All Forum Posts by: Daniel C.

Thank you @Ann Bellamy. I’m looking for transactional, as well as asset protection.

Hi Could you recommend a great RE attorney for investors in southern NH? Thank you

Thanks @Cesar S. If I do it, the plan is indeed only for down payments with leverage, and only on great deals for value and cash flow.

Thanks all for the advice. I appreciate both viewpoints. If nothing else, the difference in opinions justifies the debate I’ve been having in my own head. I seems like I didn’t miss anything in my research, just that I’ll have make and own a decision one way or the other.

Thank you @George Blower. Going slow is always wise. Definitely something I will consider. Thank you @Joe Villeneuve. Since I don’t work for that employer anymore, I can’t take out a loan on the 401k. If I rollover to an IRA, I was under the impression I could only take out a loan for a very short term. Is that not correct? Thank you

At first read, I’m sure the amount of reasons not to cash out my 401k will be many, but I want to give context and see what you guys think. I have about 250k in a past employers 401k. My options with it are to cash out, roll over to an ira, or some combination of the two. I’m new to REI, but I’ve done my research over the last 6 months, listened to all the pod casts, built some elements of my team, have financing lined up, and have three cash flowing properties that I am interested in at the moment. I’m 40, and my “why” is financial freedom in the next 5-8 years. I do not want to wait until I’m retired to benefit from cash flow, which is why I’m hesitant to go the route of self directed IRAs, 401ks and such. I understand that cashing out will cost me almost half of my money after taxes and penalties, but all my calculations say that even after 10 years, the remaining money as 20% down payments will earn way more for me than keeping the money where it is. I’m ready to take action, but I need a little confirmation that I’m not missing something, and this is why I’m coming to the experts! What do you guys say? Thank you!

Thank you both for the information! All great points and something to think about for sure. Regarding rentals to students, how often do you find that you’re actually dealing with the parents of the students, and how do you typically handle the lease differently?

Very excited to make my first post. The community here is such a wealth of knowledge! I’m new to the investing side of real estate, but have been studying and analyzing my potential areas. Cheap houses in southern NH are hard to find, but one potential area I’m able to make numbers work is in a college town a bit north of me. 40% of the town rents, which is unusual as far as I can tell. The numbers also look promising in small multi family properties. With that, I guess my question is what considerations I should have potentially renting to college students? Is this not a big issue, or might I be getting into more situations I’ll need to navigate as a beginner? Is wear and tear really that much higher with students? Do lease lengths get difficult with the off semesters? Do students usually look to rent rooms or units as a group? Thanks for any advice! Dan Cayer