All Forum Posts by: Jared MontBlanc

Dmitriy Fomichenko

Thx! Dmitriy Fomichenko if you have any info about solo 401k in real estate I'd be very interested. My wife is self employed and we are looking to min tax exposure and leverage our dollars in the best way to acquire property.

You always hear that cash is king, but do you really get better deals and if so, can someone tell me how to best leverage your cash for the best deals? I get that cash on hand is great for rehabbing larger projects but are their ways to leverage the cash for better deals on the buy? I'm thinking of city auctions, distressed quick close, etc but not sure if I'm missing something else more straight fwd. Also, on a related note, although I have a respectable amount of cash to work with, I'm considering a refi on my current home to pull out more to help in acquiring more property (why should the bank get to hold the money!?). Is it a bad idea to do this given closing costs incurred and the increased monthly payment of +$600/mth since my net loan amount will now be higher? Interest rate will be about the same. It'll be about $100k in equity to pull out while still leaving 20% in the home. Thx in advance, BP. Jared

We own a house in South Lake, and are renting it out as a vacation rental (first year). The winter was great but snow removal and hot tub was a challenge to manage and cause some small issues managing from abroad. We will likely turn a small profit this year, around 8-10% but we also used it for over 4 weeks, so that's nice. The key is to find reliable local and dependable help, then get smart on managing it yourself. The PM co's will eat your money quick in my modeling so we opted out. Another bit you may consider is trying to get it furnished. This will save you a ton of time and money, but character is key to stand out. We started booking before we closed since it was truest turn key being furnished and all, and just provided our own small touch. We even used the pics from the mls ad and bought the property site unseen. We love it though and are considering another purchase.

I've been "house hacking" through several properties I've owned and sold since 2004. Over the years, I've read many books on real estate investing, trainings, etc with the hope of making it happen as an investor but then I got a new job, moved, and had 3 babies in pretty close succession which delayed my plans a bit. Currently, I own a home and live in Pleasant Hill, CA where I have converted the in law unit into a completely separate living quarters with yard and driveway, which delivers $1,200/mth. We also recently purchased a home South Lake Tahoe that we turn as a vacation rental. We are looking now at much more of a dialed in strategy for acquiring and managing income generating properties, and would like to dive in with a MF as soon as possible. I currently work full time in tech, but my wife and I are very passionate about real estate investing and find that it's taking up most of our free time recently, mostly because we are excited about learning and eager to dive in more aggressively. Since my wife is self employed, also very interested in how to maximize solo 401k for use in acquiring properties. It's key we find a CPA asap that can help us properly structure our existing investments and plan for the future, so please let me know if you have any recommendations. If anyone is in the area, I would love to meet up and connect, so please reach out. Happy to be apart of the BP family and hoping that the next 12 mths gets us closer to our goal of independent financial freedom! Thanks all and look forward to connecting. Jared