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27 June 2024 | 2 replies
Here are some options and considerations:Loan Against Equity/ETFs:Margin Loans:Description: Margin loans allow you to borrow money using your investments (such as stocks or ETFs) as collateral.Pros:You retain ownership of your investments.Generally quick access to funds.Interest rates can be relatively low compared to other types of loans.Cons:Your investments are used as collateral, so if their value declines significantly, you may face a margin call (requiring additional funds or securities).Interest rates can vary and may be higher than traditional loans depending on the lender and your creditworthiness.Securities-Based Line of Credit (SBLOC):Description: Similar to margin loans, SBLOCs use your securities (stocks, ETFs) as collateral, but they typically provide more flexibility and may not trigger margin calls as easily.Pros:Allows for ongoing access to funds as long as your collateral remains sufficient.Interest rates may be competitive.Cons:Similar risks of potential margin calls if the value of your securities drops significantly.Terms and interest rates can vary widely among lenders.Comparison with 401(k) Loans:401(k) Loans:Description: Borrowing from your 401(k) allows you to access funds without selling investments, using your retirement savings as collateral.Pros:Typically low interest rates.No credit check required.Interest paid on the loan goes back into your 401(k) account.Cons:Usually capped at a percentage of your vested balance (commonly up to 50% or $50,000).If you leave your job, the loan may need to be repaid immediately or could be considered a taxable distribution.Potential opportunity cost of missing out on market gains if funds are withdrawn from investments.Other Alternatives:Home Equity Line of Credit (HELOC):Description: If you own a home with equity, a HELOC allows you to borrow against that equity at typically lower interest rates than unsecured loans.Pros:Lower interest rates compared to other types of loans.Interest may be tax-deductible if used for home improvements (consult a tax advisor).Cons:Your home serves as collateral, so failure to repay could result in foreclosure.Personal Loans:Description: Unsecured personal loans can be used for various purposes, including investing, but typically have higher interest rates than loans secured by collateral.Pros:No collateral required.Funds can be used for any purpose.Cons:Higher interest rates and stricter eligibility criteria based on creditworthiness.I am a loan officer and we do some of the loans stated above.
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25 June 2024 | 6 replies
Just tough to do in this market with mulitiple offers and a very tight window with the 1031.
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27 June 2024 | 1 reply
Additionally, our strategic marketing efforts highlighted the property's new features, attracting buyers quickly.
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27 June 2024 | 6 replies
During Covid it was very hard to use with all the multiple offer situation but it's been better for people in the market I live in.
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26 June 2024 | 3 replies
We are additionally looking for a CPA, and we have already received some legal council.We own a single family condo on the north shore of Massachusetts, and just purchased, with the help of my father, a 4 unit apartment building in the same city.
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27 June 2024 | 13 replies
A n00b contacted me about the numerous "great deals" he was seeing FSBOs offering on their condos throughout Florida.
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25 June 2024 | 10 replies
. - Going further out Brentwood and Oakley have appreciated quite a bit and have pretty good schools- Something with potential to add value: ADU attached to the main house or separately in the backyard in the future to get additional rent.
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26 June 2024 | 3 replies
Hello, Cliff Benner, in addition to BizBuySell, LoopNet, CREXi, and Horse & Hearth, here are some other listing sites that feature campgrounds and resorts for sale:LandWatchOverview: A comprehensive site for buying and selling land, including campgrounds and resort properties.Website: landwatch.comLand And FarmOverview: Specializes in rural property listings, including campgrounds, resorts, and equestrian properties.Website: landandfarm.comRV Park StoreOverview: Dedicated to listing RV parks, campgrounds, and resort properties for sale.Website: rvparkstore.comCampground MarketplaceOverview: Focuses on campgrounds and RV parks for sale across the United States.Website: campgroundsforsale.comUnited Country Real EstateOverview: Specializes in rural and lifestyle properties, including campgrounds, resorts, and equestrian properties.Website: unitedcountry.com
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27 June 2024 | 6 replies
Realistically a cheap ac repair is $250, you’re losing time/money/sleep over an additional $250.