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19 February 2025 | 5 replies
Everyone's 401K rules are a little different but the way it works for most is you can borrow up to $50K or half the total balance, which ever number is smaller.
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18 February 2025 | 2 replies
We could get by on using about half of it if we had to.
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5 February 2025 | 2 replies
Originally this started as a house hack I have recently moved out and it is now a 2 unit with one half being furnished rental.
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14 February 2025 | 18 replies
We are in PA about a hour and half from the poconos.
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13 February 2025 | 4 replies
However, with the rates and conditions of any triplexes and fourplexes we could find (we did find one, but it's in the Pendleton Heights suburb of KCMO, so we were worried about it being too dangerous of an area), we were wondering if it's worth it to buy a duplex and rent out the other half to help pay the mortgage, or if it's more worthwhile to rent an apartment and try to save up to buy a residential or commercial MFH later?
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15 February 2025 | 6 replies
.: This will be boring - I don't do anything "fancy" or "innovative" or "guru like" that is half baked false hoods.The first thing I look for are people who want/need to sell quickly.
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11 February 2025 | 5 replies
Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont?
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20 February 2025 | 9 replies
My ultimate goal is to be done with my 9-5 in a year and a half and only be doing 100% REI.
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20 February 2025 | 7 replies
I paid $165,000 for the 1600 sq foot home and I'm assuming I will have to put at least half that much into repairs as there is severe damage to floors and walls as well as black mold.
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20 February 2025 | 4 replies
15 - How many half baths will there be?