All Forum Posts by: Rachel Ash

@Hakeem Valles. Thank-you!

@Tim Herman. Thank-you for the feedback! My existing house won't cash flow and it is expense to upkeep - pool, septic and well. The only issue is that the areas that will cash flow are less desirable then the one I currently live in. 

Hello! I am looking for a bit of advice. I currently live in a nice home in a nice area and have about 150K of equity in my home. My plan is to buy 6 rental properties in the next few years. I have enough liquid money for 2 properties right now. I am leaning toward selling my home NOW and buying something more affordable in an area where I can rent it out if I move (I plan to move in the next two years). But I am not sure that is the best decision given the closing costs and realtor fees I will pay on my existing home. I am torn between staying in my home for another two years and then selling or selling now and moving into something more affordable. On a side note, I do not have the option to sell and just rent something as I have a pittie mix and it will be impossible to find a landlord willing to rent to me. Any advice? 

Thank-you!

I did not see this addressed on any previous posts. Is there a MINIMUM amount you must contribute to your Solo 401 K each year once established?

Thank-you for your response! 

I currently have a Solo 401 K and have the following questions: 

1. Can you deduct the cost of setting up your Solo 401K when tax time comes? 

2. Even if your Solo 401 K is worth less than 250K is it recommended to file a 5500 EZ form to serve as a papertrail? 

Great! Thanks for the information. 

Has anyone used or had a claim with REAL PROTECT insurance agency? The information they provided says they are backed by Agent Alliance Insurance Company but I can't find any reviews on either.  I am considering buying home insurance from them for a rental property.