All Forum Posts by: Georges Martin

Thanks @Shayan S.! I'm actually waiting for some potential comps in the neighborhood to sell. After that, I will certainly pull some money out! 

My wife and I bought a quad last year (our first rental property), and it's doing really well for us. We'd like to repeat, but prices are rising and saving for the large down payment is slow going. Since we are both 50, I feel like we don't really have the luxury to wait for another large MFH. I'm starting to think we should scale down and include duplexes and sfr in our immediate plan. Then, when we're 'work optional' we can think about shuffling some of that equity into larger buildings. Does anyone out there have thoughts on this? Thanks for listening!

Thank you @Dmitriy Fomichenko!

@Metra Ulloa Thank you for the info. I'll give Ally a shot. 

@Dmitriy Fomichenko Don't I need to be self employed or have a small business to qualify for a self directed IRA?

Me again. Still plotting my escape from the corporate overlords. Haha. I've signed up for the 401K my employer offers. I'll contribute 6% which they'll match. 

I don't qualify for a solo or self directed 401K so I thought I'd roll my old 401K (roughly 26K) into my new one and eventually take a loan from it to buy rental property. Good idea or bad idea?

@Blake King

I just started looking into an Ally online savings account. It's FDIC insured and they say they can offer 1.5%. Better than the .2% that I'm getting with my credit union! Has anyone had any experience with them?

I just purchased my first property in KC with the help of Matt Popilek at Clemons Real Estate and am very happy. Clemons will rehab and/or manage the property for you too. Feel free to PM me if you have any questions. 

@Kristopher Hanks, I know this thread is old, but would you mind messaging me the info that you sent to Justin? I am in exactly the same boat and am not quite sure where to start. It would be greatly appreciated. Thanks!

Thank you all for your very informative responses! @Justin Windham, I've considered investing in notes. Would I be able to invest in crowd funding as well? 

Also, after I open an account, aren't there more fees? I spoke with someone a while ago who said they had a $350 annual fee. At least that is what I remember. That would most likely kill my profits.

Thanks again all!