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16 February 2025 | 27 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.
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23 February 2025 | 42 replies
Some of my frustrations include:- Zero transparency on where my funds were being invested.
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15 January 2025 | 3 replies
If every rental listing has a washer dryer included that market expects it and you should have them there.
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30 December 2024 | 5 replies
Better still, the recessed handle trim is visibly chipped (stands out as bad.)
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17 January 2025 | 2 replies
Amenities include, laundry, assigned parking, and wifi available for each unit.
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23 January 2025 | 7 replies
Just make sure that you include this requirement in your costs.
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29 January 2025 | 24 replies
They could include things like waivers for documents and appraisals, relaxation of underwriting standards and money to fund repairs.However, there are benefits for people who just live in the areas, but aren't directly impacted.
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21 January 2025 | 10 replies
I suggest gradually assembling a reliable maintenance team that includes HVAC, plumbing, and other essential services.Tenants are responsible for providing access to the property.
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23 January 2025 | 165 replies
Hey, how about that genius move to turn OFF the power, including to the water pumps.
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21 January 2025 | 8 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.