All Forum Posts by: Michael Swope

@David Hutson Thanks for the info. If you don't mind spending a few minutes over the phone i would greatly appreciate it! 

I was wondering if i could get everyone's thoughts on not investing into my 401k and Roth IRA anymore. I currently utilize my companies matching of 6% and put 250 a month into my Roth IRA. Been really hands off of my 401k and just took a look at how much i put in monthly It averages to $750 a month. I dont plan to stay with the company for more than 2 years and dont mind taking risks since im relatively young (27). Any thoughts and comments are welcomed! Currently thinking of using my savings (8K), Roth IRA(12K) and pulling a loan against my 401k (45K total, this would be my last option if i needed more money to acquire properties, since i dont plan to say with the company for that much longer) to purchase my first investment property for buy and hold purposes. 

@Douglas Skipworth Thanks for the references! Much appreciated. 

@Johnathan Alesso

Just did some analysis and thought it would be a good place to invest for buying and holding. I also looked into Arizona and Toledo. From what I saw Memphis and Toledo look like better options for me. I don't mind doing the work since im pretty handy and can take the time off of work to work on the property. My ideal purchase would have it occupied already and have the lease end in a year to then go in and update/repair the home. What are some of the reasons you invest in Pennsylvania? 

Planning to hold the property for 5+ years. Looking in the range of in or around 100K 

Since California is sky high to buy I'm looking to buy out of state. Wanted to see if anyone could point me in the right areas to look at, what areas to avoid, discuss a partnership or any information worth sharing.

-Mike 

Since California is sky high to buy I'm looking to buy out of state. Wanted to see if anyone could point me in the right areas to look at, what areas to avoid, discuss a partnership or any information worth sharing.

-Mike 

Thanks for the info @Adam A.

Since California is sky high to buy I'm looking to buy out of state. Wanted to see if anyone could point me in the right areas to look at, what areas to avoid, discuss a partnership or any information worth sharing. 

-Mike