Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: George M.

George M. has started 1 posts and replied 53 times.

Post: Is a 457 or 401k beneficial to me

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

@Chris Breezy

Hey Chris,

In addition to the benefits already outlined above, the 457 has no penalties for early withdrawal which is more flexible than the 401k. You would have to pay income tax since it is considered deferred compensation, but no 10% early withdrawal penalty.

There are also some tax deduction phase outs when your income hits a certain level. Contributions could be used to get your AGI under those thresholds and qualify for the deduction.

Post: When real estate values fall, what asset type goes up?

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

@Billy Smith

I bonds are a solid pickup right now for small amounts (10k max purchase per person per year). Boring is exciting.

Post: landlords, what major should your kids study?

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

@Tina Lee

Engineering, IT, cyber security, nursing. In demand careers with low barrier to entry

Post: tenant put hole in my floor, flooring discontinued

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

Could also try this

https://www.amazon.com/Mohawk-Finishing-Products-M320-0007-Stick-Light/dp/B00BOTXIBY/ref=asc_df_B00BOTXIBY/?tag=hyprod-20&linkCode=df0&hvadid=241964178700&hvpos=&hvnetw=g&hvrand=734670541236204422&hvpone=&hvptwo=&hvqmt=&hvdev=m&hvdvcmdl=&hvlocint=&hvlocphy=9004624&hvtargid=pla-464585117698&psc=1

Hopefully the link works

Post: Tenant caused damage and is trying to Jedi mind trick me

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

Blinds are $25. Just put in a new blind. Is someone not going to rent the place because a blind doesn’t match?

Post: Kid going to University of Albany next year

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

@Jon Spisak

It’s very street specific, as is the case with most locations in a city. “Out of control with crime” seems like a misrepresentation of the area.

Post: Recommendation: Paint sprayer

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

@Andy Sabisch

+1 for cleanup. So many buckets…but for the right application it can’t be beat. I also pitch my rollers. Not worth it for a couple bucks.

Post: Recommendation: Paint sprayer

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

@Kristopher Jarreau

I picked up a Graco X5 on sale over Independence Day. Very pleased after painting a stairwell. It worked really well because I could add extensions that allowed me to reach the high point in a curved stairwell which would have otherwise required scaffolding. Ceiling and walls got blasted the same color (otherwise scaffolding would have been required to cut in).

Just be aware that overspray will cover everything and it’s great for certain applications but not everything. I’m still going to roll walls inside units.

Post: Under Contract and Basement Flooded. Now what?

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

@Amanda Schneider. Negotiate or walk. Or both. You still have options until the closing is final.

Post: Dump Your Real Estate Agent

George M.Posted
  • Rental Property Investor
  • Albany, NY
  • Posts 55
  • Votes 65

I consider myself a savvy investor. I have completed many deals and own many investment properties. Some I self manage (for my enjoyment), others are through a PM (my time is very valuable).

My agent has provided way more value than they cost. Off market deals, contractor networking, feedback on when I’m pushing too hard, feedback on when I’m not asking for enough. Sure you can write it off as “you’re not as savvy as you think”. You’re right, I’m not. That’s why I pay a specialist who does this every single day to close deals.