All Forum Posts by: Joel S.

@Dmitriy Fomichenko @Jessica Zolotorofe @Bernard Reisz @Marian Smith @J Scott @Linda Weygant @George Blower

Thanks all for the good information and advice. Guess I'll just have to keep thinking about other ways to build my BRRRR empire :)

I've found various references to Internal Revenue Code Section 4975(d) and one note that looked kind of interesting was "Receipt by a disqualified person of any benefit to which he may be entitled as a participant or beneficiary in the plan, so long as the benefit is computed and paid on a basis which is consistent with the terms of the plan as applied to all other participants and beneficiaries" I don't complete (or partially) understand what that is trying to say.

@Dmitriy Fomichenko @George Blower @Linda Weygant @Jessica Zolotorofe

Thanks for the comments.  Tried to mention the above poster previously but I'm just learning the ways of the BP forum :)

@Dmitriy Fomichenko @George Blower @Linda Weygant

Thanks for the replies!

My Father has a 401k that he isn't using for income at all.  Next year he will have to start taking minimum distributions from it.

I'm interested in acquiring real estate using the BRRRR strategy. Is there any way to leverage his unused 401k account by transferring it to a self directed account to help with real estate financing?

I've tried doing a few google searches and see some things that aren't allowed.  Was just wondering if there were any creative ways that would allow my Father to help with financing, which I would pay interest on.  Thanks for any feedback!

My wife and I would like to relocate (to the Denver area) but ~5 years ago she convinced my inlaws to move here (Dallas area).  My father-in-law's health has rapidly declined so we don't feel like we can just move without getting them to go with us.  I've been trying to come up with some scenarios that would be good for them (and us lol) but I'm not an experienced investor so I wanted to see what you guys/gals though.

My in-laws currently live in a ~130k house that is paid off.  My mother-in-law is now having to take care of everything (mowing in Texas heat, etc) so it would be nice if the solution would downsize their living space (already pretty small at about 1400 square feet) as well as removed the need to maintain the lawn, etc.  Also because of my father-in-laws declining health it would be nice to budget some amount to make the living space friendly to someone with very limited mobility.

My father-in-law is a veteran (just in case that sparks an idea about a VA loan). Also their only income is his social security / disability. My mother-in-law had to quit work to take care of him because she made less than it cost to pay someone to do it.

So I'm open to all ideas.  I would be willing to purchase something myself as well as long as long as it isn't losing money for me.  I was thinking about the "house hacking" thing that @Brandon Turner always talks about except for the person living for free would be them instead of me.  I was wondering if the larger the number of units (4-plex vs 2-plex) would increase the ability to live for "free".  It would be nice to get a small amount of money to manage the tenants if possible.

I didn't mention just getting them to sell their house here and buy one there because Denver seems to be a decent amount more expensive than here.  Maybe I could just market for a great deal and work it that way...

Thanks for your time / input!

Thanks for the responses.

@John Van UytvenHow do I see the "top post of the day"?  I see something that shows trending posts.  Is that what you're talking about?

Hi!  I'm new to BP and I'm trying to figure out the best way to use the forums.  So I would like to pose the following question to you seasoned BP members.  If there has been a similar thread in the past I would love to see it.

The question: If you only had 10 minutes each day to use the BP forums, what would you do?

Specifically I'm interested in what you would do when you were new, didn't know much about real estate investing or even what kind of real estate investing you were interested in.  Thanks for the feedback!

Thanks Jon.  I was trying to entice either Josh or Brandon to comment and Brandon popped it.  I was a bit surprised honestly.  Took a look at your profile and I was thinking it sure did sound familiar.  Then I saw you were on one of the previous podcasts.  I think I had looked up your office in the the past because I drive right by there on my way to/from work.  I'll give it another listen and see if I have any questions for you if you don't mind.

 Thanks Scott.  I just signed up for the NTAREI mailing list.  I'll keep my eye out for any local meetups.