Updated 6 days ago on . Most recent reply
Financial advice on saving money to invest in RE
Looking for a financial advisor to talk to. I need advice on making an investment plan. I have 95k in retirement funds. I have 65k in stocks, 25k in cash. Currently put 18K annually into employer retirement, 10.5k annually into savings. I want to invest into RE. Does it make sense to back off on employer retirement contributions and save more cash? I can't use a self-directed IRA, as I am still employed with company that holds that bucket of money. There would be tax implications as my retirement lowers my taxable income. Any advice or recommendations on whom I could talk to.
Thanks
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#2 Personal Finance Contributor
- Investor
This is incredibly hard to ask without knowing your income & overall savings level to sufficiently carry you through a physical asset investment. You're going to need that as your safety valve.
With that said, you don't have to share your income. I would just say if you have $90k to invest, you just don't have enough. You really should not be buying low hanging fruit properties but actually concentrating on quality properties that are distressed. That's more capital, time intensive but the control of the investment and the inherent barrier of entry is what keeps it so valuable.
This is exactly the advice that's not heard on here because you have too many agents that similar to a pimp than to a reasonable advocate(devil or not). My position without knowing more would be to invest in a different asset class-- when that sizes up, then diversify into RE.