If everything you have is leveraged to the hilt and you have little in the way of liquidity, you are walking a fine line between prosperity and disaster.

Hi David, Give me a call and I'll give you a free consultation.Daniel Petrucelli, NMLS#1293074Daniel PetrucelliMortgage Loan OriginatorNMLS #[email protected] Financial, LLC1018 E Guadalupe RoadTempe, AZ 85283NMLS: 42056 / LO NMLS: 15420 / BK 0910215

LA is very competitive and lots of liquidity here.

I will say that as a tenant, it was nice to not have to worry about anything, to have the flexibility to up and move to another city when the lease expires, and to have the ability to remain mobile.I don't think it's a stretch to argue that Millennials are less interested in owning property than previous generations.  

You'll need to liquidate your positions or leverage them to create cash for your initial real estate investments.Sec. 1031 allows you to sell any type of real estate held for investment purposes and purchase any type of real estate held for investment and defer the tax on the gain.  

@James Wise @Steve Vaughan @Lynn M @craig E @Guy Gimenez @Zach SikesThank you for the responses and suggestions.

I know I need a CPA... its on my list.Schedule E has a list of expenses...

@Bryan C.I would lend on a minor rehab, like fixing an outdated kitchen, $10K to $20K, quick resell, make 10% in 2 months, do it 5 times a year.Either you or a REI goes to expired listings, offer to buy house with dated kitchen or bathrooms, You give a note for equity, use your IRA for rehabFix and resellYou get your IRA money in 2 months plus 10%.

I have to provide them with an updated insurance policy as the current one is about to expire and they will issue authorization to close.

I am interested- just sent you an e-mail!