clean up outside yard and minimal landscaping around the front and side ~$1000

Extend the deck from the sliding glass door to the side kitchen door with one set of stairs entering the kitchen door (roughly 6-12 linear feet not including the steps) ~$3500

New stove and dishwasher ($1200)

I included a miscellaneous cost for anything that may come up of $5000. Total rehab is estimated at $29,800.  Does this look okay for a rough budget? Any help will be much appreciated!! 

Thanks Alex!!

This is amazing!! Way to go!!! 

Hi All!! My husband, Chad, and I signed up for Bigger Pockets in December. We are located in Danielsville, PA about 30 minutes north of Allentown, PA. We are looking to network with local investors. In addition, we are building our team starting with realtors, CPA's, and contractors in the area. As of right now, we are interested in doing flips within Northampton County and parts of Lehigh County. Any advice or connections will be greatly appreciated!! Thanks!!