All Forum Posts by: Craig McLaughlin

@Brian Eastman  I like to do a lot of work myself, so I am afraid that I'll violate some rule about a SDIRA and get hit with a huge tax bill some year when I am not expecting it.  I think if I were to go down this road it will be with funds that I have withdrawn and paid the taxes and penalties on so there is no surprises.  For now anyway. 

I am also interested in completely closing out and withdrawing all previous employers 401K funds to buy cash flowing rentals.  Like most (I assume) I am really nervous about this irreversible decision.  Taxes and penalties will be gone forever.    I have done the math and IF all assumptions are correct then this would be a better decision for me down the road.  Most of the internet, other than this site says this is a terrible idea.  What can I do to convince myself this is a good decision when there is such an immediate drop (on paper) of my net worth.

I’ve been an able to attend any of these meet up thus far for various reasons, but was wondering if there is anything set up for June or July.

Thanks for all the responses.  Sounds like I'll be sending a plumber out to look for leaks.

@Wesley W. That letter is just about spot on.  I think I'll copy a good portion of it.  Thanks.

I am in the same sort of situation.  I already have enough to take a $50K loan from my 401K when I find a deal I want.  I have also decided to only contribute enough to get the full match from my company.  Used to contribute more but realized I wouldn't be able to get that back out without paying a fee.  Just stash the extra you would have contributed into a savings account or stock market if the mood strikes you.

Hi all, I have a unique situation. Actually they are all unique since I only have one duplex. Currently I pay for water and sewer and since it’s a duplex I didn’t figure it would make since to pay for separate water meters or if that is even possible. Our town bills in 2 month periods. So the bill we got in September was $169. The new bill in November is $423. Management company I use states there may be extra visitors in the bottom unit. There are only 2 people in the lease. We have done walkthroughs and did not see any evidence of other people living there. Nor did we find any leaks. My question is, can i do anything about extra people “visiting”? What if they are just constantly running water to be spiteful? Any thoughts?

I would be happy to go

@Account Closed  Thanks so much for that link.  That is what i have been looking for.

@Lane Kawaoka. At some point you’re going to pay taxes on 401k and traditional ira so that is a wash. You could take a withdrawal and pay the 10% penalty but be sure your real estate can make that money back for you in the amount of time you would’ve had to wait. I am not a financial accountant.