All Forum Posts by: Jason Braddock

I have funds in a 401k from a previous employer that would cover a down payment for several investments I have looked into. I have read a few things about them and am just unclear of how to get that setup (through the institution they are sitting in or an institution that specializes in this?) what are the limitations on these and which I should go for (IRA or 401k). if anyone is experienced in this I would appreciate any advice.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $145,900
Cash invested: $90,000
Sale price: $342,500

The big items to note were the kitchen transformation with the Hex tile floors, the backyard which was a jungle when we started, and the refinished floors that were in terrible shape from a house full of large dogs. but there wasn't much that didn't get changed out or painted over.

Hello everyone,

I have been reading and listening to podcasts and books about rental income properties and am still working up enough confidence to strike out.

I currently own a property that appraises for about 300k over the remaining mortgage. I flipped my last house starting with a $15k down payment and made 6 figures on it when it sold and was able to pay off my school loan and  fund the down payment for my current house. 

So I feel like I have a decent foundation for the real estate part, but no experience with the landlord side of things. 

Currently, I am looking in other parts of TN and AL - mainly Knoxville, Chattanooga, and Huntsville for multi family properties that I could potentially fix up (not looking for big jobs) and rent out. With the equity in my house I am looking to get a HELOC for down payment and to fund the rehab.

I look forward to hearing from others.

Thanks,

Jason Braddock