All Forum Posts by: TJ P.

@Kyle Meyer

Is Cozy going to become obsolete, transferring over to apartments.com

I’m a new landlord and I’m trying to create a Cozy account but it takes me to apartments.com

Is this platform identical with just a name change or is it a whole new platform?

Anyone out there research this? My goal is to retire and live off of income of six single family home investments by age 55. They need to be free and clear and the thought was to use my 401k through the SEPP program in my early 50's if I need the funds to help pay off the remaining mortgages.  There isn't any fear of the rental units not supporting my retirement so not having the 401k funds in my later years won't be an issue.

Thanks in advance!

You got great info from @Brian Eastman 

Q3. if you are done and “retire” before 59.5 and want to start drawing distributions you can use systematic equal periodic payment (SEPP) with out any penalties -research 72t distributions for the details. Or you can look at paying penalties and taxes, or wait for another pandemic that allows penalty free distributions such as is available today. That’s the options I see. Good luck.

@TJ P. I am in the middle of the conversion from an old solo 401k to an new self directed 401k. The funds will be housed as a trust with Fidelity and a bank and can change between.

The think I can say is that the income generated would need to stay in the 401k and not be co-mingled with investments/RE outside of the 401k. I haven’t made my first investment in RE with it yet, so I am sure I have a lot to learn. Jim

@TJ P.

Whoever you buy from try and get direct to the source. The training programs I have see. Put out inventory are essentially joker brokering it as they take it from another broker and make it up and sell to their students. During the days with a lot of a CFD's the gurus were just getting assets from direct source and giving that to students and making a fee off of it.

This is just another reason why I recommend who teaches you and who you buy from remain separate. Do not count on them to be your source - especially are you not paying them to teach you how to find new sources ??

@TJ P. It sounds like one of your main obstacles is access to notes. In my opinion, this is the most critical element of the note business. You need to find a source for your deal flow. The better access you have, the better notes you can get. For institutional NPNs, you need to stablish and maintain relationships with the people that access to what you're looking for. It's not easy to do. (I wrote a blog post on BP about the topic.)

If you want non-institutional paper, you've got to figure out how to get those.

The other alternative is to find and join up with people that already have done this. That's how I got started. I JV'd with my business partner who put in years of hard work to develop the relationships with loan traders on Wall Street.

There are experienced note investors who will JV with you. You bring the capital, they bring the access and management expertise, and you split the profits.

@TJ P.

Think back in school, your class had the same teacher and some excelled and some did not, it is not because of the teacher it is because of the student and the effort they put in.

Where the teacher came into play is by providing valuable resources and first hand knowledge.

There are so many valuable resources out there for people to use. I am not knocking any program as I have not taken the ones mentioned above but I have never heard anyone come out and say they are a different person and their business has taken off specifically because of X training.

There are also others who provide a lot of free content which I have found just as detailed and in depth as paid training.

Just my 2 cents on this topic. Curious to other note investors out there who buy consistently what their opinion is