All Forum Posts by: Logan Larochelle

Hey George so basically what you’re saying is my job might not let me take out a early withdrawal if I’m still employed with the company? Not sure How they work exactly but what I’m seeing is that I can take out a loan or a loan for my primary

So the situation I am in is I found a duplex that I can cash flow, but it needs some work and I would need to take out my money from my current jobs 401k and take a hit on the penalty of a early withdrawal. I wondering if this is recommended and is it something other investors have done. My 401k is around $47,000 own $6,000 in a loan through the 401k So the question would be leave the 401k alone and lose the house or take the 401k out to get the duplex

I’m looking to do a 1031 exchange in Florida.. On episode 250 Brandon was talking about a 1031 exchange and how you have 45 after the sale to find/buy another property so you don’t get taxed. My question is Cardone said something about 6 months and to read in between the line.. what was he referring to about the 1031 exchange? He didn’t want to say it on the air but is there a way to get around the 45 days exchange period?

So we have a 1/2 duplex 3/2 that I bought Back in 2013 for $43,000 and is currently valued $130,000.. my wife keeps saying she wants a bigger house/nicer place.. Would you brrrr the property or find another property and sell the 1/2 duplex? My problem is I don’t think I will get approved for another home at the moment without selling the duplex. I have 2 homes with a total mortgage of $90k and make around $60k a year

Hey josh I live in Orlando also is there a lender you prefer for a cash out refi? 

Originally posted by @Josh Calcanis:

@Orlando Samayoa I'm actually in the process of a cash out refi right now. I'll be planning to purchase another buy and hold here in Orlando. @Brad Gibson mentioned the benefits already, but the only other thing that pushed me to a cash out refi is the fact that I could get a lower interest rate. If you've already got a good interest rate there, a HELOC will allow you to take a line of credit without changing the payments on the current mortgage.

Ok that makes sense.. Would this property be a refinance candidate to you? Owe: $39,000 Mortgage I+T: $370 Rent: I live here but rent goes for $1,100 in my neighborhood Valued at $120,000-$130,000

What are the pros and cons about BRRRR and I understand about increasing the ROI. But say the market crashes you refinanced you're properties to the max (75-80% of the value) wouldn't the risk of losing everything be higher? And the point of refinancing is to have cash on hand even though you increase the risk? I'm just trying to figure out what is best I'm just trying to weigh my options. I would say I'm conservative and like to play it more on the safe side

I have a few question and How this whole process works cause I'm getting a few stories from people that have never delt with this Situation So my question is should I have a roofing company meet with the insurance adjuster? The roofing company is telling me they want to be there at the time the adjuster is coming over and that the insurance company will send them the check instead of me and I won't have to deal With anything My mother in law is telling me that I should not have the roofer meet the adjuster just yet and that the adjuster will give me a check then I go get quotes and I should have a good amount of money left over after I pay a roofer to do the job. Any advice would help a ton.

Hey Melvin.. how does that work would a broker raise the interest rate or fees I would pay to get there commission? Or how does a broker work exactly for a mortgage companies

Kind of new to the site.. I'm currently on the bigger pockets app and I cannot see the option to pm you