Real Estate, Property & Homes
Can I just take it out to buy a home cash?
OOOOMMGGGG. Thank you!!! I was trying to ask you this on another video you did, but did not asked you correctly!!! You referred me to your book. And you answer it here!!!🥳🥳🥳. Thank you!!! I will be calling my 401k folks soon!! Thanks!!!!!
This is great info but would this help your credit too?
Hi Clayton, something I haven't seen or heard you address with this 401k loan strategy… have you thought about the tax implications of using a 401k loan in the following manner? The money paid back (both P&I) to pay off the loan is used with after tax dollars, and then it's taxed again upon withdrawal. So the way I see it if you recycle those funds by taking 401k loans year after year the 401k account balance becomes essentially "funded" with entirely after tax dollars only to be taxed again upon retirement withdrawal. For example, a 30% tax bracket hit, then another 30% hit making an effective tax rate of basically 50% on every dollar in the account. (1 x 0.7 x 0.7 = 0.49). Is your thought that this "tax loss" if offset by the "tax win" associated with REI? Im finding it hard to justify a 50% effective tax rate for quick liquidity. Thanks in advance.
Buying the house is easy. What about repairs?
SWEET…”Rinse & Repeat”!
Where can u purchase homes for 40k?? Are these forclosures? I can't purchase a closet in NY for that amount.
So, I found a great house and want to use $20k from my 401k for a down payment , in a very strong market (south Florida) for MY house , not an investment, is this good or foolish?
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