All Forum Posts by: Benjamin Small

Thank you!

Congrats @Charlotte Edwards for paying them off.

I need help with doing a 1031 exchange. I understand the concept but I get the impression you have to be on top of the requirements to properly take advantage of it.

I am looking in to doing an FHA loan now. Can you qualify for FHA while owning a home? I thought FHA was for first time homebuyers.

Anyone heard of the NACA program? I came across it from a previous agent that I worked with. The only issue is that you can't have an ownership interest in another property on closing. Is FHA different in that respect? I am not familiar with FHA loans but since it was mentioned, I will be looking in to it now.

:) @Wade Alderson

I would really, really like to get in to multifamily properties. That is the long term goal for sure.

Does anyone have any recommendation for overcoming the financing hurdle? @Thomas S. That is an awesome suggestion. Thank you for that. I do not like my 401k except for the company match. I invest only enough to fully maximize their match.

These are all excellent thoughts and I appreciate the perspective that others can bring to the situation. Thank you all very much!

One potential obstacle that I have with pulling out equity or getting loans other than student loans in general is the fact that I have a bankruptcy/short sale on my credit record from a previous investment property that I acquired prior to 2008. I ended up being upside down and took advantage of an offer from the mortgage holder to short sale the property in 2012. I have found it extremely difficult to get funding since, which is entirely understandable. That would be a great idea if I can find a way to overcome that obstacle.

The private student loans that I have are at 10.25% and 8.25% variable rates and slowly on the rise. The others are federal, fixed rate with a high of around 7%. I am not too worried about the federal loans but the private loans cause some stress.

I think I like the idea of funding new investment, but that may not be the most advantageous option.

Hello Everyone...

Financial matters can be such an emotional decision. I have some cash savings along with a modest investment property and a primary residence. I own both properties outright with no mortgage payments. I am saving in a 401k for retirement as well. What I do owe is student loans, and I would like to pursue a Master's degree this fall, which will cost almost $20k over the next two years. A portion of the student loans are private loans through Navient, formerly Sallie Mae, and the rest are federal.

I have almost $20k in cash sitting on the sidelines waiting for the right opportunity.

I could potentially pay down a significant portion of my student loan debt right now, that altogether totals over $60k. I could rehab a property and either rent it out or sell it after the rehab is complete. I could also pay outright for my schooling come August and avoid getting any more student loans.

My main hope is to free myself from the rat race as quickly as possible. I want to pursue an advanced degree so that I can teach in college. I keep my expenses low and I am generally happy with things that way. I want to own a multifamily property, or several, which have some solid cash flow and not depend on a full time job to sustain my expenses.

I am emotionally torn between paying off student loans and holding on to cash and waiting for the right future investment opportunities. I am not quite sure what I would like to do and wondered if anyone had some thoughts.

I would like to join if there is still room. Thanks

Hello,

I am considering selling a 2/1 that I currently have in Jax FL in the next six months or so. It needs some cosmetic rehab but it is currently livable. I can give you more details if you are interested. 32207 zip code

I own houses in the 32210 and 32207 zip codes. I am currently living in the 2/1 32207 house and fixing it up and I am currently renting out my 3/2 in 32210. The areas differ a lot with in the same zip codes, so be aware of that fact. 32207 is a bit central to the area where as 32210 is not as central to the large majority of employment centers.

Just some thoughts. Good Luck. Let me know if I can help.

I am considering getting my real estate license more for the knowledge value than anything else.

What are the thoughts on going through the training as an exercise in education and familiarizing yourself to what the agents and brokers are required to know as part of the licensing process? I would think that doing deals and coming to negotiations with a little more knowledge than I have had in the past could be very beneficial.