All Forum Posts by: Isaac Martinez

Thanks for replying. $60,000 is the gross amount pension is taxed and I figured i'll be taking home around $3000 a month. My retirement date is not too far off which is one reason I struggle with hanging up my badge. 

I feel investing the money in real estate would bring a better return.  Also a lot of states are struggling with their pension programs  mine included. 

Hi I have approximately 8 years left to retirement I will be 44 years old when I can start pulling my pension from my law enforcement job. At my current pay rate I will gross $5,000 a month in retirement from my pension. I have considered quitting and investing my pension into real estate using the BRRRR strategy. As of today the cash out value is $80,000

If I live for 40 more years I will net approximately $1,440,000 from the pension. What would you do? I am looking for advise. 

P.S. I have no desire to work towards obtaining rank in my current agency. 

Thank you for the prompt reply. I am the only one on the note, there is no second. 

Hi my first investment condo is going to foreclosure sale this May 2018. I had the condo and carried the loan for a guy for several years. During November/December 2017 he defaulted and left tenants inside the property. I eventually got the tenants out, got the deed back in my name after paying the fees, and now the mortgage company wont work with me because its too close to the sale date. I didn't reassume the loan at the time he defaulted because I had a business venture that went belly up at about the same time. 

I thought about owner financing it but I also just found out the HOA fees were not being paid when he was land lording the property and the fees are about $5,000 now. I've reached out to wholesalers to see if anyone wanted to take on the property but no call backs. Here are the numbers. Any advice on what to do next? I don't want my real estate investment journey to come to an end before it even gets started.

Closely estimated numbers

Value $47000

Principle owed $33,000

Payments in arrears to lender plus fees $13, 000

HOA arrears $5,000