All Forum Posts by: Russell R.

Thanks so much @Will Fraser - am exploring options now.

Thats terrific - thank you @Claude Diehl

Hi BP Forum:

I have a solo 401k plan that hold a townhome investment.  My plan documentation needs to be updated and I'm looking for a provider who can perform the requisite administration on an ongoing basis too.

Would prefer recommendations of solid professionals from the BP family.

Thanks everyone

@Sheila Campbell you should connect with @Chris Seveney - best guy I know for notes. (Hey Chris!)

I haven't seen a post on this (but it may exist). Thanks to opinions and analysis from the BP community we are selling our ‘poor deal' SFH investment property in NC and after improvements and fees we will realize about $20-$25k in gains.

A few questions: (1) is it too late to do what is needed to turn this into a 1031 exchange situation (we close on 8/30)?

(2) I think the answer to this is NO, but can we use these proceeds to invest in an apartment syndication? Or a note investment?

(3) Since I’d prefer not to invest in real property - does that mean we just pay tax on the gains and take what remains into notes?

Thanks to 1031 experts.

Thank you @Andrew Postell - super thorough - will DM you also.  

I love the feedback - thank you.  

@Cathy Svercl I think you're right - we had this as our primary residence and then kept it when we moved, but the numbers are hard to justify now.  @Jaysen Medhurst your comments are very helpful.  It reframed a situation for me quite significantly - thank you.

The psychology of wanting to own an investment property outright is probably blurring my thinking regarding looking at this situation purely from a cash flow/leveraging equity perspective.  Yes, I want my equity to work for me so that I can grow my net worth through additional investment properties but is this the smartest way to leverage this opportunity.

I have a SFH investment property (appraised at $390k), and would love some perspective from the great minds on BP on this situation:

MORTGAGE: Balance $207k - Currently have ~10 years remaining on a 15-yr mortgage at 3.25% with PITI $2,464.25

HELOC:  $51k at 5.99%

RENTAL INCOME:  $2,680

If you're looking at the numbers, should I cash out refi and consolidate the heloc and mortgage into a new 30-yr mortgage?  

New rate would be around 5.25% for a 30-yr and after costs I'd get $25,588 out with a new PITI of $1,995?

Aside from my own (potentially irrational thinking) is there a reason why you would NOT refinance?

Thanks for helping me consider options here.

@Carl Fischer thank you for your input and valuable perspective. Important to challenge my own assumptions and look objectively at performance.

Would love to hear from some pros on what my options are in the following situation:

Townhome in Charlotte, NC valued at approx $230,000 in my self-directed 401k

Non-recourse loan balance remaining of $17,000 (with NASB)

Monthly rental income $1,380

Is there any way I can tap into this equity for either note investing, or other investment options?

NASB have told me that they don’t do home equity loans.

Thanks for any advice.

Russell