All Forum Posts by: Austin Stables

From people I've spoken to I've heard that Shirley has a bit of a reputation about it, but no one that I asked could really put there finger on it either.

I would second what William said also, I can point you in the right direction for a flood insurance/flood zones specialist in the Long Island area if that's of use to you too! Good luck!

This is brilliant! Congratulations! Be sure to keep us updated, I'd love to hear of your progress!

I just wanted to update this thread as my goals have become updated also.

I have a vision to get a 203K loan on a foreclosed property with the vision of house hacking that property. Then from there my intention from there is to look into a 1031 exchange, or to do the BRRRR method and rinse/wash/repeat.

My absolute dream would be to cashflow around $1000/1200 extra dollars a month over and above expenses so that my wife and I can enjoy some quality time to travel the world, spending a month here and there in exotic parts of the world.

If anyone has any information they'd be willing to share, any tidbits of information or has any mortgage related questions that I can be of assistance to anyone, please don't hesitate to ask. I am looking to be as much of a useful resource to this group as I can!

Originally posted by @Christopher Phillips:

@Kimberly Keesler

@Jason Chen

No. IRS considers sale of stock in a brokerage account as mutually exclusive from real estate purchases. So, there's no mechanism to sell your "Ebay" or "Tesla" stock and roll it into a house.

If the shares were held in a 401K, you could take a loan against that to use as a down payment. Or if in an IRA you can withdraw up to $10,000 to use as a down payment without a penalty for a first time homebuyer. But, if the stocks are held in a regular brokerage account and you sell them you'll have to pay capital gains taxes unless you have enough losses to offset your gains.

This was really informative, thank you very much!

Would there be any potential for you to find employment in a more desirable investment location? 

Thanks for the update, definitely looking to make it to the next one!

Thanks very much guys! I notice you're an audio engineer Dave Visaya music is my secondary passion! We should definitely connect!

Hi guys and gals! My name is Austin Stables, I am a newbie from a place called Stonehaven in Scotland! I currently live in Patchogue, NY which is a great up and coming place. Looking to learn as much as possible, connect with as many people as I can, read as much material as possible and to share as much knowledge as I can to help anyone I may be able to help. My background in real estate is limited but growing. I worked with a reputable small business finance broker doing SBA loans, cash advances, LOC's etc after making my move to mortgages at the turn of the year. Still very much a newbie in most aspects but looking to become well versed as soon as possible. 1 year goal - to be in contract on an investment property 5 year goal - to have 3 sources of passive income/2 multi family properties 10 year go - to have my property portfolio overtake my W2 income Please feel free to reach out to me and connect, I am always looking to make new acquaintances!

My company offers 203k Loans and we are licensed in Virginia. Would be happy to assist in anyway possible.

Hey guys! I would love some information regarding the meetup! Thanks