@Elizabeth As someone starting in NY do you have any tips?

Fresh off a six-month renovation that was supposed to take two months, I have a few hard-earned tips to share. 1.Plan your post-renovation transition pre-renovationWhen you are starting a renovation, it’s easy to be 100% focused on the renovation itself and not pay as much attention to preparing your home for the post-renovation transition.

I know that I can contribute toSolo 401k $18500 + 20% Employer contribution $5500 towards Traditional or Roth IRAAnd then there are SEP IRA, SIMPLE IRA etcI am wondering what combination of retirement accounts gives me the maximum contribution to the retirement accounts.Can I do Solo 401k + SIMPLE IRASolo 401k + SEP IRAPlease adviceThanksChai

Have a wonderful day!

BUT I'm wondering if this would really make much of a cost impact.

Any tip will be appreciated!

Hi Dmitriy I had two options:1-lend to allow them to pay back original investor, which would be interest only payback including capital at end of termor2-equity position whereby I put up $xxx to allow them to payback original investor (no interest paid on lent money) with equity income (rental).I chose option 2 for the income so it would be part owner.As with previous deals (Mortgage Notes) my IRA was on the deed and a promissory note was created as a result of the lending with a mortgage.As I read your questions and write in response I am now wondering if this is typical.

I just had a wonderful experience with an agent named Dave Marshall who covers Southern Maine.

You have a track record of closing on deals, so when having conversations with brokers, definitely bring that up.Here are a few other tips for winning over a commercial broker:Pay them a consulting feeTake them out for coffeeVisit their recent sales and tell them what you do and don't like about the properties as it relates to your ideal investmentProvide them with information on how you will fund a dealConstant follow-up: whenever you perform a task that brings you closer to completing a dealOnce you know how much cash you will have ($225k or $675k), you can figure out the max purchase price you can handle by assuming you will need 30% to 35% of the total project costs in equity.

That was a good tip with the storage, ill have to look into that.