All Forum Posts by: Joe Khan
Joe Khan has started 2 posts and replied 21 times.
Post: What is a solo 401k and why should i have one if I'm starting out
- Posts 23
- Votes 4
@George Blower
Thank you
Post: What is a solo 401k and why should i have one if I'm starting out
- Posts 23
- Votes 4
@Mike M.
Thank you for the information. I will look into it
Post: What is a solo 401k and why should i have one if I'm starting out
- Posts 23
- Votes 4
@Dmitriy Fomichenko
Thank you for the advice !
Post: What is a solo 401k and why should i have one if I'm starting out
- Posts 23
- Votes 4
My wife and I would like some information about a solo 401k
We have decided to invest in real estate and would like to invest under a LLC.
I read a few post about solo 401k but I'm unsure of the benefits.
My questions are :
Why should i open a solo 401k ?
Who can I go to so i can open a solo 401?
How do investors use the solo 401k for their benefits ?
Thank you BP community for any help offered.
Post: Can you invest with as little as $10k
- Posts 23
- Votes 4
Originally posted by @Charlotte Dunford:
@Marduk Mooshoolzadeh my parks are in GA, IL.
Is there room for a new investor to buy distressed properties in your park ?
Originally posted by @Sheryl Sitman:
@Jason Homa @Bennett Schwartz @Joe Khan Wondering if you all would agree with the idea that a remote investor or a new investor should really not be relying purely on the investor - contractor relationship, but must have a reliable, trustworthy, knowledgeable intermediary looking out for his/her interests?
Yes I agree. What services does your team offer. Please PM me.
Post: The NYC Market can't handle BP plans
- Posts 23
- Votes 4
Originally posted by @James Post:
@Adam K.Thanks for reaching out. Always great to talk to other NY Investors to get some insight and previous success in this tough market. By the end of this summer I will be investing in my first property. I will also house hack with a FHA loan. But looking more in the Westchester area (although taxes are rediculous). I won't be able to afford the boroughs really.
I have been doing quite a bit of research in other areas about an hour or so away from NYC. Area including Albany, Peekskill, Rockland County by Monroe. Also considering places in CT such as Norwalk and Stamford. We can get multifamlies in the 175-225,000 area which is good for cash flow. Just need to find which of those markets are best.
Did you FHA loan your first house hack? And are you now living in the Multi-Family in Brooklyn?
Happy to hear your finding success in this market brotha.
Best,
James
Were you able to house hack with FHA loan ? looking for a "HOPEDATE". My wife are looking to invest and hope with find something by summer time.
Post: The NYC Market can't handle BP plans
- Posts 23
- Votes 4
Originally posted by @Eric DeVito:
Im a newbie investor as well from Brooklyn, NY. I agree very tough to get started here. I am looking out of state, but very nervous and trying to come up with a plan first and do more research before I make any moves.
Were you able to locate a property out of state ?
Originally posted by @Benjamin Qiu:
Agree, I came to the conclusion that the market is just too hot to be buying, but still having an eye out for potential deals. I do realize listings are staying on the market a little longer lately, but who knows
Originally posted by @Jane Wish:
Originally posted by @Marzan Khan:
@Benjamin Qiu was spot on here with his forecast of the Ozone Park, Woodhaven market given pick up in price and demand in the past few years.
Curious to know if other people are finding cash-flow-positive rental areas in Queens still? My radius has now shifted to The Bronx but wondering if there’s still untapped value within Queens that I may be overlooking. Cheers.
I have been struggling to find a cash-flow-positive place in Queens for the longest! It seems almost impossible with any of these Coops and the houses are just so expensive. Would love to know the answer to this as well! T_T
I believe everything is over priced as well. Very challenging market!
Originally posted by @Elizabeth S.:
Hey everyone,
I'm also a Queens investor. I recently put in an offer on a place in Rego Park, was listed at $140k but needed about $20k in work. I offered $120k, then $130k... and decided that $160k all-in for a Rego Park studio was too much (they wouldn't budge from $140k). That said, I did plan on living there. Anyway, I'm still on the hunt. Live in Sunnyside currently. I have a private lending option of $100k with a 5% interest rate and can come up with the rest myself. However, I'm really not wanting to spend over $200k. I think my sweet spot is going to be Jackson Heights/Elmhurst.
Please reach out if you guys ever connect in person, I'd love to engage.
Elizabeth
Any updates on the property ?