All Forum Posts by: Craig Hewitt

I like the option of converting some of my IRA into a Roth and then using that money to grow a small RE basis. When you convert over to Roth though you have to pay your current tax rate on that amount, correct? At least you have access to some of the capital prior to 59.5.

I am neither a tax expert or a financial planner, but I would add one thing to this conversation for us all to think about: If we're highly motivated, successful investors and entrepreneurs, what are the chances we'll want to wait until 59 1/2 to retire? NOT ME! You don't necessarily need to call it "retirement" because I don't believe in the concept of retirement. But as I understand it all of these options (any tax preferred investment vehicle) restricts your access to any of that money until the age of restriction within that vehicle. With 4% interest rates, and even with slightly elevated home prices at present (especially relative to what some of us missed 3 years ago), and all-time record breaking S&P 500 as of yesterday it would be hard to convince me to not put all of the money I could get out of my rollover IRA to work as downpayment in long term rentals. I understand you'll only 'bring home' about 55% of the money that's currently showing in your account...but how powerful is instantly accessing 50-100k to use as leverage in good cash-flowing real estate. Would be interested to hear @Jeff Brown comment on this thought. He's written a lot of thought provoking articles on the topic.

Shoot holes in my argument, please.  I may pull the trigger tomorrow.

Ah drones. I agree they'd make all of our lives much easier (and probably less safe), but I'm afraid that's out of bounds with the type of project I'm capable of. Now the project scoping software is very do-able. How many others either don't have a good software based process they follow or are unhappy with what's available out there? Would you put property management into a similar category of need? I hear so many people complain that their property management needs just aren't being met. Would the confines of a software program help that?

Looking for a little insight from some seasoned BP investors. My wife and I are very part time RE investors at this point, but my full time passion for entrepreneurship is in the world of software and technology. I marvel at sites like YellowLetters.com and ListSource.com and how they've met a very specific need in the REI world. So I'm wondering: What pressing, unmet need is out there for those of you who are big time into real estate investing? What wakes you up in the middle of the night in cold sweats? I see over and over how necessity is the mother of invention, and I just need a little vision from those of you who really experience some of these NEEDS on a regular basis. What would you really benefit from in terms of software, web services, etc? I'd be happy to take the conversation offline or in PM if you'd prefer. I thank you all for your input.

I have built a dozen websites on Wordpress and it is very straightforward.  Nice thing about it is that it looks pretty good out of the box and with a little simple code you can really get it looking very custom.  The design of it is also inherently very good for SEO purposes.

Like many others here I've also used GoDaddy but didn't like the constant upsell and have heard plenty of nightmare stories about poor customer service.  I use Hover.com for my domain registration and Bluehost.com for hosting.  I'd echo what @Beau Blinder  said about not hosting yourself. Bluehost, hostgator, or if you want a premium service WPEngine are all as good as most of us will ever need.  If you hit it big from there you can upgrade services.  

PM me if you'd like to talk more specifics....I'd be happy to help out.   

Bump. Interested in investing in the area as well and am out of state.

Right, but what about the "clicking" sound when you walk on it? That's my hesitation with a floating floor.

Can it be done successfully? I've read a lot of the opinions in the forums about laminate vs. hardwood, but the real deal (hardwood) isn't an option as we're wanting to continue the same look downstairs (slab) and upstairs (over plywood decking). I know we'll have to glue down over the concrete slab, but it's such a giant pain in the neck I don't want to do it upstairs as well. Many thanks for your thoughts on the subject.

hi Meghan did you end up finding a good property manager fit? I'm in the same boat as you, wanting to invest long distance in Nashville. If you've had success it'd be great to pick your brain about how the process went for you.

BP Nation, I am looking for a seasoned wholeseller (or is it wholesaler?...person who wholesales houses) in the Nashville, TN market. I'm will be making a couple of purchases a year for long-term hold/rent in the area over the next several years and would love to get plugged in with some folks who are local to the area. I live out of town now, but have lived in Nashville twice before for a total of about 8 years, so I know it well. Looking forward to connecting with you.

Thanks.

Craig