All Forum Posts by: Frank Rodrigues

@Peter Morgan

Hey Peter,

No need to set up a solo 401k if you want to go the SDIRA route (which I highly recommend in your situation) and once you have a SDIRA set up you do not need an LLC. The SDIRA is an entity of its own that you control. I have helped a lot of people set one up so if you have any questions feel free to PM me. I hope that helps and best of luck!

James,

Because I don't know how much money you have in your 401K, what you are earning, your financial goals and your age it's difficult to give you solid advice but because I have helped a lot of people (100's) switching from a 401k to a SDIRA to more than triple their returns annually I am a big supporter of this move. But since I don't know your situation fully it's hard to say but if you want someone who has experience in this to talk about the advantages feel free to PM and I would love to help. Best of luck to you! 

@Jason Risley

Completely understand and thanks for the response. Send me a colleague request, I would like to share some things with you that I believe will benefit you. Thanks 

I would look at Ohio as another option. I have had success in Cleveland and Dayton. Columbus has been great as well for many others. I hope that helps. 

Hi Jason, 

Congratulations, you seem to be in a great spot! Since you are open to different markets what kind of cap rate and COC return are you looking for? What would be your ideal scenario for a multi?

Personally, I would go with multi-family in a market that is reliable with a track record of good cashflow and appreciation like KC. Your money will go a lot further and with what you are working with you could be close to that annual six-figure threshold if you know where to look.

If you are planning on managing it yourself then I would wait but if you were going to hire a PM company to do it for you then waiting makes no sense IMO as long as the numbers help you achieve your goals. I hope that helps and best of luck.

IMO, the numbers are always more important than the zip code. You can find good deals in many "hot" markets and even not-so "hot" markets, it really depends on what kind of team you have and what type of property you are trying to acquire. Indy, Columbus, Raleigh, KC, Michigan... these are all places that you can find good deals in. You can choose one or choose all, the most important thing is to make a choice and go. Just remember, in real estate you make money when you BUY! So start buying! I hope that helps and best of luck!

You make money in Real Estate when you buy not when you sell. More dorrs more money. I would keep and add, KC is a great market to cashflow so you are in a perfect place to start! Best of luck!

You said "cash flow" was what you were looking for out of state. Well, there are many states that can give you "cash flow" but they are not equal in returns or equal in being landlord-friendly. If you want double-digit cap rates and COC returns that are landlord-friendly, I have found that KC and OH have been great at delivering those types of returns. I hope that helps and best of luck!