All Forum Posts by: Eric Hamilton

Hey everybody I just want to get some perspective of some people from the St.Louis area. I am from Denver and looking to invest in St.Louis. Seems to me like a good market to invest in for the most part I am just trying to see is there anything that make it undesirable for people to invest there.Ive found some midwest cities have interesting tenant laws such as Chicago that make investing a little more of a hassle than others. Anyways appreciate any advice people are willing to provide and thanks in advance.

Ok that makes alot of sense Justin so you are saying that ideally you have two separate funds that you invest in with this type of system one that goes toward your retirement and one that goes toward you but immediately.I ask this mostly because Im just looking at reducing my taxes ideally from my job.  Sorry if I sound like a newbie because I seriously am.Haha but that makes alot more sense to me now that you broke it down like that.Thankyou

Thanks Justin,I just recently joined a networking marketing group that does genrate me a 1099 nothing significant at this point it's more or less something on the side to grow my own business.Most of the income would come from my employment since I don't have any real estate other than my own residence at this time. Another thing I am wondering is I am also wanting some cash flow early on of my investments to replace my job income.What kind of penalty do you get for taking money out of solo 401k? 

Thanks everyone for the insights and other blogs to look up on. The big reason I guess I am asking is I want to be able to contribute a large potion of my income from my employer pre-tax and then turn around and put the money toward investment properties to avoid paying higher taxes is this also possible? With the solo-401k it sounds possible but do I already have to have a business or do I just setup a LLC when I buy my first property? Thanks again for the info I had no idea about the solo-401k sounds like a good deal.

Hello everyone wanted to ask a few questions in regards to setting up a SDIRA. I have a 401k with one of my employers not much money in it only like 2 years old. I wanted to setup a SDIRA when I do my first investment but wanted some more information on the subject.

1.)For starters how much is it to setup a SDIRA with a LLC?

2.)Can you borrow money against a self-directed IRA to invest and are there any downsides to this?

3.)How much can I contribute to an IRA from my paycheck?If so does the money come out pre-tax to reduce the amount of taxes I pay from income?

4.)Is there any benfit over having a SDIRA for real estate over a 401k?

Thanks for all your input and help-Eric Hamilton

Can anyone recommend me to a good bank or loaner that does a VA IRRRL which is a interest rate reduction refinance loan. I had got some offers in the mail from out of state loan companies claiming I could save about $300-$400 a month on my current VA loan which I have only had a year. Just want to see how much cash I could be saving a month by getting multiple quotes from other companies so far I only have 2. Thanks for any help.

Ill be there sorry I missed the last one I forgot it was a week earlier due to memorial day.

Tonights meeting was really cool thanks for all who went.Whats with all the nay sayers from Texas.Im a born and breed texan myself but I know why I left that state after I graduated now im too much of a free spirit i guess colorado has cursed me lol, I realize ur giving me advice but what I'm asking for been before. In fact I spoke with a man at the meeting tonight on how to structure a deal with no money down. And its really still in the bankers power to approve u or not. A lot of it is how uapproach lenders and show that u did ur homework on the property vs going in unprepared then get shot down.

Hey thanks everyone for their input. Yeah Miki its tough in the beginning because lots of lenders are real weary of new investors.And prolly for good reason. Ill also be at the meetup tonight. Got a lot of questions I wanna ask people.Good advice too Joe I agree u will have better access to funds in that scenario. I just wannna be as creative as possible and use other people money. Instead of my own u know. But in the start it might just have to be my money

Hi Im looking into investing out of state in a local area that I grew up Roswell, NM.I know UFO funny right? Just looking at home prices there is real encouraging compared to Denver. Reason being is I just bought my own house with VA financing and I barely qualified to get into the place i am in now. I feel that if I want to invest it has to be something quite a bit cheaper than around here.Because I can only imagine how the conversation with a lender is going to go once they see I already have a house that I can barely cover.What is everyones thoughts on doing something like this or am I just being overly to cautious about approaching lenders?