All Forum Posts by: Christian Nachtrieb

So I'm getting plans ready to renovate a 3br/1ba property outside of Boston and I want to open the kitchen up a little bit. They already have washer and dryer hookups, but it would really make the space feel bigger if I relocated them to the bathroom. If I did that however, I'd have to nix the tub and instead do a standup shower.

Do the Pro's outweigh the Con's in this situation? I'm thinking it's better to have a bigger, more open kitchen and sacrifice having a bathtub in the bathroom and instead just do a nice standup shower. 

Curious as to your thoughts and experiences. Thanks everybody!!

That’s awesome thanks so much for replying. I’m going to need someone around March of next year just trying to get some names ready. Much appreciated!

Hey @David Santore by any chance did you end up finding anyone? I'm in need of someone for a relatively small job in a condo unit in Dorchester. Thanks dude!

I'm in charge of a small 3-unit HOA, just wondering if anyone is collecting payments from unit owners online in any way? One of the people doesn't speak English well, and sometimes he doesn't fill out the checks correctly. Would love some kind of an online portal for this sort of thing.

Thanks!

@Ben Leybovich Those floors look great, where'd you get that?

@Account Closed Yea that's sort of what I was thinking. **Being able to achieve the returns necessary aside** ... I don't necessarily have the personality to be able to hold an asset like a stock for long term. I have an itchy trigger finger, part of the reason why I like real estate is because it forces me to do better homework and stick with it for the long term.

I guess my worry is, am I dumb for not "sheltering" money in a Solo 401k at all? Again, not making a crazy amount of money I earned $90k gross last year doing freelance / W2 money from my company.

@Justin Windham That's super helpful thanks so much for laying that all out. I'm thinking Solo 401k might be the best option. Real quick, can you elaborate a little on one of your points? What are the additional tax benefits with investing in real estate with a Solo 401k and leverage? 

Hey @Daniel Dietz Actually I have heard of the Self Directed IRA but other than that small nugget (you can invest that money in real estate) I really have no idea how it works.

Can it be opened with one of the bigger brokerage houses like Ameritrade / Fidelity?

Let's say I only have $10,000 in there but I need $20,000 for an investment in a property.. can those funds co-mingle if one is coming from a non tax deferred account?

Thanks so much, I'll start looking more into that for sure.

Hey folks,

Currently I am in an "early growth stage" as a real estate investor. I have three properties under my belt, and looking to grow much further beyond that. By day, I'm a video producer and operate a couple of LLC's doing production work and my only retirement setup at the moment is a Roth IRA. Interested in opening a Solo 401k. Obviously this would be beneficial in that I'm skirting some tax money until later in life and thus reducing my taxable income.

However, here's the rub.

I'm not rich. I don't have tens of thousands just laying around. I would LOVE to be able to borrow and take a loan out against the 401k which I know you can do.. BUT it's limited to 50% of the value (limit of $50,000 total). In essence, in an effort to save on taxes, I'm limiting the amount at which I can use my own funds to acquire properties.

Has anyone dealt with this conundrum and what are your thoughts on this situation?

Thanks!

@Mike Dorneman Do you HAVE to do a commercial appraisal? I don't know if I've read anyone specifying that before but perhaps I missed it. Keep up the good work Mike.