All Forum Posts by: Conor Lehane

Would like to know about the next meet up. Thanks for organising.

Thanks for the rundown Loren. Much appreciated.

I originally set up a Roth IRA with APS and I closed my account with Fidelity( had a trad 401k with previous employer). In between the time Fidelity sent me a check (after tax)made out to APS , all this SEC drama kicked off and so had to close that account too. I'm now essentially in a position where I have to find a provider and tell Fidelity to rewrite a check in their name.

Im not self employed so the solo 401k is out for the time being. To answer your question Loren I think time will always be more important. Maybe another Roth IRA is my best soloution this moment in time. Just a matter of finding a provider with low process and annual fees and I can put this to bed and concentrate on generating some cash to put in it.

Thanks for the info Dmitriy. It's making my decision a little easier. Do all the aforementioned companies on previous threads (Equity Trust , UDirect etc )provide a Roth Solo 401k ? Also since I have been taxed already from the first rollover, can I be taxed again setting up with a different company?

I rolled over a traditional 401k from my previous employer to a Roth IRA at American Pension Services recently. I wont go into recent events since im sure most of ye are aware but I have now cancelled my account and am back to square one.I took the 1st option given to me and it backfired.
My thinking now is what do I need for my specific needs?
Recently moved to Dallas area and working with a mentor and a team of new investors so working aggressivly to generate deals.
I have read the posts here but my immediate feeling is that responses are from very seasoned investors with obviously different needs.
My 401k provider is waiting for me to give them a new custodian to send a check.
Any advice is appreciated for a new investor to get on the Self Direct ladder. Also im not rolling over a huge ammount of money if that makes a difference.

Thanks in advance
Conor

I would like to find investor friendly realtors in the Plano /Frisco area to assist in comps and market conditions. Putting the finishing touches to a heavy direct mail campaign and would like to get a realtor onboard to help me out.I can make it worth your while.
And while im at it, if anyone wants to give me a big bag of cash that would help too.
Dont all raise your hands at once now..

Seriously thanks though

Conor

Thanks guys.

Very helpful Kelly. Thank you.

Thanks Dion. That's some good information for me.
You mentioned getting a loan will affect a future loan. My question regarding that is in relation to investors buying 3,4,5 properties a year. Is it calculated risk? I can understand seasoned investors having prior relationships with lenders and that would help. Also having private lenders to purchase.
I assume there are many other people new to this business without private lenders and built up relationships. Is it just a matter of taking that risk and diligently pay on your debt .

I'm currently educating myself on the aspects of RE I want to pursue but I just want to throw this question out to Moore seasoned investors.
Does pursuing pre approval for mortgages put a hit on your credit?

I have good credit simply because I have only lived in the US for five years . My wife is adamant about never falling behind on payments. That brings up another question. Does the fact that I am only building credit a short time affect getting pre approved.

And last but not least my wife thinks that if I do have a mortgage on an investment property it will affect our chances of getting a mortgage in a few years when we upgrade our own place. This seems excessive but thoughts are welcome

Thanks in advance.

Thanks Baltazar. Keyword Austin done. I'd be very interested in joining and speaking to you and the group.
I read your profile and I would be interested in a similar path to what you are doing . Maybe even a 3/4plex around Austin /SA and grow from there.
Talk soon.