All Forum Posts by: Mark Harry

When you take it out from SEP to Roth you pay your due taxes, but hey you can withdraw from the Roth tax free plus you get to put more than the yearly allowed amount LEGALLY and earn compound interest...

ShadoCat,

I would probably close this deal with her, after all she's a very nice lady and I wouldn't hesitate to help her and consider her for a commission especially that she's the one who provided the lead.

However I plan to keep looking around for an agent who works well with numbers It would help me close faster and better deals.

If I was buying a home for me and my family I would infinitely choose her. But its inefficient when you are talking in terms of ROI, IRR, cash on cash and cashflow and your agent is talking about harmonious colors and scenic looking flowerbeds...Thanks for mentioning ethics, I believe it is very critical to success.

You can start as a sole proprietor and open a SEP-IRA. As a self employed, SEP-IRA allows you to contribute up to 25% of your earned income in a tax deferred environment therefore paying tax on only 75% of your earned income. You can then keep investing them and building them up in the SEP

Now the loophole is, you can convert any amount from SEP to Roth. You pay a conversion tax but you overcome the 4-5k Roth-IRA limit :wink:

Roth provides more benefits therefore the conversion is really worth it.
If you have employees it tends to be more complex.

I had my agent putting me in her automatic MLS listings system which sends me daily new and updated listings by email.

I've just found an interesting foreclosure property in a decent neighborhood. I ran the numbers in my property analyzer piece of software and seen a very decent cashflow.
But I don't want to go through her because she's doesn't have any investor mindset and she's more of the 'home' type of agents who doesn't really understand my requirements as an investor.

What I did today is I phoned few local realtors and left them voicemails underlying my interest in a certain property along with my contact information to call me back. I will screen them on the phone and try to identify a good agent who's less irritating than the lady i am dealing with and will make my work a lot easier.

You are absolutely right John, I shouldn't have said it that way. I appreciate the tip. I am here to learn from you guys :)

Thank you so much guys.

Your points make lot of sense John, I am strongly convinced that REI is by far the best form of investing.

Thanks John :)

Lowell still has lot of "bread and butter homes" around downtown, mostly multifamily homes but I see lot of new projects going on downtown, they are turning those old textile factories into luxury lofts and building multi-storey parking decks and few office buildings. Little further out from the city however, there are very nice high-end neighborhoods with large single family houses.

As I am starting small, I am investing locally in those 2 and 3 family houses in semi-decent neighborhoods.

I am pretty good at analyzing the numbers when it comes to ROI and cashflow but I still lack the experience in speculating about the market, for example will those multifamily houses go up in value and maintain a positive cashflow or are they going down? How to know if a certain area will go up or down or remain as is ?

hello all,

I am so glad to find such a good community of investors, I think this is one of the best opportunities for all of us to grow and share experiences.

I am 26 from Lowell, Massachusetts. Still a newbie investor.

My investing strategy is to buy cheap properties, rent them, create a cash flow and never sell, therefore keep building my portfolio.

I will be coming with few questions along the way as I learn more and more about the field of RE investing. Hopefully with some help from experienced investors I avoid making some dumb newbie mistakes...

Any investor from Lowell, MASS here ??