All Forum Posts by: Susanne Rieth

Thanks for the advice guys.  Thinking about selling when we are able and rolling the money into better investments.

Hi. We are looking to refinance our condo that we use as a rental property. We currently pay 1288 for our mortgage and it has a horrible interest rate 6.25%. We get 1600 for rent, and after our hoa fees - 550 we end up at 1838 a month or 238$ a month out of pocket. our refinance options are a 15 year fixed where our payments would be 1300 (total payments 1850$). So lightly more out of pocket but we pay off the loan in 15 years. If we do a 30 year fixed would be about 800 (plus 550 HOA total of 1350). Our thoughts are that we would put the extra $250 a month from that scenario back into the mortgage to try and pay it off in 18/19 years. I know this isn't a cash flowing property, but we are in NYC and there has already been an 80,000k appreciation on it...we are sort of hoping that long term the appreciation would make this worthwhile. Anyone have any thoughts on this? The mortgage guy thinks we are crazy if we don't do the 15. I think, since that will cost us a bunch out of pocket that it makes less sense for us. Not sure though...new to all of this!!

Thank you all for the information...a lot to consider and research here.

You can't write any of that off if you are using a SDIRA?  

Thank you for the info!

Hello.  I have an old 401k from a job I no longer work.  I found this in an old thread:

I have $500k from previous employer 401(k), I'm 52. I'd like to buy real estate, create cash flow via rental, pay myself, and benefit the 401(k).

Just wondering if this can be done? It seems like the self directed IRA will not allow you to pay yourself, and the ROBS may not be suitable for Passive income pursuits like buy and hold? Any advice about this greatly appreciated. its about 55k I have in the account.

@John Yousef

What happens when you hit the 10 year term and the rates go up?  Just curious what the plan would be for dealing with payments from then on.

Thank you all :)

I've been listening to the podcasts.  Very informative!  Really enjoying them so far.

Hello! My name is Susanne, I am a newbie investor from New York City. I am looking to find good out of town markets that are beginner friendly (low entry price point, decent cash flow). Thinking about Central New York and Michigan as I have family in those places so that could be helpful for finding decent neighborhoods/pockets. I currently own one condo in Queens NY that I rent out but its actually at a bit of a loss and I am considering dumping it and using any cash from the sale to put into other deals. My HOA is being sued at the moment so a sale is impossible until that is finished.

I would appreciate any advice from all you investors out there :)