All Forum Posts by: Account Closed

I agree with @Anthony Wick.  Get it into the market.  

You're essentially robbing Peter to pay Paul.  Work hard, pay off all consumer debt, build up a nice cash reserve.  Most importantly, control your spending.  Once all of that is under control, then consider real estate.  

@Steven May

You might find what you're looking for here:  https://www.bogleheads.org/forum/viewtopic.php?t=161092

I also subscribe to the following:

-  Focus on savings rate

-  Live below your means

-  Invest early and often

- Fund 401k up to match, Roth IRA (if eligible), remaining 401k until maxed, taxable accounts (in that order)

-  Have fun and do not make things too complex

I am in NY, but have rentals in Little Rock.  Have you been to Little Rock or have plans on visiting?

My response is based on the assumption that this is all your cash in the bank.

Max out a Roth IRA - $6,000 (low-cost index fund; can grab funds later penalty free if needed)

Savings account - $14,000 

Educate yourself.  Find the route that fits your investing style.  Be patient.  Keep saving.
 

Side business.  I have a W-2 as backup.  

I closed on the last two rentals at a bar and a coffee shop.  The title company sent a mobile notary to a location chosen by me and I signed everything.  I sent money via wire transfer and I gave one a cashier's check and they sent it back to the title company. 

Talk to your title company.

@Melody Kushi

I think you should keep the money in your 401k and work on your asset allocation between stocks and bonds.  Then, rebalance as necessary.  I assume you do not need this money for decades.  Why would a recession be bad for you?  It would be a great buying opportunity.  Imagine loading up on equities in ~ 2008.  What would your return be today?  How passive would all of those gains be?
  

Ask yourself one very important question.  Why doesn't he fix it himself?

From the info. you provided it sounds like he wants to decrease his risk and have someone fix it up while he sits back.  Ask him about selling the condo and see how quick he may or may not be open to selling.  You may find your answer...

I also invest in Little Rock (my hometown), although I live in Brooklyn, NY.  Try looking at the submarkets around UAMS, UALR, and St. Vincent.  There are some interesting developments going on in Little Rock.