All Forum Posts by: Toby Mims

@Tyler Hogan I see Investing in a Roth is as a win or loss. Investing in real estate, is a win or LEARN, in my opinion, because we have more control over the investment. I personally try to contribute as much as I can to my 401k & Roth, but I do reduce or increase my contribution levels, depending on my goals and market conditions. This makes due diligence that much more important to me, when deciding to pull the trigger on a real estate investment. Both investments are very important, and I would try to balance the two. I'm not sure how much higher the stock market will go from here, and I keep hearing that we are long overdue for a correction.

@Mark John Give @Brittany Stoeckert a try, she is located just north of Gainesville.

@Mason Wade Morris Thank you Mason, that's great information!

@Laura Williams Thanks, I'm not sure what the minimum size is for a closet here in Florida.

@Laura Williams Laura, I have a question. How big does a closet need to be in a bedroom? Is there a minimum requirement? Thanks

@Tyler Emerson I have found the "Zestimate" to be way off the mark most of the time. You can pull several comps from these websites of other similar homes that have recently sold, and that will give you a better idea on the home's true value. You can also have a realtor do it for you.

@Chan K. If you sell it after you rent it, you could do a 1031 tax free exchange, and buy another rental or multifamily property without having to pay any capital gains tax.

@Chan K. It sounds like you will have enough cash flow to keep it and rent it. I would hold onto it Chan.

@Chan K. If you are getting a good return on the home you are moving out of, you might want to consider calling several lenders, to find one that will do that deal for you. Also, if you have other sources, like a 401k loan, to supplement the cost, you can make this work, as long as you can cover your mortgage payment with the rent, I would keep it.

@Michael Batts It should be called "Cold & Hot Calling". You just never know what you are going to get when you go down this road. I worked in collections for several years, and experienced many calls of that nature. All that you can do is honor their wishes, but sometimes if you take a deep breath and listen to them vent, they will give you great information. Other times, you will just be cursed out and hung up on. Then you just go on to the next cold (hot) call, or take time to listen to a Tony Robbins podcast. Every call you make puts you closer to the one that you are looking for.