All Forum Posts by: Rodney Menendez

I just want to write this post to say THANK YOU BIGGER POCKETS!! I joined BP in April 2020 after I listened to the audio book “The Book on Rental Property Investment” by Brandon Turner. Since then I have read about a dozen other books listen to over 100 Bigger Pockets podcasts and read many posts in the forums. Thanks to BP I realized that it was time to sell one of my properties because the income to equity ratio did not make sense. So far this year I have completed my first 1031 exchange and turned a townhouse into my first duplex. I bought my first property cash, and I am in the middle of a cash out refinancing. I opened a Solo 401k Trust Account and was able to tap into my previous employer 401k to use it for Real Estate investments. I added value to my duplex by converting one of the units from a 2/2 to a 3/2. I haven’t seen the results yet but I started driving for dollars and marketing to off market sellers. I am far from being a real estate expert, but I feel like I have achieved a great education in a short period of time and for that, I am very grateful!

Hello Carlos, I would love to connect and participate in any Miami master mind group. 

@Juan Deshon

Thanks for the info. If I already took a $100k loan from my Solo 401k (in July 2020), can I also take a $100k distribution before the end of 2020?

@Kincaid Ryken

Congratulations on your early start! My recommendation would be to get your real estate license. Some investors will say it is not needed but it has helped me a lot. You will have access to the mls but also to Imapp (great free software to search public records, and create mailing lists such as deliquent property taxes, expired listings, absentee owners, ect). Read all books from Brandon Turner

@Scott Scheel I am interested in off the market small multifamily properties and townhouses anywhere in South Florida (low crime area)

@Kent Lyons Thank you, great Info!

@Kent Lyons

Hi Kent, any reason why FL was removed from your updated results?

@Gary Parilis

Hello Gary I recently opened a Solo 401k account with my retirement money and I am also looking for ways to invest this money in real estate. For now I was able to take advantage of the CARES act and loan my self $100k. I would love see if anyone else have any other ways of legally investing retirement money today.

@Michael McKay

Great job and thank you for sharing. I have used some online marketing in the past for my real estate agent side business. Some other marketing tools that I found were www.adwerx.com (old promo code FB2017 may still work), Google AdWord (you only pay for clicks), and I used www.agentmarketing.com they have a lot of website templates and landing pages. Good luck!

@Dmitriy Fomichenko Thanks for the advise, I am only planning use the property management llc as a back up and give my self a small salary with a 1099 to meet the minimum solo 401k requirements