Real Estate Investing Through Purposeful Planning
We’re living in some fairly interesting times. How’s that for understatement?
How vulnerable is your retirement plan to failure?
That’s it — sit back and review your plan. Also your plan’s current status. The older you are, the more important the answer to this question is.
Please, don’t blow this question off. Be brutally honest.
Then contact me with any questions that may arise. Have a good one.
Related posts:
About BawldGuyI'm second generation real estate, first licensed in fall of 1969. Having been mentored by several iconic brokers, I'm also CCIM trained, having completed all 200 hours back in 1980. Have successfully executed well over 200 tax deferred exchanges, many of which have been multi-state in nature. Strong points are analysis and the creation and real world application of Purposeful Plans employing several strategies synergistically. The idea is to arrive at retirement with the most after tax income possible, backed by the largest net worth.
Please, don’t blow this question off. Be brutally honest.
Perhaps people who know the score don’t feel comfortable with how they get ultimately treated on the internetz when they are brutally honest. Its a new generation. My parents never talked about money. My generation is circumspect but mostly honest. There’s a new generation that lays it out but sometimes lies spectacularly.
I’ve said before that I was all out (real estate) April 2006 and I paid some nasty taxes. I could have rolled to SC and/or Austin/ and/or Dayton but chose the cashout with penalties. I could have done better redeploying but that may change in the next year as my remaining money dribbles along in laddered CDs waiting for a new entry point.
I know this isn’t the answer you wanted but at least I acknowledge that redeployment to growth areas has been the best strategy over the past few years. There’s a lifestage issue as well. I need big chunks for college and leverage against those investments would be risky.
Hey Robert — Boy, do I ever know what ya mean about the internet.
You did it (gut check) in ’06 and made a reasoned decision based upon your appraisal of what you perceived the market(s) to be. You then walked your talk, executing your plan. Sure, you could’ve opted, as you mentioned, for headin’ over to the growth regions. You chose to sell in ’06. Selling then was clearly superior than selling later. Duh. Those hurt the most were the ones who didn’t act swiftly as you did, but waited, while prices continued their downward slide.
Some, not me, will say it wasn’t a wise move. It was one of the moves available to you, given the lifestyle circumstances you mentioned. I identify with the whole college thing, as I’m still finishing up with the last one. (She just told me she’s now going for master’s degree. yea!
)
Though I would’ve made different decisions, yours still leaves you in position not only to supply college needs, but to take advantage of the slashed prices of RE wherever you choose. Just hope yer kids aren’t going to an Ivy League school.
Robert, every decision is individual. Seems to me you made great ones for your circumstances! I do sometimes talk in generalities and make blanket statements on blogs, but in individual discussions talk about particular circumstances. Recently told someone not to cash out refinance their investment properties for a large EIUL, because it made no sense for his particular circumstance.