All Forum Posts by: Justin Brown

I'm still confused, @Brian Eastman and @Dmitriy Fomichenko both seem like smart people, but aren't your opinions opposing?? Brian, you said that @Cody Stone would be taxed twice with a 401k loan. This makes sense to me because although the money that you pay into your 401k was never taxed and it isn't taxed when it's taken out, the money is repaid with AFTER TAX money and then TAXED AGAIN as it is disbursed during retirement. 

Two questions: (1) are 401k loans always paid back with after tax money or can the 401k loan be repaid with pre-tax money just like other contributions? (2) If the money is in fact being taxed twice, is this loss offset by the fact that this is basically an interest-free loan (you're paying yourself back the interest instead of another third party)?

Thanks for the tips @Billy Au-Yeung. Unfortunately, the listing has been taken down so I can't find the listing agent (and I don't believe they are still under contract). I was thinking I would just send a letter to the owner directly...

Hi, 

I was wondering if anyone has experience contacting a seller that has recently taken their house off the market? I noticed that there was a duplex for sale for nearly a year and it was recently taken down. It hasn't sold, and I was thinking about contacting the seller to see if they might consider seller financing or a significantly lower purchase price. Any suggestions. I see the PO box on the Assessor's site...

@Percy N. and @Steve Vaughan thanks for the great advice.

@James P.did you end up passing? how long did you end up studying for after your completed your courses?

@Account Closed mentions above. also, btw, the deal isn't in CA.

thanks Erik for the note suggestion-I've already started looking at templates online. that seems like it would be the easiest solution. and your advice about keeping the rate higher than bare minimum makes sense because I want to leave the door open for future opportunities with the lender/friend.

@Account Closed thanks for the feedback

My goal for now is to not have a long term partner, so I'd want to pay him back in a year at the latest. So say I want to pay him back in 8 months with a small return. How should I determine a fair return (interest to pay him)? And should I draw up a contract myself or is this something I can find a template online for work with some type of third party on?

Hi BP forum,

I was wondering if someone could help me out or point me towards resources that address how investors work with partners to finance buy and hold properties. Specifically, this scenario: I have some cash for a down payment on a buy and hold property, but the money I have will only cover about 75% of the down payment, so I'm considering partnering with a friend who would give me the remaining amount in cash. He would give me a small fraction of the down payment and I would pay the rest and handle all of the other aspects of the purchase and maintenance of the deal once it goes through. 

My question is this: how do investors usually arrange to pay this friend/lender back? I know there is probably not one answer to this question, but I'm trying to get a general sense of how people make these arrangements. Would I just tell him I could pay him all his money back in a year (which would be easy for me to do financially)? Should I pay him back on a monthly basis with interest as if this were a regular loan? Should we split the cash flow over the full term of the mortgage since he is a partner??  

Any feedback would be greatly appreciated.

@Jesse Doyle did you end up getting a place in Rochester?

Did you end up buying anything from one of the fifty?