All Forum Posts by: Erik Carlson

Any advice on buying a property near railroad tracks would be helpful.

Has anyone purchased a property within half a mile of train tracks? Currently in contract on a property that is .3 miles away from some train tracks. If someone else has purchased at a similar distance did you notice a difference with the number of tenants interested in the property?

@Bob Anthes

@Erik Whiting

Great to know, I wasn’t fully aware of all the potential (profit or loss). I’m leaning away from borrowing and the SDIRA because my goal is to go after the accessible passive income. I’ve left one job for another one which is allowing the option to pull it out. Granted yes there are taxes and the penalty for pulling it early, I’m just wondering if long term (I’m 41) I can build a wealthier retirement with real estate.

Hmmm, the option of opportunity zones (putting the money in an opportunity trust) could postpone or even remove the cost of paying the taxes. There’s probably more on that which I need to learn.

Thank you everyone, this is very helpful.

@Steve Vaughan That’s a good point Steve and I think I would just need to be more diligent on looking at what’s out there and the numbers behind the deal, there are still good deals but they can be harder to find.

@John Thedford, yes I have and there is no penalty for taking a loan. The payments to pay it back would approximately equal the same as the passive income coming in so I was looking at options instead of borrowing it.

@Joel Johnson, thank you for the advice.

Has anyone pulled their 401k out (not borrowed) to purchase an investment property? After paying the taxes and penalty, we’re the returns still better or worse than leaving in a 401k? This seems to be dependent on an amount of time before one would retire. If you’ve done this, we’re you in your 20’s, 30’s, 40’s, or 50’s?