All Forum Posts by: Account Closed

@Ryan Nastase

Nice and congrats on those acquisitions!

Love to connect offline and discuss your thoughts on the Tucson market. Always great to share data.

@Anthony Gayden

Go Cornhuskers!!!

Man - I miss big mouth bass fishing... memories.

From Battle Creek myself.

@Mindy Jensen

-Traveling this gigantic world with my family

-Gym; physical health = wealth

-Self Improvement

-Moderate Hiking

-Cars, just love to drive and cruise

Eventually:

-Like to pickup golfing

-Rock Climb

-Sailing

@Chase Alison Matthews

I agree on #4 on SBA PPP, unless Congress acts many SMBs will go out of business.

Also the number of SFR going to forbearance is rapidly increasing.

When do you think (before FDA Covid-19 vaccine) is where we MAY hit bottom, when it comes to asset values (which are being propped by Feds printing money)?

@Remington Lyman

Lots of new transplants coming from CA and WA, so the residential real estate is “hot”, depending on which part. But we bought in 85254 and faced 9 other bidders. We got our home a little over asking.

Make sure to submit a escalation clause in your PSA.

A lot of fellow WA based techies have moved, and we only miss one thing, which is tap water. Apparently the water has high mineral content and PPM is above EPA guidelines for drinking water.

Other than that - everything is better. Food (with the exception of Teriyaki), cost of living, and a fairly landlord friendly state. Versus some WA counties that run by crazy city councils (Seattle is one of those).

My 2 cents.

@Walter Fabiszewski

Great story also - Perseverance builds character

@Sayli Mulay

You said old-401K rollover, correct?

Why would you not setup a solo-401K? It gives you more control and access to funds.

Just curious why the SDIRA path? I hate checking with a custodian, except for annual tax reporting.

I did a Solo-401K and much happier. Just curious.

@Jimmy Lieu

My wife and I bought a home in Scottsdale, AZ during their surge.

“Be greedy when people are fearful, be fearful when people are greedy” - Buffet rule

Now with that said, does present logistical issues you mentioned.

I would suggest starting with real estate brokers in that area, and ask them to make introductions. Now you’ll want to offer them something - so be ready to tell them your goal(s) and that you’ll be working with them to buy real estate.

Also they are on the "front lines", and are also REI themselves- so they have probably seen it all and face the same challenges.

Hope that helps. And goodluck!

@Walter Fabiszewski

My wife introduced me to it along with my CFP. Prior to REI (about 8 years ago), I had -38000 net worth. It was a gut punch, as I was in a mid 120K/year tech job. And we had to move from our SFR in a bad neighborhood (we wanted new and space), and forgot the cardinal rule; location, location, location.

After selling all my liabilities (cars) and minimizing what we just needed. And borrowing against my 401K (575K), we bought the ugliest house in the best area. And poured the rest of our life savings (10K) and also borrowing against my in-laws for another 20K rehab. We lived in it, and then two years later sold it for 950K cash (no contingency or concessions), and all tax free.

That was my personal "aha" moment. And first start into flipping, then BRRR, then HML, then Commercial MF REI.

Thanks for reminding me how I started, you sometimes forget.

@Kevin M Dobyns

Congrats on your first deal. My advice is just to stay on budget and on time. That is obviously key to hit your KPIs and get ROI. Since this is your first deal, you will want to be a bit more hands on with the subcontractors to "learn" not micro manage. They can probably tell you have no idea what you are doing, so don't pretend. And just ask them questions and tell them you want to learn to make future jobs easier. You can also get a feel for those subcontractors who are going to work for the next deal. Some things that they don't tell you in books. Hope that helps.