All Forum Posts by: JR Hinds

Thanks for the extra information @Gautam Venkatesan  If that's the case, I may have to wait to use this strategy on the next property. I'm not sure I'll be able to get a 40% stuffed into my Solo 401(k) this year - contribution limits. But I'm really intrigued by the idea. And I'll start stuffing my Solo 401(k) as full as possible.

Fascinating topic. It didn't occur to me that I might be able to use my Solo 401(k) to buy rentals. I was just about to make another contribution to my Solo 401(k). And I'm starting to look for another rental. I'll do a little more research and see if I can buy the rental through the Solo 401(k).

One challenge is that I was planning to put 25% down and finance the rest. How difficult is that if the down payment comes from a Solo 401(k)? Does the Solo 401(k) own 25% of the property and get 25% of the net income?

Thanks, @Kyle Penland  I just found a few threads that each had some questions to ask.

Good advice, @Dawn Anastasi . I'll make sure to get some references.

Thanks for the alternate strategy, @Account Closed I'm leaning toward Atlanta, GA right now. It looks like a good place for small multi-family buy-and-hold. I'm chatting with one guy on Friday morning who may have some connections to a Property Manger there. I feel like that's where I need to start. Does anyone have a good PM connection in Atlanta?

It looks like my next purchase will be out of state. I know people in the industry in my home town, so it's not difficult to find a good property manager and stay on top of them. But finding a good property manager across the country will be more difficult. Does anyone have good suggestions for identifying a few good property managers in another city to interview? And then do you have suggestions for how to interview them?

Wow! More great advice. My challenge is that it's a very strong sellers market in Portland, OR. I appreciate the thoughts and it sounds like finding a good PM in the areas I'm looking is paramount. Any suggestions on how to find a good PM? I can go to the local PM association website, but that just shows me who's paying their association dues. And Yelp shows me who the tenants like.

Thanks @Engelo Rumora! I read the posts and got some good information out of them.

I wasn't on BP when this thread came out a year ago, and I read several pages of posts before I wanted to get to the end to find out what the current discussion was. I started out 7 years ago after reading RDPD. I had a ton of equity in my personal residence and ended up taking a HELOC to put money down on a triplex. The property was forecast to cash flow on 2 years at 100% financing. I have a strong business and could afford to feed the property for a little while. I chose the wrong property manager and had one curveball thrown at me, but we got that fixed and the property was positive in about 3 years. Now, I'm ready to leverage my rental and residence to a level I feel comfortable and it looks like I'll be able to buy 2 more properties this year. I'm sure you've all played Cashflow 101. That game, while pretty basic, helped me practice a bunch of different strategies for RE investing and find the one I liked the most. The best exercise was to run my own numbers and play using those. Believe me, the first thing I did after playing that game was to cut doodads out of my life and pay off any 'bad' debt so I could create cash flow.

Yeah, the GoPro is perfect. They have software to smooth out the shaky camera and also to convert the wide angle. The software comes with the GoPro. I'm learning to fly and use it in almost all of my lessons. It would be a great tool for showing property.

Thanks for the great advice, Jay Hinrichs ! I'm still new and didn't know what you meant by TK company though. And do you know of any good resources for identifying good markets across the U.S.? I've found a few cities from reading BP blog posts, but I always like to have as much data as possible.