All Forum Posts by: Desmond Etheridge

@Marcello Pirrelli

I am also looking into Turnkey Properties. One company that I have had conversations with and plan on doing business with is Rent to Retirement. I have read positive reviews in posts on BP related to their work. They work in a number of states (OH,TN & MO).

@Devin James

I don't even know you and I'm proud of you! From this post it appears your are good and making life choices. Take the time to consider your options. A couple of things to think about:

What is her time table for marriage? If she is your forever, what does it matter if you are engaged next week or after law school? You two should discuss your long term goals.

Also consider lab created vs. Mined diamonds they have all the same properties of a diamond and are slightly cheaper. No it's not cubic zirconium. They are carbon based and can not be distinguished from the ones mined unless you use a highly powered magnifier. Of course talk this out with her.

Could you possibly buy a home get multiple roommates to pay your mortage and also profit? If you can make $300 a month for a year, you'd have close to what you need for the ring just a little bit later down the road.

Lastly the power of compounding interest and growth of money over time are powerful things, but you have to decide if that is something that you want to focus on while your are working your way through law school.

Good luck in everything you do!

Great information, Tyler. Would you do anything differently if you were to do this deal again knowing what you now know? How did you go about finding a tenant?

I am interested in buying a multifamily unit in Louisville, KY to begin my real estate journey. I currently own the condo unit I live in, so living in part of the property I look to invest in is not an option. I have been told by lenders that to buy an investment property with multi units will need a 25% down payment. I am considering tapping into my 401k to use for the down payment and maybe having the property put into an IRA. I am looking for advice on when it would make since to use retirement savings for Real Estate.

I understand the power of compounding interest and am concerned that using 20k from the 401k to move towards owning a rental property could be a high risk, high reward scenario. Any financial advisors, experienced investors and investors that have taken similar approches to fund a rental property, please provide insight. The current property I am looking at has details listed below:

Duplex, 2000k sqft.: Both Units 3bd 1ba

Price: 86k

Includes off street parking, separate laundry rooms per unit, separate meters