All Forum Posts by: Rhonda Green

Purchasing raw land in Lake Tahoe.  Negotiated deal directly with seller and paying $500K for lot.  Should I purchase $500k cash at end of negotiated 90 day escrow and then get loan after transaction completed or use the 90 day period seller has approved and get loan and put 25% down for investment property?  Planning on holding on to property for 2-3 yrs and either selling or building 4-plex as it has development rights.  Thank you for your input;)

Thank you to both of you.  I agree that being able to sleep at night is worth more than anything, actually.  I'm just trying to grow my wealth as much as possible during my most formative years (I'm 47) and self-employed as just have a I401K which has lagged at best even thought I have had for 20+ years.  As many other people, I've lost 50% of my retirement twice.  I seem to do better with real estate but definitely do not want to get to far stretched that I could everything I've worked hard for.

True, good point.  A little scary not knowing how quickly short term interest rates are going to be raised.  

Well, because I bought these when the market was down I have 50% equity in these properties.  I actually would like to hold them and pay off but ponder thinking I could pull out $200K+ on each property to invest in additional properties.  You're right about the higher interest rate and longer terms.  I may just tap in to transferring funds from my I401K and buying an apartment building.  Thank you very much for your input and thoughts.

I purchased a couple residential investment properties (single family homes) 6 years ago and refinanced for 15-year terms.  Now, I would like to leverage my money and have been advised to consider refinancing some of the equity out of the houses in order to purchase additional properties.  Sounds like a great opportunity for me to grow my portfolio but I only have 13 years left on these mortgages at 3.25% and not sure if it is still a good idea and pull out equity or wait and pay off for cash flow in 13 years.

Looking for insight on the detailed process of braving the idea of cashing out my retirement plan to purchase apartment building.  I would appreciate some specifics on a reputable intermediary to utilize to make everything legal and clean.  Would I be able to start utilizing rent for ash flow at 59 1/2 years old? Would it be taxed as "ordinary income" at that point?  Trying to be smart about getting future tax bracket as low as possible as I should have pretty good cash flow from other rental properties.  Would love to hear from someone who has been through it rather than just the websites that tell you they can help you complete the process.