All Forum Posts by: Bobby Barlow

We are definately going to do that . I just asked here b cause I know ther are many knowledgeable people here and thought they could steer us in the right direction

We would like a longer term loan with a small payment for now. Ideally we would like the payment to be about what our car payment is now. we were thinking a 20-30 year fixed.I do anticipate us paying it off much sooner but am not sure. As I understand it a heloc has substantially larger interest rates.

My wife and I sold a business and moved to Florida where we bought 5 acres and had a house built for roughly 220000 for the house and 35000 for the land. We moved in about a month ago. I got a new job about 3 months ago I only make about 2000 dollars a month. We have a 550 dollar car payment and no other debt. We paid cash for the house. We will owe about 40000 in income tax from the sale of the business. We owe 22000 on a car and we would like to have a driveway built that will cost 11000. we would like to get a 75000 mortgage on our house which is valued between 250k and 300k to pay the taxes car and driveway off) We bothe have good credit (750 - 800) can we do this? I red somewhere about having to wait six months. Is that true. Please provide info if you can thanks in advance

thank you for the replies I guess I will have to find another way to purchase the property. If the loan was available for longer than five years I could swing it but I'll have to find another way rather than using the solo

so can I buy it with the solo if I do Nothing to it? Or can I not because it is next to my own property?

I am currently building a house on 5 acres. The five acres next to mine is currently up for sale. I know that there is someone else interested in it but I'd really like to buy it to keep from having a house right next door to mine. The only money I have available right now is in my solo 401k. My question is can I buy the property right next door to me with it. And if I do will I ever be able to use it for personal enjoyment. Is there a way for me to ever own it outright so that I can use it? Please help if you can. I think I can make my self a loan from the solo but how long can I make it for and can I make it with small payments?

Thank you for the welcome I am looking forward to making this work I have about 50000 to start with hopefully i can make it grow. 

I have just opened a solo 401k with a rolled over retirement account and will be giving land flipping a go. I have my tax delinquent list from the county I am interested in. I am ready to start sending letters. Does anyone have an example of an effective offer letter they use that I may use any help is appreciated. also do you mention that they are delinquent on taxes in the letter or do you just make an offer? Thanks for the help

Can someone tell me what expected closing costs would be on a Freddie Mac foreclosure on an all cash purchase price of 250000. Thanks in advance for help

Title pretty much says it all. We were getting ready to list our house with a realtor when a buyer pretty much fell in our lap. We would like to sell it without a realtor and save the commissions . We live in texas how do we close this deal without using a realtor?