All Forum Posts by: Alex Shaughnessy

Sell it when you leave. Its 30 year FIXED. meaning no matter how much money  you put into it, the payment stays the same. yes you will pay it off earlier but that's a lot of work for 2400 per month in rent when you can be putting into better CF properties

Welcome and good luck on your journey

Thanks for the story, you made it sound attainable. Thank you for your service

From my understanding it was deductible until this new law has passed. I am not sure on the details though

I have a heloc w/ a credit union and there were no fees. I got a fixed rate for the first year and variable after. Interest only payments so flip that house quick so you can put the money back, or make sure your cash flow on a buy and hold is good enough to pay the interest on the heloc until you can refi out of it.

Its like a big credit card. Usually the underwriting process is a bit easier. They will extend a credit from the equity of your home and you can withdrawal as you please, and then put it back whenever. This way you dong have to keep refinancing your house to get cash for deals. It is usually interest only payments for about 10 years to which you need to put the entire principle back. The interest rate is usually variable so sometimes It can get a bit scary. My apologies im a bit scatterbrained this morning but I hope this helps at all.

Good luck and congrats on not giving up and making it happen

Welcome.... dig in

Welcome and good luck on your journey

@Dmitriy Fomichenko  im not sure if its inside an ira. she rolled over her work 401k plan to the annuity purchased from an insurance agent

@George Blower former employer 401k rolled into an annuity from an insurance agent

@Carl Fischer  I don't want my mom to pay any more taxes than she already does w/ the conversion. my plan was to inherit it on its stepped up basis and possibly convert it from there. does that sound wrong?

@Bernard Reisz I agree. She has had it since I believe 2011-12 and I have seen virtually 0 growth. and if it was more aggressive it could have taken better advantage of the economic recovery.

Thank you all for your feedback.