What are you charged for financial planning or investment advice?
14
Mar
Many financial services providers tout their financial advice as being for free. But we all know nobody does anything for free. Aparently there are a bewlidering number of ways in which investment advisors make their money such as trading commissions, hourly frees, trailer fees, management fees, performance fees and so on.
I would like to hold an online survey to gauge which methods most Y!Answers users come across and their views on each method or which method their prefer most.
Thanks for taking the time to answer my question.
What’s the best investing advice for a Soldier going to Iraq or Afghan for a year?
13
Mar
I’m going to Iraq or Afghan in July and I’d like some investing advice for while I’m out there. Or where I could go to go get some investment advice? gonna be out there a year, but it could also be something that I can do to build on once I return as well. Because I really don’t know anything about the market, except maybe buy low, sell high… which even that means little to me at the moment.
Penalties to withdraw from Roth IRA for house downpayment?
13
Mar
We want to take advantage of the low rates and good realestate prices but we’re a bit short on a 20% downpayment. I’ve read that you can withdraw Roth IRA up to $10,000 for a first time buyer to put down towards the purchase of a home. However, it says that the IRA had to be open for 5 years. If it has been open for less, what are the penalties? Is it better to take a loan out on the 401k instead?
NVmelinNY… Thanks but what is the difference 401k vs Roth? They’re both retirement accounts. Also, I found this: http://www.fool.com/money/allaboutiras/allaboutiras12.htm Which says that it needs to be open for 5 years even if it’s for a house.
Rebecca, Thanks but I’m only 27 and would like to have 20% downpayment.
mar c, exactly! I’m planning on buying a 2 family which will be rented out eventually.
Anyone else? Really trying to get clarificaiton on the 5 year rule on the Roth. Any experts??
Has anyone heard of using your credit card to take out the money to invest on real estate?
13
Mar
Has anyone tried this method for getting your money to invest in property. Someone from Real Estate Investing Institute suggested this to me but I had never heard of doing it this way. Would the interest rate be lower than if you go to a bank? He said you could just do a transfer balance until you get your profit. Seems oversimplified and risky to me. What do you think?
Can I buy investment real estate with no down payment?
13
Mar
My husband and I really want to own real estate. We may not be able to afford anything in our area and are thinking to invest in a four plex in an area where it makes sense.
Since we don’t own any real estate and don’t have much collateral, is it possible to buy investment real estate with 100% financing? We both have excelent credit.
How can I calculate if an investement property would even make sence to buy? What I mean by that is a property that would yield a possitive cash flow.
Thanks so much for your input.
Looking for a 100% Investment Property loan in Pgh PA?
13
Mar
I am looking for a 100% loan for a 3 unit townhome in pittsburgh. We just used our cash reserve for another building and this one came up. We dont have any money for another downpayment. Does anyone have any ideas or suggestions? I have other props that have some equity in them, but not enough to take out because they are rentals also. The building is only around 60k and my credit is so so 630ish. I hope to stay away from hard money, but am willing to pay a higher rate, I could refi in a yr and bring that down, I would like to keep points as low as possible. But this would have tobe a $0 down deal. I know I can try to get the seller to carry a second. Just trying to make it a little simpler…
I agree… That was a very poor answear… 85 to 90% resisidential LTV is usually the max and anyone knows this is still classified a residetial… Im sorry that is my biggest grip with this site the amount of people who try to give advice but end up with wrong info… I already know I am in a tough perdicament… otherwise I wouldnt be asking for any suggestions… Im sorry that sounds harsh… Im just trying to get some ideas outside the box or if anyone has seen any programs that would allow me to use my other property as security with a second.
Is interest on a loan for an investment property, rental, tax deductible.?
13
Mar
I have heard that you can’t deduct the interest unless you are considered, “in the business” also, what are the current depreciation rates on investment property? 15 year, 30 year or what?