All Forum Posts by: Brian Zitzow

 It's not necessarily about tax rates going down. The way to use a 401k is to create a lifestyle where your income requirements are low in retirement (i.e. have a house already paid off). Then instead of a large distribution of the money being taxed at multiple levels, you withdraw as little as you need and it's taxed at a lower rate.

The following two scenarios result in two different effective tax rates

100k annual income from 401k
vs
20k annual income from 401k

I'm looking for contractors in my area that are experienced with doing FHA 203k loan improvements.

If you're not in my area, maybe you could tell me a little about your experience with contractors and FHA 203k's in your area.

Thanks! :)

- Brian

I'm looking for a lender experienced with doing FHA 203k loans in my area.

If you don't know of any in my area, maybe you could tell me about your FHA 203k Loan experience?

Thanks!

Welcome to bigger pockets. I'm also in Roseville, CA. 

So I got word back. They have an offer "right around the 300k mark". 

When I run the numbers for 20% down payment on 300k it cashflows at $100+ / unit. 

So my realtor is right, I'm way below because I'm trying to take advantage of an FHA loan with a 3.5% down payment and the market has enough buyers offering 20% down to price me out.

So ... I either wait (and continue to save) until I can play the game in this market with 60k down OR I change my strategy. Options:

• Invest out of California (still requires 20% down, but less actual cash to start playing)
• Direct mail campaign and find a motivated seller happy with the sales price I can offer that doesn't have other offers coming in competing with mine
• Look for run down single family homes and try the BRRR method. (I initially wanted to stay away from flipping, but I also want to take advantage of the low down payment I can get, and stop renting)
• All of the above, and see which presents an opportunity first.

I'm new to this, what other options am I not thinking of?

 It's 70% of the asking price. What's the lowest % you're willing to write an offer for your clients? 

What if that was the only other offer, and it falls through for some reason? Wouldn't it be better to have my offer on the table? I've heard on the BP podcast many times that NO doesn't mean NO for ever, it could just mean NO for now.  

 Thanks for the encouragement. 

Is a letter of intent appropriate with a probate sale?

Also, do you think it would help if I included my analysis in the letter of intent so I can show them how I came up with the offer amount?

Congratulations! I can't wait until I can say the same!

Sorry, I don't know about Reno.