All Forum Posts by: Miguel Ochoa

@Wade Kulesa I struggle with this as well, but one option that you have not mentioned is partnering up with someone who can pay all cash. This way your not in debt, property is free and clear if it’s a flip or buy and hold. Just have to find a win win for all parties involved.

Hello BP

I am currently doing a cash out refi on my primary residence and am now thinking of moving and buying a new place. I would rent my current house. Is there any time restrictions on how long you have to wait before qualifying for a new primary residence Loan? I would be using the money form the cash out refi for the down payment on the next property. Thank you

Yes he is a license contractor. The foundation was poured and is not level. It has about a 2” drop and is noticeable when doing the bathroom to the ceiling where the top tiles are not even. 

Just to follow up, yes I have paid him and not sure what my option are to get it fixed he claims “it’s fine not a big deal” just want to see what you guys think is the best way to fix this? 

@Sandy Gabin cool. yeah i currently have it all primed and like the bright. i will sample this color thanks. 

Hello all 

what color gray are you guys using? 

@Collin Vosburgh I think the question you should ask is if anyone has ALL there real estate paid off and do they regret it? I am big fan of Ramsey a lot of people have there input without actually reading the book “They heard” and I constantly have the debate of leverage or pay off properties. 3 years ago we paid off all debt except the house and I do not regret it one bit( even if I could of invested that money) And I realized that you will not be in a bad place if your properties are paid for in cash, Could be a different story with a loan. the hard part that I struggle with as everyone else I know in real este is to have patience. Partnering up with someone is a good way to get into properties without the debt. Investors I know that have paid off property would not take out loans because they are in a good place and have really good cash flow.

Thank you for your input Jacob, I think we definitely Live below our means and all the cash I am saving I have been putting into finishing building the second house. The plan is to save for a down payment on the 3rd property  all cash flowing and I know the market has good returns It has been really good Lately. just don’t like the idea that the money can not be touched I till older. Has your stock return majorly outperformed your real estate returns? Have the market returns been so much better that you would hold off on financial freedom by a few years? Just feel like all years in life are not created equal and would want to make the most out of younger years especially with young kids. 

Hello All, 

Looking to see if someone has been in this position or made a similar choice and what your opinions are. I currently have about $300k in a IRA $100K is Roth so I would not pay taxes on that amount. I have zero debt besides my house $480k which I am currently building another unit on the property to bring value of house up to $900k. $200k of that is a private family loan which I am going to cash out refi, HELOC, or cash out IRA to pay back. I understand that almost half will be gone with taxes and fess and it will grow to millions if i leave it, but my thought process is I am going to have to pay the taxes no mater what, yes I can withdraw less to be in a lower tax bracket, but I do not plan on being in a lower tax bracket as I get older as I want to grow my wealth. I am currently 35 and if i can cash this out i will be able to apply that towards real estate and continue to grow monthly cash flow. I have looked into self directed IRA and that still requires you to put back into retirement account. I have a goal to be financially free at 40 (yes I still want to work but NOT HAVE TO WORK). Every financial advisor does not understand the concept on not working till 59 1/2 and they do not understand why some one finically stable would want to cash out IRA, we are finically responsible and have a household income of $200k and want to be able to have that freedom before 60. if you read all this thank you and would love to hear your thoughts, experiences, regrets, and advice on cashing out IRA. thank you

Just wanted to follow up on this thread as I also live in the Bay Area (Martinez) and am trying to finish my ADU. Was wanting to BRRRR the property, but not sure what it will get appraised for. Adu costing around $300k to build Do you guys know if there has been any changes on appraisals coming in higher on the price now that ADU are getting built more and are more common?