All Forum Posts by: Kristi K.

 Haha, you just made my day Tim😂

As a new STR player myself all I can say is we have 24 nights booked out of 31 days in July and our place has only been listed for a month. We are pleasantly surprised and have three 5 star reviews already.

@Victor Hoffman You need to research the rule of 55.

What is the rule of 55?

The IRS rule of 55 recognizes you might leave or lose your job before you reach age 59½. If that happens, you might need to begin taking distributions from your 401(k). Unfortunately, there's usually a 10% penalty—on top of the taxes you owe—when you withdraw money early.

This is where the rule of 55 comes in. If you turn 55 during the calendar year you lose or leave your job, you can begin taking distributions from your 401(k) without paying the early withdrawal penalty. However, you must still pay taxes on your withdrawals.

Not only does the rule of 55 work with a 401(k), but it also applies to 403(a) and 403(b) plans. If you have a qualified plan, you might be able to take advantage of this rule. You can verify the status of your plan by checking with the Summary Plan Description you received (or can access electronically) for your workplace retirement plan.

P.S. - I left the corporate world at 55 in 2016 with a 7 figure 401k and it will be an 8 figure 401k in another few years because of real estate. Don't let people discourage you that you shouldn't pursue real estate in an IRA…. Listen to Brian too, he's one of the best things about Bigger Pockets. Best of luck.

When you go to sell it it will have to have a clean title or you will have to sell it for a discount. 

No one in their right mind would pay you what it’s worth without a clear title.

@Rachel Kelly Flipping is for pancakes, buy and hold is what makes you wealthy in the long turn.