All Forum Posts by: Tarcizio Goncalves

Thank you @Brian Eastman for the reply. For a solo 401k I'm limited to 50% or 50k correct? 

What do you mean by this statement: The plan buys real estate and receives the income the real estate produces.

Can I get access to the cashflow?

Thank you

Hi BP community, 

I have 403b from an old employer that I want to use to invest in RE. There is just under 100k in this account and when looking to withdraw the money, I was told I would incur over 30k on fees and penalties. 

Been reading articles online and one is more confusing than the other. One article says something while others say something else completely different. Was hoping someone in the forums had done this before and was successful in doing so. Is there a difference between the withdrawal guidelines between a 401k vs a 403b? Any guidance would be extremely appreciated. 

Thank you

Hi, I was hoping to network with real estate agents in SC, specifically in the Myrtle Beach and surrounding areas. If you are knowledgeable in Myrtle Beach and surrounding areas, please send me a message. I would like to network and hopefully do some business together. 

Thank you

Hi David, 

I'm new to the Providence area and found my current agent through another investor. I absolutely love this guy. Very honest and knowledgeable. He is also an investor himself. Give him a try and let me know what you think. https://www.sellri.com/agent/steve-gillikin/

Im happy to network with you also and see if we can do something together as well. Talk to Steve and let me know. You will not go wrong with him!

Thank you

Tarcizio

Thank you @Brian Adzadi and @Katie Stewart for your valuable inputs. It is much appreciated. I took your advice and requested that everyone get a credit and background check

Thank you

HI everyone, 

This might sound like a dumb question but I am going to ask it anyways:

I found a potential tenant for my property. Its a mother and three kids. Two are in their early to mid-twenties and the other one just turned 18. Income and employment checks out as I already checked employment with their current employer. I am now asking for a background and credit check. Here is where I am a little confused:

Does everyone over the age of 18 needs a background and credit check or should I only focus on the mother? The 18 year old might not have a credit history yet. If everyone needs a credit and background check ($40 on average per person) what should I tell them if they complain that this is too much money? I would think that everyone needs a credit and background check but I also want to be reasonable and not have them walk away. They seem like good people from what I found so far. 

Thank you everyone as always

Tarcizio

Thank you @Brent Kiger

Thank you so much @Katie Stewart

Thank you so much for the reply @Nicole A. I sneaked in a fifth question. Any feedback on the fifth question? Thank you

Hi BP community, 

I wanted to get some help with 5 questions I had regarding listing my apartment. 
First question:
I am listing my rental apartment for the first time. I bought the landlord forms for my state on BP and I am ready to roll. I saw that the Rhode Island LL forms come with an application. I am a little confused if I have the potential tenant fill out the application first or give me a copy of their credit history and background check first. Could someone please let me know which comes first? 

Second question:
I listed my apartment on both Cozy and Zillow. So far, I have a few candidates coming from the Zillow and not from Cozy. I know Cozy provides a service for background and credit checks. Not sure if Zillow allows the same service and if they do, I am not sure how to enable this. I was hoping I would get people coming from Cozy but that is not the case. 

Third question:
What do you all use to market your vacancies? Cozy hasnt been doing what I was hoping it would do. 

Fourth Question:
Does everyone have a tenant screening policy? I downloaded one from BP and it pretty sums up what I want in a tenant. Should I have that along with the application? 

Firth Question:
I want to make sure the tenant will have enough money to pay the rent. what percentage do you use to determine if the applicant will be able to make the rent payment? their debt cannot exceed what percentage of their income? 

Thank you all

Tarcizio