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29 January 2025 | 47 replies
Here is how I look at it:If you have $125K in a Roth 401K that will earn tax free earning at just under 10% per year, you will get a doubling every 4 years based on the rule of 72, making that $125K worth $2M in 30 years.
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15 January 2025 | 14 replies
My endgame is to end up with $300k/yr in post-mortgage income in 20 years based on investments I make now followed by continued investments over the next 10-15 years own.
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13 January 2025 | 2 replies
On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?
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14 January 2025 | 1 reply
In the meantime I would touch base with lenders and get the financing squared away.
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12 January 2025 | 2 replies
Obviously tough to give advice based on minimal info and no info on your personal situation.
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21 January 2025 | 14 replies
While I have grown my client base to a respectable number, I've struggled to gain consistent traction with realtors and property managers.
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21 January 2025 | 8 replies
Based off the general home inspection report you'll be able to see if you need to get an electrician etc out there.
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17 January 2025 | 24 replies
Based on experience, the existing accounts for the Quest Solo 401k plan can continue to be used and simply be governed by the new Solo 401k plan going forward.
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20 January 2025 | 8 replies
Or when syndication is struggling like it is move into the training business.there is huge money leveraging your on line popularity where folks will have an irrational opinion of someones bona fides based on SM media presence etc.
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17 January 2025 | 3 replies
A Title Company can distribute the proceeds based on the agreement, and consulting a CPA will help calculate tax liabilities and explore strategies like a 1031 exchange to minimize taxes.