All Forum Posts by: Rich Littlefield

very easy just google it, lots of information.

If it were easy, it would not pay so well.

 If they pay the rent, who cares?

I know if the property is in CA you sure can, if it were not disclosed. I do not think you have anything you can do to the title company. It depends on the state where you purchased whether you can go after the seller. In CA it is called a transfer disclosure statement, I have seen this on properties on other states, same kind of form different state.  If the seller or agent did not disclose this, they could be liable in court. 

I am interested

There seems to be a doom and gloom business out there. Douglass Casey, sold millions of books all claiming the sky is falling. Here is the thing, will real estate go down? Yes, it always goes up and down.  So when ever the real estate goes down, the predictors of doom and gloom go out and pronounce to the world they are genius. Really, what happened was just as a broken clock is right twice a day, real estate prices go up down in cycles, so those who always predict it will go up, will be right, and those who always predict it will go down will be right.  One thing we all miss, the value of real estate stays stable. It is the value of the money that is fluctuating, and in general the value of money goes down over time, it is called inflation. It is the nature of how it works.  So if you think real estate is going to   go up,  you will be more right, more often than those always convinced it will crash. By the way, we are due for a down cycle, but because the last cycle did include a crash all we really should see is a small down cycle.   Here is the thing, if you buy real estate that cash flows, you can hang out, and sooner or later it will be going up again. 

Here is the thing, you do not have to liquidate your 401 K to buy income property, instead buy investment property in your 401 K. You will need a trustee. It is fairly simple really. The benefit of doing that is if you take the money out of the 401K and pay taxes on it, you will have about40% less to invest.  There needs to more said more about this, for example there should also be a long term strategy in place to do things like: pay the taxes in case of death etc. 

Well it is easier to buy a property to move into with 0 down, so that is a good place to start.

I think you have a pretty good handle on it. In LA there are not a lot of vacancies if you price your units reasonably, and as rents rise so do values.  Most investors in the LA area have income from other sources and are investing in it for appreciation as well as for tax reasons.