All Forum Posts by: David M.

Hello BP'ers,

I've been over and over the forums reading the 401K loan threads as much as possible, and see the point people are making when they mention that you are paying it back with post-tax dollars. However, if you have decent amount of employer matched funds that are available, is taking the 401K loan still worse than a hard-money loan?

As an example, if I could take a loan of roughly 25K - if I add up the amount of employer matching and gains over the course of my time in the plan, that adds up to be about 18K of the 25. The employer match is really a 100% return already, so doesn't that sort of offset the double taxation issue enough to be worth it?

Hello All,

If you roll your employer sponsored 401K into a solo 401K, I'm assuming that any profit/cash flow must remain in the 401K as well, correct?

Meaning, if my primary goal is to replace $dayjob income, then investing in a solo 401K is not the correct path...

I'm thinking a 401K loan is better path, and use that as part of the down payment on my first property. That payment would of course eat into cash flow, and that's what my concern would be. I'd rather not wait another year or so before pulling the trigger on a deal (saving for more down during that year), but I'm looking for some opinions. I've read through lots of the 401K loan posts, but perhaps someone that has used a 401k loan could chime in with any thoughts?

Thanks in advance for any input.

Thanks @Kyle McCorkel - I will get in touch with Ethan.

Hello BP Members - my current insurance company (for my personal residence) is State Farm. I'm just starting out in REI and am wondering if anyone can recommend for or against State Farm to insure any potential rental properties?

I spoke with my agent yesterday who mentioned that one of State Farm's strong points is that they cover lost rental income in the event of a fire/etc. I haven't really shopped around or contacted any other agents, so perhaps someone out there has some input? I would imagine other companies would cover that as well? Does it add significant cost to the policy??

Thanks for your guidance!

PS: This is in the Lancaster, PA area if it matters, or if anyone has recommendations for a specific agent to speak with.

Hello team BP!

Can anyone recommend an investor-friendly and willing-to-work-with-newbies realtor in the Lancaster, PA area, or somewhere close?

Thanks in advance!

Can I ask what everyone on this thread thinks of the Lancaster area specifically? Like @Matt

@Matt V. mentioned, a lot of this area consists of service jobs as well, and not quite the number of large businesses to support increasing rents. Wegman's will be building out here sometime in the next year or two, so they apparently see it as a good investment, and I still think the area will continue to grow, I'm just not sure how much.

Thoughts?

Welcome @Matt V. - I'm in Lancaster, and in a similar situation as well, granted a few years older, but looking to do what you're aiming for.

Best of luck in your future endeavors!

Good deal, thank you. So really, T and O are essentially the same it seems.

Thanks again!

Thanks @Shoshawna Merten - then 'o' means? Occupied ?

Yeah - no idea. I thought it would be an easy question. Perhaps not!

The only reference I've seen to 'T' in an MLS listing is that is it means "temporarily off market", but I don't think that was referring to occupancy, more so the listing overall.