All Forum Posts by: David Neff

Some other expenses that may need to be considered are: "Capex" (unless all your high ticket items are new and you don't expect any major home repairs like a roof to be done within 5 years) and General Maintenance issues costs. These will lower you cash flow even more.

Lowering your mortgage could possibly help, but if not, then Option 2 would be my thought. 

Play with the numbers but no fudging for Option 1.

So no, there is no penalty to borrow the money as long as you pay your account back. That is the beauty of using your 40k in this method. I to was ignorant of this rule. So check it out. My 401k is managed by Fidelity and in the website is a section on withdrawals or loans.

My example: I borrowed 30k and loaned it for four months which paid 10%. By the time I got all my money back it was a little over six months and I made 13.2%. All the while I was repaying my 401k plus 5.25% to me.

Next I payed off a CC that was almost 8% and improved my credit score by doing that and I continue to pay back my 401k.

Poof! Imagine what you could do with your own loan to yourself. And no penalty fees.

Just keep paying yourself back.

You can also tap into your 401k if you have one. You can borrow up to 50k depending on your balance and you have up to 5 years to pay it back. Cool thing about this is, your paying yourself back monthly plus 5% or whatever the going rate is now. Typically this is setup by the company handling your 401k. Just some additional cash ideas.

Congratulations Donald.

Like you, my wife and I have been in information paralysis since Dec 2016. Done a lot of reading, spent a lot of money and still no deals.

Enter BP.

She turned me on to it and now confidence has grown.

Your story helps a great deal, so carry on.

Thank you.

Btw lived in Tokeland, Grayland and Aberdeen when I was in the Coast Guard at Westport, WA. Long time ago.

Greetings everyone,

New to BP and looking forward to getting to know as many of you as possible.

I currently work in Aerospace industry and have a great desire to leave this corporate world. My wife and I have been bouncing real estate investing around in our minds for many years but can never seem to get ourselves going. We lack bravery. She turned me on to BP (she may have an account) and I have listened to many of the past podcasts. I found them very enlightening. So, I signed up and am sifting through all the content that the site offers. My goals are to do a wholesaling or flipping initially for the experience. Buy and hold later. Looking forward to my first webinar and plan to use whatever tools there are to make this dream a success.

Cheers all,

David