All Forum Posts by: Greg B.

The Millionaire Fastlane by MJ Demarco.

http://www.amazon.com/Millionaire-Fastlane-Crack-Wealth-Lifetime/dp/0984358102

They usually had a local pro come in and share his professional experience with us. Title companies, foundation repairmen, foreclosure listing services, hard money lenders, etc.

On Saturday's we would have a newbie breakfast. Chance to meet new people.

A couple of times we took tours of local properties to identify what makes a deal and what does not.

During the worst times of the banking crisis one of the local pros shared how he was still making deals and money. Many different methods to make deals. I still have the notes from that meeting.

I was a member of Johnson County Area Real Estate Investing Organization (JCAREIO). It was a small club but very friendly and helpful. The club no longer meets. Numbers dwindled due to economy.

A lack of transparency and a lack of immediate control of my money have always been my sticking points with 401k's. Apparently the disclosure laws are changing.

http://www.cnbc.com/id/47980742/Why_Hidden_Fund_Fees_May_Ignite_July_Fireworks

Welcome to BP Chris Comer

I agree with @JScott. PM's in Texas have to be a Realtor. You need to contact their broker or governing board.

good luck

@Jscott, no problem. I do appreciate the various slants and points of view we have here. It is a testament to the amount of talent we have represented on this forum. Thanks for yours and everyone else's input.

Congrats Shane Woods. We need to have lunch one day.

Welcome to BP Ralph Escalante.

There are too many variables to give you a definitive answer.

Concerning the lot:
Size of lot compared to the surrounding lots.
Street access of the lots.
Lot restrictions by zoning and HOA.
Property taxes
Allowable uses of the lot.
Exit strategy for the lot.

Concerning the SFH:
Price you will pay vs comparable value of the house
Marketability of the house
Use of the house
Exit strategy for the SFH

Steven Hamilton II thank you for the advice and it may have been a way to go back then. We all make the best choices we could have made given the info we had on hand at the time.

On the other hand, certainly there are other creative methods a new real estate investor creating a new business can use to offset the cash out hit. Investing and business paper loses, start up costs, etc could be used to count against the income so that the tax rate would be lower and the 10% penalty would not be as painful.

Possibly more than one way to skin a cat?