All Forum Posts by: Charlie Gruber

Some banks allow less than a year or what is called "seasoning". Typically only smaller regional banks do this so ask around. Also usually different rules for if used all your own money originally or if went hard/private money to fund.

https://www.amazon.com/Building-Wealth-One-House-Time/dp/0071448357

I’ve been looking into difference between Title and a Deed and below are a few notes. Please let me know if something look incorrect or if left out important details. Thanks.

A deed is actual piece of paper that records a single event about a property such as transfer of ownership. The deed is recorded as public record. A property can have many deeds that have been recorded against it over time but only the most current shows current ownership.

A title is the entire history of a property. It is not an actual document but more of a “concept” or history of a property showing all deeds, judgements, leans etc. recorded against property. The title is not recorded as part of public record.

An analogy I came up with is a title is like a job resume and a deed is like a single job instance on your resume. Just like how a resume is a summary of your entire work history a title is summary of property history over time. In addition, just like how a past job represents an event in your history a deed represents an event is history of property.

Dano Qualls , Just stumbled upon this old post. I'm also in Denver (Golden area) looking for realtor to assist with buy/hold properties . Let me know if connected with realtors you'd recommend. Thanks. -Charlie

Michael Young , Stumbled upon this post. Just curious if found anything?

Thanks all for great responses to my original question.  I'm going to give Cozy.co a try.

Looking for suggestions on tools to use for electric rent collection.  For now I only have 1 property but looking to expand.  My renter would prefer Venmo or PayPal but open to using other tools.

Please provide pros/cons of these and other tools.Thanks and really appreciate the help!

-Charlie

Also worth noting that employees who leave their jobs, are laid off or fired typically have to repay their loan within 60 days. If they don’t, the loan amount is considered a distribution, subjected to income tax and a 10% penalty if the borrower is under 59 and a half.

A good online calculator for 401k loan calculations:

http://www.bankrate.com/calculators/retirement/borrow-from-401k-calculator.aspx

Wanted to start thread on pros/cons on using a 401(k) loan to finance real estate purchase.  From the research I've done (links below) sounds like a bad idea but curious if anyone has different perspective.

Research links:

https://www.fidelity.com/viewpoints/retirement/be-cautious-about-401k-loans

http://www.bankrate.com/finance/retirement/4-reasons-to-take-out-a-401k-loan-1.aspx

http://www.marketwatch.com/story/avoid-the-temptation-of-dipping-into-your-401k-2015-06-04

Online calculator to analyze cost of 401k loan: 

http://www.marketwatch.com/story/avoid-the-temptation-of-dipping-into-your-401k-2015-06-04

Thanks all!
-Charlie

Wanted to ask how realtor commission works on seller financing deal?  For example, the sale price is $850k but by the time we pay 5% interest rate to seller over 30 years the final amount to seller is over $1.5 million.  I assume realtor only gets commission on original $850k but can someone confirm?  Thanks.

-Charlie