All Forum Posts by: Kris Martinez

I didn't read all the responses, so I am sorry if this was already addressed. Your 401K distribution will be taxed at your ordinary income tax rate. Do keep in mind the tax implications your distribution will have on your tax liability, unless you allow your investment brokerage to withhold taxes. The 10% penalty for early withdrawal is exempt up to $10K per individual if used towards the purchase of your first home. Consult with your tax preparer and keep good records. If you have access to the funds and can handle the ordinary income tax, then it is your money to use. Compare the performance of your portfolio to that of your real estate investment. 

Hi David, welcome. I'm in San Antonio, Texas. If you need dependable resources out here, let me know. 

I wanted to share my experiences working with Federico Gutierrez from Holton Wise. My disclaimer: this post is about Federico Gutierrez and his professionalism and my experience working with him. I will update this post once we close our first deal and I have had a chance to work with Holton Wise property management.

I met Federico through the BP Marketplace. After 2-3 months of analyzing deals, putting in offers, or even walking away from a deal after the inspection, we will be closing on our first deal together in about 30 days; but, it doesn't take closing a deal or a certain number of days before you can sense a persons' integrity or how a relationship is going to turn out.

Federico is an investor from Australia, so when I first contacted him, he was overseas doing his annual inspection of his properties. Even with the 9-ish hour time difference, I would have never thought he was in Australia. It seemed like he was available when I needed him to be, and to this day he is extremely responsive at any time of the day. 

I am a big advocate in having strong relationships, so I prefer to ask a lot of open ended probing questions searching for responses that force people to talk and give me their opinion. You can learn a lot by just listening. What I continue to enjoy about working with Federico is when I ask questions he gives me thorough and thoughtful responses (and still does). He speaks the language of a real estate investor and has challenged me in my analysis. He understands the numbers and is respectful of my KPIs in a deal. Most importantly, as an out of state investor, his expertise in the area is critical. For our current deal, Federico visited the property after repairs were made, took pictures, and spoke with the tenants. It is the little things that count and Federico is checking the boxes.

Federico is the best investor-realtor I have worked with. He is a hard worker and I am looking forward to doing more business with him. His success is important to me; as he develops his network and group of investors, I think he will not only to continue to provide excellent credible support, but he will use his network to bring even more value to his investors.

@Federico Gutierrez

@James Wise

Welcome Julian. Lots of great resources here and in San Antonio. Look forward to seeing you around!

@Federico Gutierrez congrats! Wishing you guys the best of luck and much success.

@Houtan Moravej, I am an out of state investor and have been working with @Federico Gutierrez and @James Wise with Holton Wise. I can vouch for Federico's knowledge of the local market and trust in his advice and guidance. If you have any questions, do not hesitate to reach out.

Hi Kory. Congrats on the new job with EY. I did my 2 years. Based on what I've read here, I think you are definitely on the right track. I don't think you will ever get to the point where you feel like you're not "stuck." Those feelings just adapt and change as you become more successful. The important thing is to get started. 

Personally, I know you will have stable employment and income, so my first suggestion would be to take your offer letter to a mortgage lender and inquire about an fha loan. It's a very minimal down payment and easy on credit requirements. Once you're prequalified, find a realtor, and find a good property. Once you do find a property, post it up here on BP and ask others help you analyze it. With the affordable property values in Ohio, you're signing bonus should cover your down payment and if you can negotiate seller concessions, that'll cover your closing costs. Don't think you have to wait. Once you get into busy season, your free time will pretty much be gone..

I'm doing business in Cleveland. If you want referrals, pm me. Good luck!

Welcome! Have an open mind to learning, be realistic with your goals, find someone who is doing what you want to do and learn from them. 

 Sent you a pm. Please email me info for your inventory

Welcome Jerry! Let us know how we can help get you started and happy new year!