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All Forum Posts by: Neech Yates

Neech Yates has started 4 posts and replied 11 times.

Post: Rolling 401k money to a back door Roth IRA. Is this a good idea

Neech YatesPosted
  • Investor
  • Louisville, KY
  • Posts 14
  • Votes 2
Quote from @Taylor L.:

Read up on UBIT. If you're investing in multifamily there's a good chance there will be debt involved and your IRA may have to pay UBIT. Impacts your return and adds complexity.


 Thanks for the information. I will look that up!

Post: Rolling 401k money to a back door Roth IRA. Is this a good idea

Neech YatesPosted
  • Investor
  • Louisville, KY
  • Posts 14
  • Votes 2

I'm thinking about rolling a 401k into a Roth IRA to invest in multi-family. Would this be a smart move? I do know that I will have to pay tax on the rollover. However I think that I could a higher return in real estate then the stock market. Looking for some good sound advice. Thanks!

Quote from @Account Closed:

Start by learning the math. It’s easy to find spreadsheets online, but I recommend learning to making your own DCFs, projections, and stuff like that. You’ll learn a lot. It’s important to use realistic numbers. Here’s what I do: I find a property and put all the financials into my spreadsheets and am blown away by how much money I will make. Then I put in realistic numbers and realize it’s a dog. Then, I go out for a beer with my friends.

Thanks for the reply! Love the suggestions. Recommendations on where to find a good spreadsheet?
Quote from @Nick Giulioni:

Hi Neech, I had my first purchase in Indianapolis. Now, I have more than a hundred doors. I would love to help/share my experiences and chat with you more if you're interested.


 I'm very interested. I sent you a PM

Quote from @Shalini Kadaveru:
Quote from @Neech Yates:

I looking to scale up. I would like to move to Multi-Family investing. I'm just not sure how to get into it. Looking for suggestion on meet-ups. I have read books on it. But you can't has a book questions. I'm kind of stuck. Any suggestion or recommendations would really help. 

@Neech Yates, for real estate investing you need deals and you need capital. If you are looking to find a mentor my recommendation is to start attending meetups in your area. And in the meanwhile start looking for properties that meet your criteria on CREXI and Loopnet. Reach out to brokers and join their mailing lists. You can do this in parallel while you are searching for a mentor that meets your needs. 


 Thanks for the  reply. That is my goal going forward

Quote from @Tyler Lingle:

Do you mean small multifamily 2-4 units or large commercial 5+ units? 


 I'm looking for 30 to 50 units

Thanks all for the your responses. I'm not looking to join or start a syndication. I have learn its better to control the deal then join a syndication at my level of investing. I looking at 30 to 50 units. I think those would be the best return on investment at my level of investing for right now. I'm thinking a syndication would be better once I'm ready to be more of a passive investor. 

The hardest part for me is finding a mentor that I could learn from and ask advice regularly. 

I looking to scale up. I would like to move to Multi-Family investing. I'm just not sure how to get into it. Looking for suggestion on meet-ups. I have read books on it. But you can't has a book questions. I'm kind of stuck. Any suggestion or recommendations would really help. 

Post: Looking for Multi-Family Mentor

Neech YatesPosted
  • Investor
  • Louisville, KY
  • Posts 14
  • Votes 2

@Account Closed Thank you for that valuable information. I think your post was long and very informative. You can need have to much information. I will take everything you said to heart and apply it. I like SFH but it not really scalable. I'm looking to buy 30+ units.

Post: Looking for Multi-Family Mentor

Neech YatesPosted
  • Investor
  • Louisville, KY
  • Posts 14
  • Votes 2

I'm wanting to move in the Multi-Family investing. Any recommendations on talking to and find a Family Mentor?