Ron Olivera
What would you do with $50,000?
6 December 2015 | 14 replies
Examine other markets after a period of time to move to if necessary.
Cameron Price
How do you ACTUALLY set up a self directed 401k
10 January 2018 | 37 replies
You can also work directly with a tax attorney or CPA who is familiar with these plans.All 401k plans must remain current with changes to the tax code, so you will want to have an ongoing relationship with a legal resource that can provide periodic amendments.The advantage of a quality firm (not just a document provider) that specializes in self-directed Solo 401k plans is that you will have access to training and consulting advice so that you can operate your plan within the framework of the IRS limitations.
Steve Ellison
Becoming a landlord primarily to establish rental history
7 December 2015 | 11 replies
By renting a second place for a period of time, you are just worsening your financial situation by increasing your expenses while not adding anything to the asset column.Personally, if you're OK with living where you are now, I would use down payment and go hunting for an investment property that will produce positive cash flow to help offset your existing losses on the condo.
Allende Hernandez
Might be buying a second home, is this a good idea?
6 December 2015 | 0 replies
More insight of the current numbers (considering a 4.5% interest rate for the new loan)House 1Monthly payment(PITI+HOA): $1,700/moPotential rent: $2,300/moCashflow w/o management company and allowance for repairs(house is in great shape): $600/moHouse 2Monthly payment(PITI+HOA): $3,964/mo (if offer is accepted but I believe the case study is valid for any other house)3964-600 (cashflow)-1700(mortgage first house)----------------------$867 I have to come up extra with every month.In this particular house there is also a room with bath that could be rented for about $800/mo (efficiency, as we call it down here).
David Mirza
Getting around 10 loan limit
6 December 2015 | 6 replies
Typically amortization periods are shorter and loans are not fixed as long.
Rafael Norat
Capital Gains Tax on Flip via Joint Venture
7 December 2015 | 7 replies
NJ charged capital gains tax on real estate sales unless you have residence for 2 years within a 5 year period.
Sam Valme
How to unlock a HELOC
7 December 2015 | 16 replies
It took 1.5 months from beginning to end for me to get mine.I talked to a lot of banks first to find the best deal for me.The bank I chose, and most likely all will ask for the same thing, wanted to get:2 years of w22 pay periods of paystubs2 years of tax returnsAny open mortgages they wanted the last statements to verify. ( I have 2 investment properties with mortgages)Copy of declaration page for property insurance on my primaryPersonal financial statement that lists all liabilities and assetsI filled out an application and they started the process by ordering an appraisal.
Elliot Lamson
Realtor tacking on 3% on top of wholesalers deal.
23 April 2022 | 41 replies
The seller has agreed to pay it period as a condition of closing.
Darrell Campbell
New Member Darrell Campbell
20 December 2015 | 11 replies
I don't like working 120 to 140hrs in a pay period and having no time for myself.
Hank Sacco
Property wanted
8 December 2015 | 2 replies
This would be a cash purchase with normal DD period to assess property condition.