All Forum Posts by: John Dombrowski

Calling @Joshua Dorkin and @Brandon Turner

Anything in the works......yet?

@Cliff Harrison,

I am not a home owner here in San Diego.

@Diane G.,

Thanks for the input but I don't buy that strategy. I figure I will make mistakes along the way. It's all part of learning the business and I would rather make them now rather then 5 years from now when I am 5 years closer to death....:-)

And yes some people do get burned but some people make alot of money too buying out of state especially when the live in Cali and cant buy a thing.

@Monti Harris,

Thanks for the shout out on this thread. I must say you really bought my excitement level way down talking about your experience with your solo401K. I was all ready to take the plunge but now you got me rethinking the whole deal.

And as far as buying property in NWI, I am originally from that area so I thought if I got some property out that way for a while, I could write off a bunch of expenses every time I came out there to visit friends and family... :-)

And I am definitely thinking about CO too since we will move out that way in the next 4-5 years but getting started in NWI seems like a cheaper way to get it all started.

So now I just have to figure out what to do with my 401K.

Yeah they read fine on my mac.

another 5 months gone by since my last post on this. @Joshua Dorkin @Brandon Turner

Come on Guys anything new on this? It shouldn't be so difficult :-)

@Christine Kankowski Thanks Christine, when would be a good time to call you and discuss this a little further?

@Adrien S. Thanks Adrien, when would be a good time to call you?

Hi All,

So I have been around BP for a year now soaking up all I can. I am 56 I finally lost my IT job of 19 years so I really want to try and get started with this RE gig. I have about $200K in my 401K that I need some help to roll it over into a solo401K or something so I can use to invest but from what I am finding out is that I can't do that unless I can show some self employment income. I also have about $40K of severance pay coming in too but I will probably need that to live on for a while.

If I can get access to my 401K funds I would maybe be interested in buying something out of state in the NW Indiana area because that is where i grew up but came to San Diego in 1989.

I will still probably get another regular job for a while but I don't think I can make anywhere near what I was making when I got laid off. But we also plan to retire somewhere in Colorado in about 5 more years so maybe something out there too would be of interest.

Anyway, if any of you out there on BP can help me get started with my RE investing I would love to hear from you.

Thanks and lets get this party started.... :-)

--JD

Hello everyone,

So I lost my job of 19 years so I think now is the time to get things going in a RE business. I want to start out with flipping homes. Not really interested in buy and holds......yet. So I want to roll over my 401K that I have with the company I used to work for into a solo 401K so I can use MY money to invest in RE. But in looking in to it, I am hitting some roadblocks in which I am being told that I can't do that if I want to flip homes.

Has anyone here in SoCal invested in RE with a Solo 401K? Can someone steer me in the right direction on how I can roll over my money and use a Solo 401K?

Thanks.....JD