All Forum Posts by: EJ K.

@Justin Windham

How much could I shelter in your program if I moonlight As a physician? Could I contribute everything as an employer? Thought would be to maximize the tax shelter

@Steve Chan I calculated that if I max out my and my wife’s 401k we would have 4.5 million in it assuming standard returns. Assume a 4 percent draw down and that’s 180 k a year. I also would only get to see about 65 percent of the money that I didn’t put into the 401 k if I didn’t. The 401k is supreme to me over real estate given me w2 Job and the value is brings. Real estate is a hobby and just icing on the cake. Also a good tax shelter. It’s nice to buy expensive appliances and say they are for rentals.

Not doing 401k is a mistake.

San Fran, Seattle, Denver, Austin? What are your thoughts on places with technology as a large sector doing? Some are moving to allow permanently working from home. Hence homes and commercial might dip? These people could work abroad if they wanted to with these changes. Just a thought.

I have a resident physician in my condo and will keep it within their residency once they graduate. So I’m getting paid still :)

I started 2017 with 500 k in student loans. 

I entered July 2020 about to finalize on a personal mortgage for another 550.

Inbetween I used physician loans to net a condo that cash flows +400 a month over expenses.

I also am moving out of a townhome i bought with a physician loan and expect to net +200 or so after expenses.

I owe a combined 250 on both those rentals.

My wife is a student and owes 350 k in student loans.

I still plan on maxing mine and her 38000 k a year to traditional 401 k and paying down her student loans first. After that, I will probably pay down investment properties and then start investing again.

We have 1.5 million or so in debt. Stressful yes, but I am confident we can pay it back. The tax payers will pay my debt of 500 grand as I am limiting my scope of work to only the public sector. However, we moved to a better area to practice medicine and will make close to 400 k each a year once she is done.

Its all situationally dependent. I could truly never have owed a rental property and just maximized taxable accounts and been comfortable in life. The properties are a fun hobby. 

Update: walked away, contingent on a current build. To worried about appraisal in this climate

@Edwin Williams

White coat investor.com has a lot of info about them. Not hard to find. Not just a website for doctors but one for anyone with a high w2. Goes over lots of necessary things.

@Edwin Williams

Physician mortgage. Stable high income earners qualify, ie some lawyers, pharmacists, etc. Payment will be right around 3400 a month. I think some of the physician loans are even drying up but first fed of Lakewood is still running. A lot of physician loans will take 0-10 percent down with no PMI, rate is slightly worse than conventional but it's still nice not to have to shell out 100-200 k to avoid PMI. Another perk is they don't count student loans the same way a conventional would. Just 0.5 percent of your loan is monthly payment or what it would be under repay/paye. Debt to income ratio as high as 50 percent too.

I’m currently waiting to close on a primary residence. 0 percent down, no pMI, 3.49 percent, 565000 loan amunt, 30 years.

@Tony F.

I can get appraisal on the house before it’s built based on specs. And it’s good for 12 months