All Forum Posts by: Kristi K.

Quote from @Account Closed:

Re:venture consulting
 

Total click bait. Doom and gloom sells in uneducated circles I guess🙃

@Victor Hoffman You need to research the rule of 55.

What is the rule of 55?

The IRS rule of 55 recognizes you might leave or lose your job before you reach age 59½. If that happens, you might need to begin taking distributions from your 401(k). Unfortunately, there's usually a 10% penalty—on top of the taxes you owe—when you withdraw money early.

This is where the rule of 55 comes in. If you turn 55 during the calendar year you lose or leave your job, you can begin taking distributions from your 401(k) without paying the early withdrawal penalty. However, you must still pay taxes on your withdrawals.

Not only does the rule of 55 work with a 401(k), but it also applies to 403(a) and 403(b) plans. If you have a qualified plan, you might be able to take advantage of this rule. You can verify the status of your plan by checking with the Summary Plan Description you received (or can access electronically) for your workplace retirement plan.

P.S. - I left the corporate world at 55 in 2016 with a 7 figure 401k and it will be an 8 figure 401k in another few years because of real estate. Don't let people discourage you that you shouldn't pursue real estate in an IRA…. Listen to Brian too, he's one of the best things about Bigger Pockets. Best of luck.

When you go to sell it it will have to have a clean title or you will have to sell it for a discount. 

No one in their right mind would pay you what it’s worth without a clear title.

@Rachel Kelly Flipping is for pancakes, buy and hold is what makes you wealthy in the long turn. 

Quote from @Eliott Elias:

Doing projects in these neighborhoods is one thing, holding them as rentals and managing them is another. I refuse to keep rentals in D class neighborhoods, especially if they’re built pre-1970.

@Joshuam R. For the love of realness... Where is the dislike button for forum posts? 😂😂😂

@Jeremiah Dunakin @Bruce Woodruff

Maybe that makes me the contractor then😂

Quote from @Mike Wood:

@Philip McPherson As an investor that builds 2/1 duplexes, I can tell you that building a house for $65.88/ft2 is not possible. 

The last time I built for ~$65 a sq ft in central Texas was 2008. 

Quote from @Melanie Thomas:

In my opinion, providing a microwave isn't significantly beneficial. 

This is absurd. Provide a microwave! If you are a good human being in a position where you can afford an extra house for someone less fortunate than you to rent you should provide them with the same quality of life as you have. A microwave costs nothing these days. No wonder landlords get a bad name🤯

You need a real AC company in your tool belt. My AC guys have my problems fixed within 24 hours.