13 July 2020 | 7 replies
Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

19 May 2020 | 10 replies
I can't speak to financing a flip specifically, but we recently refinanced a BRRRR duplex here in Oklahoma, starting the process just after quarantine began.

25 May 2020 | 21 replies
My feeling is that this quarantine will last for years, at least two years.

3 June 2020 | 22 replies
Self Storage has always been touted as recession-proof but data is showing people are spending -50% less on it since Coronavirus quarantining.

21 May 2020 | 5 replies
I recently moved to the New Orleans area during the start of the pandemic and used the time in quarantine to get my real estate license.

13 September 2020 | 15 replies
Don't let COVID quarantine your REI aspirations.

30 May 2020 | 13 replies
Manually tweaking pricing is also not great timing since I'm now seeing a massive pent-up demand as folks come off quarantine and are frothing at the mouth to get out of Dodge and indulge in regional staycations away from urban hotspots.

7 June 2020 | 37 replies
I don’t want to be too exposed to real estate (I currently have 10 houses), especially if we get a second round and another quarantine

10 June 2020 | 3 replies
As far as Philly, I'm actually "quarantining" in Philly rn.

26 July 2020 | 0 replies
Also became a licensed agent during the quarantine time, so it's provided me with the opportunity to look under the hood so to speak and not have to depend on an agent to provide me with any metrics/info.Because I'm a firm believer in leveraging OPM and I'll also be a first-time homebuyer, I plan on using FHA.