All Forum Posts by: James L.

@Shawn L. I can refer you to someone if you want, he is the largest mortgage broker in the Chicago land area. Private message me and I will give you his contact.

I am looking to rollover my 401k into a SDIRA. I am having trouble finding companies in the area that do this. Any insight will be greatly appreciated as well. Thanks in advance!

Thank you for the reply's @Bart H. @David Bermanski @Jake Hottenrott

I own a condo free and clear. My plan is to rent that condo and buy another condo to live in for a couple of years before the purchase of a house in the suburbs, which I hope to stay in forever. I plan on using the income from my rented condo to cover my interest on the new condo. My thought is that this will allow me the freedom to have options for the next couple of years to make whatever kind of investment or possible move in the near future. Realistically, if I use an interest only loan (deducting the interest from my personal income on 2nd condo loan), I will be living for free for the next couple of years.

Jake Hottenrott

Jake Hottenrott

David Bermanski

David Bermanski

David Bermanskenrott

When I buy a home with a 30 yr mortgage at a rate of 4%, I have a payment each month for 30 years. Some of the payment goes towards paying down the principle; some goes towards interest. I then get to deduct the interest I pay annually from my income. My question is..... If I have an interest only loan for X amount of years, am I still able to deduct the interest even though I am not paying down the principle? Thanks in advance for any helpful insight!

Job well done on the rehab! Did you add a second full bath? Unfortunately, the closing price of 145k from June is factoring into the current price when doing a CMA. Granted your home is completely renovated and updated, there have been quite a few others that have had similar updates that have sold for around 200k. I am a Broker in the City - Let me know if I can be of assistance.

Thanks James

I am an investor friendly realtor and would be happy to help. Lets connect so we can get this ball rolling.