22 January 2020 | 21 replies
We are longer term investors and we invest for cash flow, so a short term change in valuation has very little to do with investment performance.
21 January 2020 | 7 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Alternative: Rollover Funds to A Solo 401k & Take a 401k loan or Invest in Real Estate DirectlyIf you are self-employed (i.e. active self-employment earned income separate from your w-2 income) with no full-time w-2 employees, you can set up a Solo 401k and then rollover your 401k funds once you leave your current job [NOTE: You generally can't rollover funds that you saved to your current employer plan until you quit.].You could then take a loan of up to 50% of the balance not to exceed $50,000.
19 January 2020 | 8 replies
Lender C said I would not be able to close it with a fresh new LLC because that LLC wouldn’t have had any performance to show or tax returns to present during underwriting, and the way that most of her borrowers go is to close with their name first and within an hour of the closing, create the LLC with the help of an attorney and transfer title right away (not sure if this is even possible!).
20 January 2020 | 10 replies
How do I structure a deal with a private lender to acquire her non-performing notes, she has a lot of non-performing notes that she needs to deal with, her main interest is to receive monthly payments.
28 January 2020 | 37 replies
Unless you think they'll pursue you for performance, I'd bail.
18 January 2020 | 5 replies
I have almost $1,500 between appraisals and extensions.
19 January 2020 | 4 replies
will depend on your area, you will need to perform due diligence. deals don't fall out of the sky, but you will need to go find it. tell everyone around you what you want to buy, go knocking on doors, speak to investor friendly realtors.Basically, the more people you speak to and network the better chances of you finding a deal.Make sure you know how to run your numbers to make sure you found a true deal.
17 January 2020 | 8 replies
*You can BRRRR the property in either case by performing a refinance after the repairs are made.
20 January 2020 | 37 replies
And When I took over my current Multi family property I had to make it clear with the current tenants that I would not allow them to perform any work on the property.
1 February 2020 | 4 replies
I want to be able to roll up everything into something that I can hand to my accountant and use for generally keeping tabs on the property's financial performance.