Cheers to (y)our Real Estate Success!

I toy with the idea of paying the early withdrawal penalty and taxes (huge).

I toyed with the idea of wholesaling, but I couldn't coordinate the 50+/day follow-up phone calls with my day job.I have about $40k in cash, so I'll be seeking hardmoney lenders and wholesalers in the area.

If you said wholesale because you need some 'faster' cash that's also ok.Just know that take all of those business models take laser sharp focus in each discipline to really get traction.Bouncing around business models is the sure fire way to get frustrated.  

We all think the way we invest is how everyone else should, but your goals and needs are different than anyone else's so decide what works for you.I'd also suggest going out to some meetups and reias so toy can meet some local investors to find out what's working in your local area (which is pretty close to mine)

Hi @Shannon Toye,Answers;1.)  

Stop contributing more than what your company will match in the 401K, get rid of those car payments, student loans, toys bought on time etc... 

So for people who are in this higher income situation it would be better for them to take LPMI (lender paid MI) which is in essence a bit of a higher rate in order to not pay monthly MI because this particular person could write off the extra interest and typically pay less than what monthly MI would "have," been in lieu of the LPMI option.For smart investors who buy undermarket value and fix up, it may be best to ..... Yes

Focus focus Focus I wouldn't have bought those 2 houses if I hadn't been laser focused on this REI world of ours.

I suspect in Omaha you can do very nicely on say 20k a month... and spend say 5% of your income on a toy.. still leaves you 19k a month to live on.. great house in your market probably all in is not more than 3 to 4k a month leaving you 15k for food and cloths.. so you can buy the car  :)