All Forum Posts by: Jonathan Bock

Looking for a financial advisor to talk to. I need advice on making an investment plan. I have 95k in retirement funds. I have 65k in stocks, 25k in cash. Currently put 18K annually into employer retirement, 10.5k annually into savings. I want to invest into RE. Does it make sense to back off on employer retirement contributions and save more cash? I can't use a self-directed IRA, as I am still employed with company that holds that bucket of money. There would be tax implications as my retirement lowers my taxable income. Any advice or recommendations on whom I could talk to.

Thanks

@Eric Downing I think most people over think the asset protection thing. For the majority of investors starting out it should be fine to hold several properties in your personal name as long as you get an umbrella policy to cover extra liability.

Massachusetts is a pretty left state so if you’ve got a lot of assets it might be a good idea to do some planning with an expert.

But likely if you’ve got good insurance and an umbrella you can worry about LLCs and trusts when you get bigger.

I have been an accidental landlord for a while , took over a 600 acre farm in Kansas and have been leasing it out for about 20k/yr --no mortgage and about $1500 in taxes and $15/mo for water. Now live in Colorado Springs, and own a home here practicing as a surgeon. I have about 2 million in equity in real estate and 300k cash. I do not want to touch retirement saving of about 2 million in stocks. I am building a team for real estate investing--interviewing investment brokers, getting mortgage set up with my financial guy, interviewing contractors/handymen. I do not need cash flow at the moment, I would like to continue building equity and use for tax advantages of depreciating assets. The market is expensive here but softening substantially, I got 15% off asking of my private residence 1 yr prior for example and negotiated a 5.3% 15yr fixed for 700k on the property valued at 1.7 million (the rest was paid in cash). I really do not have the time, experience or desire to be a hands on landlord for inexpensive housing. Do you think it is better to manage multiple doors that I can do monthly rentals for medical professionals in at need areas ( think Pueblo, CO) or more log cabin/acreage for STR and monthly? Just not sure what makes the most sense in terms of a buybox. Tks

Hello,

I own a single-family home in Humble, TX. My current rental property insurance has gone up significantly, and because the home is older, I’m having trouble finding a competitive quote. Does anyone have recommendations for local insurance companies?

Is it worth it to hire a financial advisor? The one I found seems to understand my investing goals and my tolerance for risk well. Its a $1,500 annual fee and I'm nervous that they might just try to sell me life insurance or something. What is your experience? What should I look for in a financial planner?