All Forum Posts by: Sean Moore

401K? Or All in on Real-estate?

Hello y’all I am 25 recently married and recently my wife and I have been looking over finances. My 401K doesn’t have a match and is costing us 0.79% of funds under management. I am in the lowest cost fund I could find (Vanguard total market fund) and was wondering if I should still be investing in that or turning my attention to more real-estate. I bought a Tri-Plex in 2019 and am currently in the process of doing a 1031 Exchange. Any thoughts on the 401K greatly appreciated😁

Thank you for all the responses! I ended up not renting to friends and found some really great tenants who pay on time every time, and have ben wonderful to deal with! Thanks again for all the good advice!

@Canesha Edwards @Jaron Walling @Kyle J. Thank all of you so much for the help! I called yesterday and informed him I would now be comfortable with renting to friends or family. All of your help really gave me the courage to have that tough conversation.

@Kristin Cooper. Did you end up going forward with your grant?

Hello everyone I have an interesting situation that I need some help with. My best friends parents just had to move due to there home having major code violations and them finding mold. They would probably not be my fist choice as a renters. They are currently living in a hotel and I feel badly if I say no. I try and tell all friends and family I won’t rent to them but this seems like a little bit different circumstance. Would you rent to your best friends parents? Would you treat them like any other tennant and screen accordingly? Another part to the story is y friends dad has helped with the rehab of this unit as well. Any suggestions or help would be much appreciated🙏.

Thank y’all in advance.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Shasta Lake.

Purchase price: $300,000
Cash invested: $10,500

I bought the house in November 2019 to use as a house hack. The triplex is in a C class neighborhood, and needed moderate rehab. Two units are currently rented and cover all but $150 per month in expenses.

What made you interested in investing in this type of deal?

I am interested in house hacking through small multi family properties.

How did you find this deal and how did you negotiate it?

MLS and through my realtor.

How did you finance this deal?

FHA traditional 3.5% down loan.

How did you add value to the deal?

Renovating 1 unit and increasing rents.

What was the outcome?

Currently house hacking and saving for the next deal.

Lessons learned? Challenges?

Dealing with tenants and the process of working on your own properties.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Absolutely would recommend Kevin Rohdrick.

Hello Everone! My name is Sean I am in escrow on my first TRI-Plex. Due to the fact this will be a house hack for my wife and I, We will have to give a 60 day notice to vacate before we can move in. I am starting to realize how unprepared I am to become a landlord. I read “The Book on Managing Rental Properties” and got a lot of really helpful information there. I live in California and was wondering if there is any specific tips I needed to know just getting started for the first time becoming a landlord.