All Forum Posts by: Kristen Martin

As usual, I'm completely impressed with the wealth of knowledge on this site. Thank you all for your input! 

We'll be looking into the self-directed IRA and loan on 401k options.

thank you all so much for the input! @dianegu...I'd like to replicate your results ;)

@Johnc....

Our retirement isn't sending us a monthly check. We're 20+ years from retirement...I'd rather have more control of our money than wait decades to see it. 

I should have included this in my original post:

We're 36 & 38 y/o

Have a combined income of $130k/yr

Have around $100k equity in our primary residence. 

My husband and I have separate 401k accounts through our jobs. The current balance on them combined is around $140,000. We're contemplating cashing them both out to invest in multi-unit rental properties. After tax and penalty...we'd have just over $90k. Are we being brave....or stupid?

thank you all so much for the advice, and validation. @Kevin H., unfortunately, as we've begun the process of unpacking...we've discovered even more items missing :(. This has been far and away the oddest re transaction I've been a part of. We're  ding what we can to quickly follow up with the situation...even if we have no expectation of reclaiming our losses.

@Lisa Ryan....I Couldn't agree more. If I hadn't been so taken aback...and holding my infant in my arms...staring at all my belongings thrown into boxes....He surely would've heard my opinion on the matter! I lost a little faith in humanity that afternoon...I need a positive experience to counteract it ;)

Thank you @Coleen F., that's a helpful tip!

thank you @Daniel Preston and @Bob Baldwin. I think we'll end up eating the cost and not filing a claim. I think I was hoping for an option that included some sort of recourse with the new owners since I feel like they completely violated the laws Of human decency. An expensive lesson learned in scrutinizing contracts and trusting agents for sure! Thank you for the advice gentleman.

Okay, here's my terrible transaction story: My husband and I listed our house for sale in early March. We immediately found a home we loved and wanted to purchase, so we made an offer, contingent upon the sale of our home. A few days later, we received an offer, 2k below asking...we accepted. Full steam ahead. The appraisal for our house came back 20k under our sales price...which was crazy. Our house was priced very well. The buyers said they would only offer the appraised value, so our deal fell apart. A few days went by....they contacted our agent again to say that they still wanted the house, but only for appraised value. Thank you, no. Another week passes and they decide to offer 5k below our original accepted sales price. Under the gun to keep our new house....we accept. Our agents drew a new contract....and neglected to mark the box saying we'd need 3-5 days after close of escrow to vacate.(our original contract had it, so we assumed the new one did too. Never assume) So.....The buyer is furious the day of closing. They demanded keys that day. ...but we, obviously had too much work to be able to vacate that day. On top of that....Our new home hadn't closed yet! So, we recorded the next morning, I got the keys, and started bringing stuff over. About midday, I get a call from my agent saying the buyer had found a way into the house and was planning on packing up the rest of our things himself!! My husband and I rush home to find him there, with the locks changed., throwing our belongings into boxes. We had both our daughters with us, and didn't want to frighten them so, we calmly asked when we could pick up our things and be gone. As we started to look around....we noticed that several of our big ticket electronics were missing.  He claimed that the door was open when he arrived,  and boxed everything that was in the house.  We played along...but I had serious doubts about his story. We immediately filed a police report...and are now preparing to file a home owners ins claim. This story is a tangled one...what path do we pursue? 

Also, @Angelo Behar ....extra points for well placed puns! ;)

Thank you @Angelo Behar , @Fred Heller , @Elizabeth Colegrove , and @Ellis San Jose ....your insight is appreciated! Most of you confirmed what I had been suspecting, but will definetly keep my eyes open for a place similar to Elizabeth's described scenario. Thanks again all! :)

The area that I live in gets quite hot in the summer...we're talking over 105 for several weeks. Part of our investment plan includes us buying a SFR, that we will live in for 2-3 years, and either rent out or sell at the end of that time. My question is...how much of a burden is it to rent a place with a pool? I'm sure there is extra insurance involved, not to mention the maintainance. Of course my family would LOVE to enjoy a pool in our backyard for a couple years...I'm wondering if it will be worth the trouble down the road.