All Forum Posts by: Shaun R.

For the three times rent requirement on income, do you use net or gross income?

I know I can take up to 2 loans at a time from my 401k up to a total of $50k.

There is a Southland Property Corporation listed in my state's business directory. The name we had come up to use for our DBA was Southland Property Group. Would we be looking at any potential problems using a business name that is similar to an existing name? Everything I've thought of so far is taken.

I found a pretty good blog post on biggerpockets.

https://www.biggerpockets.com/renewsblog/2015/12/03/structuring-partnership-rental-properties/

I'm considering buying my first rental with a partner who is a like-minded guy that I work with.  If we partner up, what are some things we should consider before we pull the trigger.  Dave Ramsey says the only ship that won't sail is a partnership.  What are your thoughts on partnerships?

Ditto on the match. I think you'd be crazy not to contribute at least what the company matches and pass on that free money. If there is no match and you are determined to invest into a retirement account, I'd go with a Roth IRA.

Wayne Yates I can understand the reservations, but I think the temporary sacrifice would be worth it if you take advantage of it and do something meaningful with the money you save. But if you were to take the money and blow it all, then you'd have sacrificed for nothing.

Got mine ordered.

Scott Trench I went ahead and ordered the hard copy to do my part to get you on the best seller list. I forwarded the confirmation to the email address. Good luck !

I'm married with two small kids and I tried to talk my wife into moving in to a camper just to drastically cut living expenses for a while. I couldn't get her to go for it, but I'd do it in a heartbeat if I could convince her. However, the only reason I'd be willing to live in that scenario is to achieve a specific goal quickly, which for me is to buy my first investment property quicker. I'd love to rent my current house out, move into a camper, and save for the next rental.