All Forum Posts by: Fernando E.

@Arianne L. Awesome story! 😄 May you have more success! Inspiring 😊

Hi BPers,

I've been reading up and revisiting Uncle Robert Kiyosaki's books and listening to his videos. His lessons on 401K is really interesting and against the traditional teaching. Basically from my understanding , Uncle Robert doesn't believe in 401K and suggest that it's better to just invest in REI and control my own destiny rather than the bankers and wealth managers in Wall Street that gambles with my money 💰 if I participate in a 401K program. I take all the risk, I put up all the investment and they get paid regardless of the outcome, doesn't seem fair to me.

Theoretically, if I can find a solid investment property or properties, with a return that is higher than the penalty ie 15% vs the 10% penalty for distributing early, it’s a sound decision. Further the triple benefits of loan pay down (if rented), cash flow (if positive), and tax benefit (Mortage Interest if financed) makes this a seemingly smart move. But again, it have to be a good deal and of course, money distributed is considered taxable and will be tax against my current tax bracket.

Anyone took this route? I thought some of the BP guest took this approach and it went well for them, will appreciate your input.

Thanks in advance 🙏

@Sean Rooks congrats! Great attitude, I'm sure you will have more success down the road, cheers!

thanks very much @Steve Rozenberg, much appreciated

Hi BP friends,

Any recommendations for property management (pm) company in Visalia, CA? A quick yelp search showed me the following potential Pms:

1. Evans

2. Total

3. Mid-Cal

Thanks in advance!

Hi BP friends,

Any recommendation for a great property manager in Fort Worth and Dallas?

Thanks all 🙏

@Anthony Gayden man, nothing to be embarrassed about, you got gutz to owe up to your mistake, dig out of the hole you put yourself into and became wiser and stronger after all said and done, great job bro! We all find ourselves making mistake in money but what’s important is the lesson learned and the action taken thereafter to fix the problem. Cheers!!

Hi BP Family, 

I  live in one of the suburbs in the SF bay area, I spent a day and a half in Dallas Texas for a presentation at a client and my plane just landed back home here in Oakland a few hours ago but I can't shake the possibilities of investing and ultimately living in Dallas Texas. It seems that the tech hub is growing, my firm has a strong presence there and can potentially open doors and I like the culture base on feedback of friends who moved  in Texas. 

My plan is to invest there, buy and hold in a nice area, ideally it should cash flow well and have equity, and the second reason is to get a foot hold in Texas without uprooting myself and future family until I do further due diligence. 

I will very much appreciate your input on the Dallas Texas market, where to invest and if you have any connections for realtors and lenders. I would also love to connect to the Dallas Texas investors in the forum. 

Thanks in advance friends!

Best regards,

Fernando

@Johnny Situ awesome story of success - challenges - And overcoming them and gained more success! Love the drive and mindset. I also like how you rebounded when the trading didn’t pan out, instead of crying over the loss, you focused your energy on activities that served you in the long term like reading books. More success to you man! Cheers 

@Teri Feeney Styers and @Scott Smith thank you both for the very helpful response. I'll follow your advice and make sure that I separate all transactions succinctly using software or book keeper. I don't plan to pay myself at the interim and have all the revenue in the business. Thank you both!