All Forum Posts by: Karen O.

Ques:. Is this a SFR? If so, where will your parents live when the property is rented?

Is it a fixer? If not a fixer, then you should be checking comps since appraisals used for bank financing will likely be based on them. If the comps suggest the property is seriously overpriced, then maybe you've a shot.  However, if comps in that mkt suggest he's priced well, then you'd be wasting the sellers time.

How about an REO with a property preservation team that left a fridge full of food and a standing freezer full of food in the house for more than 18 months? Found that along with mold since they shut off the power to the sump pump. I must be out of my mind. I'm wishing myself good luck. I hope to have a success story to share soon.

Yes.

I'm with @matt Ries on this. If you can refi for 4% or less, use the funds to pay off the student debt.

Otherwise, sell it use the proceeds to pay off the student debt and use balance as a down pymt on your next multi purchase..

@William Westfall Congrats on your progress.  Which paint sprayer did you decide on?

A few thoughts: Higher risk doesn't always mean higher reward though it almost always means higher cost. Consider options with lower costs and broad market exposure. If your plan has a predetermined portfolio option, consider choosing it. If you have an advisor, ask them to  help you select the right mix of funds. Remember to rebalance regularly. Understand the vesting and matching requirements of the plan. Try to capture the max needed for both.

Good luck.

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This is not always true.  Some plans allow a separated employee to continue to make payments after separation.  It depends on the plan setup. 

A law was created (Pension Protection Act of 2006) that limited vesting schedules to 6 yr maximum with some % of vesting required to start by yr #2 or 100% vesting after 3 yr if the employer doesn't allow for a gradual vesting schedule in the first 2 yrs. 

As of 2015, most employers have shorter schedules (5 years or less.) And about 40% of employer's have 100% immediate vesting.  

All the more reason to check and know your company's plans. 

If there's a vesting schedule, you gain non forgettable rights to the employer contribution over that time.  And that too is important to remember since each year of employment brings you that much closer to that full pot.