All Forum Posts by: Josh Duncan

@Travis Biziorek 

Interested in the resources for out of state investors that you mentioned!  Greatly appreciate if you could send it my way.  Specifically interested in the Detroit area as well.  

Thanks and Merry Christmas

@Paul Novak, 

Thanks for the reply and your thoughts on this. My view is pretty much echoing what you have said. The 401k is a valuable asset but its my thought that I can use this asset to further increase my portfolio by putting that money to better use. Which gives me much more control of the money/asset management than just leaving it in the market for alot more years. I'm just 32 so quite a while before retirement. My plan would be use the 401k kind of like a hard money loan where I'd acquire the property, rehab it, then refinance long term, pay off the 401k loan and get it rented. I have bought 2 properties this calendar year and this feels like the right next step to further me along. 

@Rene Hosman 

Did some research on these options and found some unfortunate news. My retirement system doesn't allow for me to roll anything over given that I'm still employed with the company and also under 59.5 years old. This is very frustrating given that I was under the impression that I could just roll the entire retirement balances over to a IRA and then have complete control to invest that money into properties.

@Rene Hosman

Thanks for the reply! At this time I do not have any money in an IRA its in an account provided by my employer. It is flexible though, in that I can roll it into any IRA at any time. I've been looking into this very thing! I am unfamiliar with being able to roll it into an IRA and THEN be able to invest it into properties. Very interested in this!! That was my whole reason for the post, trying to figure out how to use my sizeable retirement account to my benefit to grow my business of owning/managing rentals.

Hello all, I'm working on trying to grow my rental business and looking at different avenues for funding. My situation currently is I have 1 SFH rental that is owned by my LLC and doing well, and also I'm doing a live-in flip on my primary residence. I'd like to add another SFH to the business in the near future with the main goal being grow the business as fast as possible. Been looking at hard money loans, and also looking at doing a 401K loan from my w-2 job. Anybody had any dealings with this?

Thanks!  

Josh Duncan

Not extensively, but still considering that to be an option. I'm working on a cash out refi on my current rental in order to secure down payment funds. 

I'm in East Tenn area. 

There will be some minor repairs needed on the property. LVP flooring, paint, etc.  Wouldn't take much to get it rent ready. 

Hello, I have 1 residential rental currently in my own personal name. I have just created my LLC a last week. I have an opportunity to purchase 2 homes that are side by side that need a little bit of work (minor stuff) for basically the price of one in my area. I feel these would make an excellent next move for me. Now I just need the funding......

Thanks.

Hello, I have 1 residential rental currently in my own personal name. I have just created my LLC a last week. I have an opportunity to purchase 2 homes that are side by side that need a little bit of work (minor stuff) for basically the price of one in my area. I feel these would make an excellent next move for me. Now I just need the funding......

Thanks.