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All Forum Posts by: Shannon Allex

Shannon Allex has started 1 posts and replied 5 times.

Post: DFW Meetup! Weds June 29th 7:00pm

Shannon AllexPosted
  • Investor
  • Mansfield , TX
  • Posts 5
  • Votes 0

Hi Sherry, My wife and I are new to the area and look fwd to meeting you on Wednesday.

I use a key board on my iPad which orients my screen horizontal. It would be nice if the app rotated as well.

Post: Down payment for multifamily

Shannon AllexPosted
  • Investor
  • Mansfield , TX
  • Posts 5
  • Votes 0
I don't know if you would be interested, but my wife and I just picked up a Fourplex for 0 down through the VA. If your not a Veteran there is FHA that you can can now use a 3% down. The catch is you have to live in the building for a year.

Post: Need some advice

Shannon AllexPosted
  • Investor
  • Mansfield , TX
  • Posts 5
  • Votes 0

Thank you Brian and Elizabeth, this is going to be a little more difficult then I first thought. I have never been one to stop at the first road block,so I'll figure something out.  I appreciate the time both of you spent on answering my question.  I hope you had a wonderful Thanksgiving, and Merry Christmas to you Both. 

Post: Need some advice

Shannon AllexPosted
  • Investor
  • Mansfield , TX
  • Posts 5
  • Votes 0

My wife and I own a four plex and are in a deal now to have another one built for us. When that building is completed this spring, we will move into it. I then plan on cashing out my 401k and using my Retirement to purchase a couple of larger buildings, 6+ apartments each. My issue is, if I put the funds in a self directed IRA then all the profits have to return to the IRA, as far as I can tell. This is not a good option because we will need the profits to live on. I could also just pull the cash and leave what I have to for the feds, It will be a substantial amount, but I would have total control of what ever is left over. My question is, does anyone have any ideas that would help me retain a larger portion of my money, so that I can invest it in something worth while. Thanks