All Forum Posts by: Dan Krupa

@Brent Kiger, I have a property south of Zona Rosa. It is a great area in my opinion. Great schools, solid B+ neighborhoods, and as Andrew Syrios pointed out very low crime. The schools vary slightly by zip code but are generally good.

My property is a 3/1 renting for 1525 per month. 1500 is the average in the neighborhood.  My property was newly remodeled but the rent price you are describing sounds accurate or a little low depending on the area and upgrades you put in.  

Tenants are good.  We have had zero issues. Most people want to set down roots and make a home in a nice community. Most of the nearby comps don't have a ton of upgrades. New appliances, refinished wood floors (common for the houses built in the 60s and 70s in that area), new carpet, all new paint and an upgraded bathroom.  

The older properties can have aluminium wiring and galvanized piping. Make sure you do you due diligence but I highly doubt if you get a good price it is a bad investment.  

@Matthew Kreitzer, thanks. We are talking to her next Thursday but I wanted to start working some strategies. Thank you for the input. 

@Jason Hirko @Dmitriy Fomichenko and @Mark Nolan, gentlemen thank you for the outstanding information. I didn't realize we had so many options. Currently we have about 100k to invest but are looking to free up the 65k in my wife's 401k and the 55k in my TSP. Are plan is to flip until we have the gain additional capital to increase our buy and hold portfolio.(currently we have two SFHs) We do not want to over leverage.

With that structure we know cash is king. It sounds like the non-recourse loans would be best. I heard you can't personally manage the properties owned in your self directed IRA but I am not sure if that is true.(still researching) Does anyone have a recommendation of which route we should take? Thank you again for weighing in and providing some invaluable insight.

Question for the smart masses. I am catching up on podcast and I listened to episode 55 featuring @Jimmy Moncrief. He stated you could use a retirement account as collateral for an unsecured loan. Does anyone know anything about that process?

Example: A person has 50k in a 401k or IRA account. Instead of cashing out and paying the penalty and taxes could you roll that in a self directed IRA and also use that money to secure a 25k unsecured loan?

Question for the smart masses. I am catching up on podcast and I listened to episode 55 featuring @Jimmy Moncrief. He stated you could use a retirement account as collateral for an unsecured loan.  Does anyone know anything about that process?

Example: A person has 50k in a 401k or IRA account. Instead of cashing out and paying the penalty and taxes could you roll that in a self directed IRA and also use that money to secure a 25k unsecured loan?

@Jonathan Godes, haha. Thank you for clarifying.  That makes a lot more sense. 

@Kirk Calhoon, welcome to BP. I think your goal is awesome and definitely the right mindset.  

@Nate Baker, welcome. I am newly minted father myself with another on the way. I feel you brother ;-)  Anyways, glad to see you jumping in and making your dreams happen.  What type of investing do you want to pursue?

@Julio Rodriguez, welcome. What have you read so far? Have you started thinking about what type of investing you want to get into?

Umm isn't advertising / seeking out investors against SEC regulation? Not sure but I know its iffy....