All Forum Posts by: Brian Dowling

Thanks so much!!! That $50K just might bump me up to a higher tax bracket.  

I am Passive Real Estate investor and plan on investing in an ATM Fund in the amount of $200K.  The investment will provide investors with a 24.7% annualized preferred return (paid monthly), and the potential for significant depreciation benefits (estimated 100% of invested capital to be counted as a passive loss during the first year of the investment ).  My question is am I better off leaving it in my Solo 401K, where I can draw the money out at my leisure.  Or should I withdraw the $200K from my Solo 401K and take advantage of the 100% depreciation?

 

When I was nearing retirement from my corporate job about 5 years ago I started looking into alternative investments that generate supplemental income.  I was contemplating active real estate investing vs. passive real estate investing and spent a lot of time on forums and podcasts in bigger pockets.  I then started to listen to several podcasts who specialize in Passive Real Estate.  Many of the guests would be successful Syndicators.  After about 2 years of listening to these success stories I started contacting the ones I felt had good experience in high growth areas of the US.  I also read several books on Passive Real Estate Investing.  The one I recommend most is for sale on Amazon for $8.95: "The Busy Professional's Guide to Passive Real Estate Investing: A physician's path to building wealth, creating financial freedom and leaving a legacy Paperback – December 7, 2019 by Vanessa Peters MD (Author)".  I started investing 2 years ago and have now purchased 12 syndications in 8 different states.  My portfolio is very diversified and includes (7) Value Add Apartment Complexes, (2) Ground Up Apartment Complexes, (2) Mobile Home Parks, and (1) Senior Living Facility.  These investments now generate more income then my corporate job was providing plus offer tax benefits as well.  I am now retired and have plenty of time to do the things I love to do.  I made the right choice in pursuing the Passive approach.

James, I am a new investor in Rochester as well and plan on going to my first FFREIA meeting.  First meeting is free, you may want to contact [email protected] and let her know you plan on coming.

Thanks! Larry, I plan on being there, hope to meet you...

Thanks!  Scott, Frank and Rebecca I will be sure to attend both meetings, I look forward to meeting you all...

Hi James! maybe I'll see you around town...

@Brian Eastman 

Thanks for the advice, I plan on exploring the many other avenues such as Tax Liens, Notes and REI. I know that there are many restrictions, but I have to be careful and smart...

Hi! I am Brian Dowling from Fairport a suburb of Rochester NY. I work a full time job for a major corporation as a Facilities Manager of the largest Critical Data Center in upstate New York. I have prior experience in REI having Rehabbed (2) SFH's and GC'd a personal new SFH construction. I also have owned (2) investment condo's in the past and rented out a SFH.

Although it appears I have a decent background, it has been a while since I have been engaged on the personal side of REI. Due to a combination of events, divorce, condo investing, untimely market, loss of job all within 2 years of one another, I had managed to lose 50 % of my net worth and pretty much through in the towel on REI with the exception of my primary residence. With my family growing I changed gears and focused on my career and invested in the Stock Market for long term growth.

I stumbled upon Bigger Pockets while surfing the Net and have been reading the forums, blogs, and listening to BP Podcasts (so far up to 100), purchased a few books, especially love J. Scotts books on Flipping Houses and Estimating Rehab costs for the past 4 months. I wish I had the benefits of being a Bigger Pockets member years ago when I started, I believe I could have prevented some of my mistakes and possibly been a true REI success story.

I am excited to get back in the game again! With the majority of my assets being tied up in 401Ks and Roth IRA's I am looking into converting those Roth's into a Self Directed IRA with Checkbook control. This will give me the ability to make cash purchases right away without worrying about financing costs. I am interested in flipping houses and then converting them to SFH rentals with positive cash flow

I am very interested in Networking and would love to attend any local Rochester REI meetings or get together's, if any one has any more advice or comments please leave them, I look forward to restarting my REI career.