All Forum Posts by: Account Closed

Avoid the lifestyle creep.  Live like residents...

I would listen to your father. It's really hard to pass on the tax-free space that a Roth IRA gives you. Use it or lose it. You can always take out your contributions penalty-free if needed.  

@Makala Lee-Norwood - Keep the $5k.  Increase your savings rate and focus on education.  

If you are itching to spend the $5k, you could buy a REIT as @Caleb Heimsoth suggested. Place it in a Roth IRA.

Disclaimer:  I am a fan of index funds and letting it ride for a long, long time. 

Are you willing to give up compounding interest, tax hits and a truly passive investment?  Weigh your options.  I do not think there is a definite right or wrong answer.  

@Samy I.

@Samy I.

@Alex Craig and his team are amazing.  I bought my first turnkey with them in 2018.  I would highly recommend them if you go the turnkey route.  Great communication and streamlined process, which is key.  I will definitely purchase from them again in 2019. 

Good luck.

Bogleheads:  https://www.bogleheads.org/

The majority of people on Bogleheads invest in low-cost index funds, not individual stocks.  There are a lot of smart folks over there.  I consider myself a Boglehead.  :)

If you gained $10K in the past 13-months, would you still consider withdrawing from your tax-deferred account to control your money?  Think long-term.

I would look for more than $600 annual cash flow.  

@Bradley Nuse

What due diligence did you do on Morris Invest prior to purchase?  

@Jim Truman

"I am exploring the possibility of getting started in real estate investing.  My wife and I really don't have an interest in real estate."

I think you all may want to evaluate your why in RE.  What if you get into RE, have a bad experience and never get back into RE again? 

I'm familiar with this area but I'm not sure of the rental demand.  There is a fairly new bass pro shop and outlet mall near.  

Did you research the area before your purchase?  Did you visit this market?  How is the PM marketing your rental?