All Forum Posts by: Berridge Thomas

@Alexis H.

I'm still working on finding my first deal and felt like I hit a wall. I reached out to a couple local investors here and it felt good to talk to someone in the business, but after reaching out I had a weird feeling about it. I want to learn the business myself and the whole reason for this is to work for me. Make my own decisions and not be held back by someone. I see both sides of it but for someone with the money and knowledge, I don't see why not going at it alone.

@Dave Foster thanks Dave, that's most likely my route. Leave that alone and only use it in an emergency. Thanks for your insight

@Whitney Hutten thank you Whitney! It is nice having a few options. I have some things to think about.

@Mike Paisley appreciate that. Yes, I have a primary residence already and with the family not sure they are up for house hacking! Lol. I am looking at single family, ranch style houses right now but open to a duplex or triplex if I find the right deal. Those things are hard to find!

@Mike Paisley wow! Putting it that way makes me not want to touch it.

Currently I am vested in a pension program through the carpenters union. I am relying on that for retirement savings as of now, but am looking to put a nice portfolio of rentals together to also help with retirement.

I have 46k liquid as of now, I know it is probably enough for what I want to do, (I'm looking to buy my first property for under 80-100k) was just wanting to be able to access more money and not use a HML or bank if I could until I refi.

Thanks for your insight!

Hello,

I have an old IRA from a company I worked for years ago. There is about 40k in the account. I don't contribute to it so it just kinda sits there. I'm 38 yrs old and will be purchasing my first brrrr this year and want to be able to have access to those funds if needed. Would it be wise to transfer to a Roth or should I cash out given the current tax breaks due to covid19.

@Wayne Brooks thank you! I'll do some more investigating today

Found a property in a B neighborhood that I looked at on Zillow and while running the numbers noticed it said " cannot clear title" in the listing. Has anybody ever ran into this? I tried looking it up on the township tax page but can't find anything. Is this property worth digging further into or should I avoid it?

Hello all!

I work full time as a union carpenter now which has helped me in many different aspects of construction so I am thankful for that but cannot get started in REI soon enough!

When you "took the plunge" into your first deal, specifically rental properties, how much did you start out with? How did your first deal go? Did you underestimate how much you would actually need?