All Forum Posts by: Nicholas Jasmine

I would look a local banks or credit unions.  That's how I'm getting financed for my next purchase.

buy my second rental property and increase 401k balance to 350k.  Also, I want to buy a vacant lot to make my backyard bigger.

just remember when you invest with 10% you will need to factor in PMI into your budget. PMI could make or break a deal.

None.  I see no reason to have a negative cash flow property.

if this happens rental incomes should drop a little because their will be less people in the market for rentals in those select cities.  I work in the oil and gas industry (Gulf of Mexico) and there is a slow down with the decline of oil prices.  Like anything else everyone just have to weather the storm.

in my opinion, 401k's should be a part of most people retirement portfolio.  Here is this reason why "Compounding Interest." If anyone runs a retirement simulation they would see that for the average person the 401k program can not be beat.  Example of what I did at my job I worked to max out 401k, 17,500 yearly, after I accomplished this I started investing in real estate.  Yes, I started investing in real estate a little late (31), but I will be a millionaire because of 401k around the age of 48.  Now all of this also depends on your retirement goals.

Im definitely #1.  Full time job is how purchase my properties.  Maybe by the time I'm 50 I could be a #4.

I think planning is key because all the execution in the world could lead to lots of bad deals.

Not participating in a 401k is bad advice.  401k is before tax contribution, and plus you get dividend based on what holdings you have.  This investment vehicle has made many people that I know and work with millionaires.  IMO, not participating in this is like not paying social security and medicare taxes.  Something to think about.

This is something I have to focus on as well.  Learning how to do many task will save thousands of dollars.  Me and my wife will take on this task of learning as much as we can about house remodeling.