All Forum Posts by: Courtney Downtain

I agree with both of your input. I am in the same boat as Yvette in the Houston area. New investor looking for a multifamily to occupy as my first purchase. If I were presented with a duplex of that sale price, and also in an area I would consider living even for a short time, I would go for it. Even if mistakes are made along the way, it's a great learning experience. The most important thing to remember is to have a back up plan in the event that something turns sour. Congrats, Yvette! Happy investing :))

Hey BP team!

I need some advice on how to pull my 401K for investing purposes. I want to be able to rollover a portion of my current employer's 401K into an IRA account, but all of the FAQ's I have read seem like a Roth IRA is the way to go if I want it to be tax free. I am just learning about the differences in accounts. Everything I have heard about using an IRA for investment purposes is to go with a traditional, but I read that if I roll it over into a traditional, I will be taxed up front. Is this true?

TJ P. Sorry - I found the property on Craigslist* not Zillow

Brian Lacey that's why I'm asking for advice :) I won't go into a deal knowing it's going to fail, but at the end of the day if it's close, I will take the risk to get my head in the game. This one seems TOO risky to jump in so I will keep looking. Thanks for the advice!

Zach Evanish the property was just rehabbed. So my question is, is there an ARV if it was just repaired? Wouldn't the ARV be the appraised value at this time?

TJ P. I found the property on Zillow and from the looks of the purchase history, it was sold in June and back on the market end of July so this one was rehabbed and the-listed. It was not advertised as turnkey.

This is all amazing advice and thanks to everyone for posting and helping me. The property tax is actually a lot higher after diving deeper into it. I think I want to pass in this one. It's advice like this that helps me to learn and grow so thank you all!

Hi Tristan S. So sorry for the late response. BP didn't give me a notification that anyone responded. I have only sent out 1 campaign since then and didn't get any bites. Not losing hope. I know I didn't send enough(250), but I was having issues with the mailing website. I figured it out and am about to send out 500 from a new tax delinquent list. Hi Anthony Beckemeyer I would be happy to add you to my buyers list. Will you PM me your email address/ phone #? Thanks All!

Thanks for your input Debra R.!

Hi BP team I came across a single family in the north houston area and I'm thinking about making it my first purchase as a turnkey rental. I have had analysis paralysis too long and I need to act! I would love some advice on if this is a good deal or not. Here are the details: Asking price: $125,000 Sq ft: 1,197 Bed/bath: 3/1.5 Property tax: $725 Insurance: $800 Down payment: $10,000 Calculated mortgage: $889 Desired rent rate: $1,100 Cash flow: +- $200 If anyone could analyze the numbers and let me know what they think I would be so grateful! Like I said, I am ready to step up from the sidelines and get in the game but I don't want to make a horrible decision. I appreciate any help I can get! Thanks :)