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All Forum Posts by: Michael Trinsey

Michael Trinsey has started 5 posts and replied 22 times.

Tax, SDIRAs & Cost Segregation

Post: Using my pension as an investment in real estate

Michael TrinseyPosted
  • Investor
  • Clermont, FL
  • Posts 22
  • Votes 17

I have a pension worth 60,000 and would like to cash out. Does anyone know what and if I have to pay taxes on the money if I use it to invest in real estate? I'm 62 and I was able to cash out at 55 without penalty. Thank you in advance!

0 Votes
New Member Introductions

Post: New member from Montgomery County PA

Michael TrinseyPosted
  • Investor
  • Clermont, FL
  • Posts 22
  • Votes 17

I'm Michael Trinsey from Red Hill, Montgomery County, PA. When I signed up I thought that I would say that I'm newbie to real estate but I've actually purchased 3 SFR. (Haha my first acronym!)

I’ve lived most of my life in and outside of Philadelphia PA.
I have been an Art Director for Medical Trade magazines for over 30 years.
My goals are to have a house in Maine and Florida and a positive cash flow of 12,000 by age 70. I’m 62 now. It’s a late start in real estate BUT better late than never.
I found out about real estate investing through Rich Dad, Poor Dad and then my son sent me an article on the Business Insider website about Dana Bull (Podcast 187) and how she started and that lead me to her podcast, and Bigger Pockets!

1 Vote