All Forum Posts by: Luka Milicevic

I haven't read through all of the comments so someone might have already mentioned this, but there is a rustoleum kit for $250 that restores existing countertops. It's worth looking into.

Other than that, you can get laminate countertops for relatively inexpensive.

Good morning BP,

I can't tell you how excited I was to send out my first mailing campaign last week. I started very small-emailing one subdivision close to where I live. 

I'm emailing absentee owners-there were only 4 of them in the subdivision and I'm emailing individuals with very high equity in their homes. I'm actually looking for a primary residence for myself and my wife and the plan is to rent the home we currently live in. The area we live in has extremely high rents and our house would cash flow really well.

I sent out 40 letters. Printed text, hand written mailing address. I thought it was more personal to hand write the address and send it in an envelope.

Well, I mailed my 40 letters and was working on my next batch of 40 letters and.......

I realized I left the last digit of my phone number off of all the letters I just mailed. (Insert exaggerated crying emoji). My email was correct so we will see.

But seriously, who leaves a 9 digit phone number??? This guy does.

Congrats on your first deal. I think with 3 jobs and 5 kids it is very easy to find an excuse not to get started, but you can either find an excuse or find a way. It seems you have found a way. Keep it up!

 Thanks for sharing. I think anywhere is cheaper than Nashville!!! Or at least it feels that way. 

Let me know how that duplex does in Ingleside

Where is the duplex that you purchased?

Any reason you specifically chose the Muncie area?

 You sparked me to lookup  a few details about my 401k -It's not performing all that well this year :-(

So here is what I've found and this is for a 401k with my company that has a match contribution. This might be a completely different situation to your IRA but I thought it would be interesting to share anyway.

I can take out a "general loan" or a "primary residence loan". The general loan has to be paid within 5 years and the primary residence loan has to be paid back in 10 years. Both carry a 3.25% interest rate which I'm assuming since I pay the interest against my retirement account that I get that interest. There is of course a $75 "processing fee" and $25/year "servicing fee". 

The other option is a hardship withdrawal which can be used for different reasons including down payments on primary residences. It has no interest rate but does have all the tax implications of early withdrawal. 

The biggest difference between the loan and the hardship withdrawals is the amounts that they allow you to withdraw. With loans it's about 25% of the total balance and hardship withdrawals are about 50% of the total balance. 

Again, I just thought this was interesting and I should share it.

I'm actually looking into doing the same thing. I have a 401k with my company and I want to use it to invest in RE instead of stocks/fixed income. They have a bunch of restrictions on withdrawals and what not.

I honestly don't know the tax implications so I'm also curious as to how that would work.

The only thing I will say is that people are disappointed with their IRAs when they retire. (I don't speak from experience, only from what I have heard from others so this may or may not be true.)

I've never had experience with this type of thing, but if I was in that situation I would be careful as there definitely could be a law that protects against this sort of thing. I would verify it's a service animal. I imagine they are very well trained dogs and shouldn't cause as much damage as a "regular" pet.

I'm really glad I came across this thread. Very insightful on the difference between the online classes and the actual class rooms. I'm entertaining the idea of getting my license but dreaded having to go to class. I think the online option would be a great option for a lot of people. 

Welcome to BP. Sounds like you have quite a bit of experience under your belt. It's a bit of a tougher market for people starting out (Myself). I've ventured out to the surrounding cities (Mboro, Smyrna, etc) and found they are quite nice areas. 

I'm looking to pick up another unit this year in one of the surrounding cities unless I can find a solid deal in the metro area. (Not the easiest of tasks!)