All Forum Posts by: Eric Tom

Hello:

I'm hoping somebody can help me answer some questions regarding window replacements as this is my first rental property. 

I have a rental property that has leaking/poor insulation windows. I am not sure when they were last replaced, but I have 4 windows each ~94in long and ~34in tall.

My tenant found mold growing near the window tracks and interior caulking as well as condensation along the edges of the window. She claimed that she heard dripping in the middle of the night and found a puddle of water on the window sill that morning, even though the windows were closed.

Questions I had were:

1. Should I get these replaced? (pictures attached) I would not want the frame to suffer water damage as a result of me not replacing...

2. If I should replace, should I get full frame replacement or insert replacements?

3. What type of windows are the best? I hear double-hung clad vinyl windows are the best bang for your buck and maintenance free windows. Would you suggest going with these?

Thanks for the input! I'll move forward with the 401k match limit for now. Not too comfortable on the specifics to utilize my Roth IRA funds. I linked an article as an FYI for anybody who is interested in this approach.

https://www.thebalance.com/how-to-invest-in-real-estate-with-a-self-directed-ira-4057066

Hello:

Question:

I wanted to ask for help and advice around money allocation. Should I put less in my 401k so that I have more money in my savings that I can use for a down payment on a rental property?

Would like to hear others inputs on how to split between 401k and saving for a down payment.

Goal:

My goal is to both save for retirement and start investing in real estate using BRRRR to earn passive income on the side. I was thinking to invest out of state or out of local area (somewhere where I wouldn't be able to drive to) since I live in the Bay area and rental income to home price is not very appealing.

Background:

Currently, I am making monthly deposits to max out my 401k and Roth IRA.

I have a new Jan 2019 condo rental that has an appraisal value of $455k with $200k left in loan. If I assume I can refinance at 80% of value at the end of the year, my understanding is that can get $164k out for other properties. However, would I be paying more per month on my current condo mortgage?

I don't have any extra liquid cash (other than my emergency fund).