All Forum Posts by: Evan Bonnell

Crazy to hear about the fraud charges! I was guessing leverage came back to bite him since rates adjusted, but not this.

@Joel Owens link to your book? I'm very interested in reading and learning more. Also can't find your podcast on Spotify, what's the official name?

What happened with Matt Onofrio? Was looking forward to reading his NNN investing book that was supposed to drop months ago.

Radio silence from Matt on his Instagram. I'm hoping his 90% leverage didn't come back to bite him.

When does this book drop? Seems it should be out now. Radio silence from Matt.

I was wondering this myself and found your post. 5:1 is probably okay when you're growing as long as you're cash flowing and living frugally.

As my portfolio grows I'm thinking I want to be quite conservative. 60% debt, 40% equity is the most levered I want to be. This will slow growth but also force me to find below market deals and value add opportunities. 

Great tips! Especially wiring the bath fan on the same switch as the light.

I prefer white appliances. They're cheap and can be repainted with white appliance paint by Rust Oleum.

Hi Mary, I too considered withdrawing from 401k to purchase real estate, but ended up not doing so. Below are some of the reasons I decided not to do so. 

First, interest rates are historically low. It doesn’t make sense to me to borrow money from 401k and lose out on 6% gains, plus penalties, when I can borrow money for RE and pay 2.875% interest. 

Second, I have equity in RE that I can tap for the down payment on purchasing more RE. 

Third, I like to keep $ in my 401k should anything go wrong with my RE investments, kind of like an emergency fund (in addition to my cash emergency fund). 

Hope this helps you make a decision. I wouldn’t recommend borrowing from your 401k if you have other means of down payment. And I don’t recommend paying cash for a RE purchase in an era of (almost) free money aka historic low interest rates. 

@Account Closed thanks for providing the best guidance on EIDL I've seen anywhere!

I did get my loan funded. Only $4700 because that's what I entered into the losses category. I wish I would have entered $25,000!

I did submit an inquiry on how to request more, not holding my breath for a response.

@Account Closed Thanks so much for taking the time to upload this!

Looks like we should have our CPA's take a look at the terms and conditions to make sure we plan utilization of funds properly and prepare for potential audit.

If I get the loan, I was planning on using for business expenses such as mortgage payments, RE taxes, etc. Is this allowed or can I only use it to offset missed rent payments?

@Derrell Thomas any updates on the loan?

Good for you! Happy to see other RE investors benefiting. Did they give any details on terms and conditions? @Account Closed