All Forum Posts by: Sonny Ruckstuhl

I agree with the idea of doing RE and 401k investing.  The tax savings and company match are both valuable and when you leave that company, you can roll it into a Self-directed 401k that can invest in RE.

And, you can access retirement monies prior to 59.5 (IRA) or 55 (401k) but involves some lifestyle hacking best laid out by a blogger, The Mad Fientist. It involves more thinking of frugality choices. Not the choice for everyone, but it does debunk the belief you have to wait decades to touch those deferred monies. And, his way avoids the tax payout!!!

Again, not for everybody. But there is always a way if you keep your brain away from the idea that "you can't."

One of the podcasts I recently listened to (#111) t/a developing a Craiglist ad to advertise the property prior to buying it. If he got 20-30 calls quickly he knew rental area was strong. I may be getting the details exactly wrong but I would do some assessment of the rental market and that is a free way to do it.

@Julie Marquez The hardest thing to learn is what's enough.  One penny over that is too much.  

Defining that is for each individual.

In my work, I see people who range from homeless to millionaires.  I am in an investment group that is populated with individuals who seem terrified all the time about what is going to happen next and I don't know if they can be satisfied.

Me, I have my dollar targets of what's enough. I try to keep perspective of what makes me happy. I have a general idea of what jobs the dollars have. I kick myself for my mistakes. And, for perspective, I check out my income and compare it to state, national, and world norms.

Figuring out your "why" for those dollars seems like a good exercise.

Don't know if any of that is helpful.

@Daniel Dietz I am looking into establishing a SOLO401K next year which is self-directed. I believe you can roll 401k monies into that plan also.

@Justin Windham Is that correct? What are the list of funds that can roll into a Solo 401k?

@Todd Magin Welcome!!! This has been an unbelievable community for me. Joined in the spring but only became active in the past 6 weeks. Having a ball, trying to learn it all!!!

Congrats @Michael Rogers!!!

What a wonderful Christmas present to your family and to all of us who aspire to that point!  Enjoy your new year!!!

@Paul Ewing

I am just starting with rentals next year. I use QuickBooks for my business and will set up a separate account for my rentals.

Any particular things to know or sources to use to learn how to do data entry for rental properties?

On W. Bolz in Phoenix. Close enough to be Medford to me. But not officially.

Welcome to BP!

My standard answer is to get involved in your local market by checking out REIA meetings for your local real estate group and meetups organized via BP under the Community banner.

I also suggest going to help someone doing what you want to do even if you have to give your time away for free.  Persistence in your business relationships will likely be the quickest way to achieve the goals that you want, whether the relationships are online or in person.

The other key is diving into the educational material here via podcasts, articles, or forums. Lots of info here!

I found a property manager in the area I wanted to invest in MF.

Take a few of them out to coffee and introduce yourself.  Let them know you are looking for property if they know someone looking to sell.  These are likely going to be good sources of seller financing opportunities.

Welcome to BP!

I am new to this as well but have found the podcasts and forum discussions unbelievably useful. There are numerous references to finding mentors including going to local REIA meetings and BP meetups. Go to coffee with someone 1X per week.

Find someone in your area doing what you want to do and find a way to be useful for them. Bring your time and enthusiasm and do the tasks they don't find cost efficient for them to do.

I have found that doing things for others, even for free, allows for terrific relationships to form.