All Forum Posts by: Jeremy Karja

Hi Sean and all other MN investors. I am also just starting in MN and plan on attending some local REI groups. In fact one in MPLS this Tuesday at the Marriott. If there are other events or if anyone wants to connect, I would love to.

Best of luck.

Jeremy

I work with annuities by day and I am licensed to do so.  Does your annuity have an income rider?  If so, you can take about 5% payout typically in your 60s.  So if you can cash flow more that a 5% on your annuity then it may be worth losing the 6500 in surrender charges.  This a good point for all RE investors as well when looking at retirement just know you would need about 1 million dollars in investments to get about 50k in income for the rest of your life.  Or another way to put it... could you gain more than 50k a year in RE investments if you had 1M cash to invest?  

Very generous Jay!  I would take you up on it as well if I was in the area.  Good luck to the St. Louis investors.

I thought it was a stretch.  Thank you Brian and Dmitriy.  Very helpful.

Thank you Brian.  

Brian or anyone: This may be a stretch but if I rolled my entire IRA (65k) into an solo 401k and then used it to buy a property could I still take a 50% loan from my solo 401k?

I currently have an IRA I converted from a 401k I would like to use for investing. My plan is to use it for the BRRRR strategy with the money and start rolling into other properties after I refinance the first one or two I buy with my qualified money. The question is should I use a loan from a 401k or should I use my IRA for the down payment and all other costs?

Very thorough.  Thank you Mark! I work with retirement planning for my day job 

but had not come across this before so I appreciate it!

I have an IRA I would to use for rental properties. If I do use it for a downpayment and get rental income. Can I ever use the income from it personally? Also, can I re-finance at some point on that property and use that for future investments and if so, is that all considered Qualified IRA money as well? Thank you!

Thank you Carter, James, and Chris.  Based on the forums that is what I thought.  Thanks for confirming that.  A part-time agent, newer, does not have a lot of connections, no investment properties, but is a big-time go-getter.  I think I need to find that great investor agent specialist. I am sure once I start joining networking groups this month and next I will find one.

I am new to investing.  My plan is to invest in as many rental properties needed to generate 10k of income within 3-5 years.  My question is should I use multiple agents to find me deals?  The caveat is like most people I know many with real estate licenses but also I have 2 VERY close friends who have their license but work only part time (like 10 deals a month) and do not specialize in rental properties and also a couple other not as close friends who may be a little offended as well.  At the end of the day my business and family are priority.  The plan is if I use multiple agents then I would ONLY do the deal with the agent who brought it to me.  What should I do?  Thank you in advance for any response.