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All Forum Posts by: Purnell C.

Purnell C. has started 22 posts and replied 135 times.

Post: Commercial Agent San Joaquin County

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

Attempting to view the property data for a property in Tracy CA.  I am only licensed for residential.  Are there any commercial agents whom I can speak with about this property?  Please PM me.  

Purnell

Post: IRA Custodian recommendation

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

Sense Financial, Dmitiry has been very helpful with my questions.  I signed up with a different company but I plan to switch to Sense Financial once the current plan year ends. 

Post: San Jose Meetup - Friday 7/18/14

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

I'd like to attend + 1, this evening if it's OK.  I have a would be investor I am bringing along.  Please let me know if showing up is good.  

Thanks, Purnell

Post: Creative financing

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

How much is the home worth?

Post: Solo 401k and personal funds - Arms length question

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

Thanks all.  I wanted to make sure this would not put me in a position to have to submit an explanation to IRS.  I've decided to have him separate the funds. 

I am so happy to have found out about the soloK.   You all are great.  

Post: Credit Rebuilding....Help?

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

There are a plethora of websites, BP for instance! where you can find answers to your questions. What is important for investing is learning as much as you can and having cash to get started. Save, borrow, sell, work hard for an investor!  

Good luck

Post: Repair appliance or replace?

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

Depends on the property and the tenant IMHO.

How important is the appliance?  Oven, Microwave, Fridge, Washer, etc...  

Post: Solo 401k and personal funds - Arms length question

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

I'm interested in lending both solo401K funds as well as personal funds to the same borrower. He's a flipper.  He wants to record one deed for his personal residence as opposed to recording a different deed each time he acquires a different property.  I've verified there is enough equity for my pennies.

If two deeds against his property are recorded, one in my name and one in the name of the solo401K, would this negate the arms length rule? 

Post: My scenario and your advice

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

Save the 3K per month, bring deals to an investor, borrow against the 401K or convert it to a self directed/solo account. Best of luck.

Post: East Bay RE NETWORKING MEETUP - Wed, 7/2/14 in Oakland @6PM

Purnell C.Posted
  • Residential Real Estate Agent
  • Livermore, CA
  • Posts 140
  • Votes 28

@J. Martin Really sorry to miss this one. I will be in Arizona that week. I hope you and the attendees have a great time and some deals are started. Thanks so much for adding me.