All Forum Posts by: Joseph O'Sullivan

 Hamp,

When you say 3 VA loans, was that because your combined purchases were below your VA loan threshold, or was it that your rental income paid down the VA loan opening that money up for use again as a new VA loan?

Thanks.

Sincerely,

Joe

Hi All,

Does anybody out there have recommendations on books or other tools for educating your kids about real estate investing - (high school and college ages).  If I knew then what I am learning now, I might be in a whole different situation at this point in my life.

What books or tools have been successful to get the 'penny to drop' for your teenagers and which ones fell on deaf ears?

If I can get them interested, they may understand what I am trying to do and may be more open to absorbing the lessons learned that I know are coming.

Finally, any success with the RichDadPoorDad game called 'Ratrace'?  I read about it years ago, but would want to hear some feedback before I consider getting it.

Thanks.

Sincerely,

Joe

 Raymond,

Thanks for the encouragement.  I appreciate it.

Sincerely,

Joe

 Matthew,

Thanks for the great insight on house hacking.  My current situation does not support house hacking, but maybe I will be able to try it some time in the future.  I definitely like the idea of room mates helping to pay the mortgage (or even covering all the mortgage), so I will keep awareness and learn more about it, so I can follow that approach then the situation allows.

Sincerely,

Joe

 Thanks Andrew!

I appreciate the encouragement.

Sincerely,

Joe

 Nadeem, I have read about out of state investing and may consider it as I go forward.  I will check out some properties in Cleveland and let you know if I have any questions.

Thanks for the insight.

Sincerely,

Joe

 Great advice and insight Josh,

Thanks for the feedback.

Sincerely,

Joe

Hi All,

As I look at my options to finance my first RE deal, I was researching the early withdrawal penalty from TSP (Federal equivalent to 401K) and just learned that I can take out a TSP loan with no penalty, no tax impact and just have to pay it off with interest (seems to be 4-5% range right now) within 60 months.

I understand that there will be impact to the compounding of the TSP funds that I pull out for the loan, but I am speculating if I can buy the right real estate deal, it may offset that impact and get me on the path to accumulating more real estate via BRRRR that will more than compensate in the long term.

This would be a general loan from my TSP to fund the down payment for the bigger loan to buy the property .

Has anybody had either good or bad experience with this?

Pros and Cons or this approach?

Thanks for any feedback

Sincerely,

Joe

I was about to ask a similar question (and still will due to the current economy), but appreciate the discussion on this thread about the pros and cons and level of cash flow required to make the early withdrawal penalty worth it..  Thanks for the insights and hope it worked out great 4 years later!

@Mike Scheeler
@Adam Rasmussen
@Chris Levarek
@Duane Brown

Thanks Michael,

I appreciate the feedback and insight.

Sincerely,

Joe