All Forum Posts by: Account Closed

@Mary Jay

It looks like your ROI is about 8% per year, which is not bad. Think of it this way, the only thing you did was sit back and relax (or work). Pretty passive right? Are you maxing out your Roth IRA?

I think you should look at your entire financial picture and then consider real estate.  Do you have cash reserves?  If so, do you have enough reserves for RE post-purchase?  What is your goal?  Do you have other income streams?  There are a lot of factors that you need to consider.  

Try your best to do both.  

Would anyone be interested in meeting up after Thanksgiving? Maybe we can grab beer/food and talk REI. Prospect Heights, Park Slope, etc...

I realize there is already a group that meets regularly in the city.

Thanks!

Max out his and her 401k and Roth IRA. That's ~ $48k right there.

If you have leftovers put the rest in taxable accounts.  

@Rahul Sunkavalli

Go to:  bogleheads.org

@Julian Pilate-Hutcherson

It is a business and should be treated like one.  The owner of a successful business has systems in place to function without their presence.  But, it is also important for the owner to show up from time to time.  

I would pay off an existing rental and keep the rest in cash.

Interesting thread.  I also work in healthcare, but as a RN.  Definitely "milk" your W2 income for the money and various retirement accounts.  Then, you can start pumping money into RE.  Next thing you know you'll have maxed out retirement accounts and cash flowing properties.  That's exactly what I do.

Save yourself the headache, unless you have a excellent PM in place.  

@Tim Wasson

Get it as passive as it can get and keep it.  Heck, you could even pay it off.  Then, move on to the next deal.

I'm new myself, but I would guess Queens is hot because it is close to Manhattan.

Are you open to out of state investing?  For example - You could take $30k and put down on a income producing property and put the rest into a index fund.  There's a lot of options for you with $60k outside of NYC.