All Forum Posts by: Alejandro Lee

@Matt K. yes, i will be financing it. 

Hi BP community,

So i found a property off market and the owner would like to sell without having agents involved (due to commission, etc) What are some of the things I should look at? I usually work with agents and have a feel of what the house is worth. Any tips?  

@Anthony Wick Rent will cover PITI and 401k once both units are rented. After that, i will have leftover as well that will be put on as emergency. I agree, i will factor that in as well.

@Chris Ellis Yes, my lender actually allows me to use 401k but just like you said, it has to be liquidated and it will be. The fee is minimal with no penalties. 

@Michael Garofalo Yes, i don't plan to leave anytime soon and I'm planning on staying for a while. The unfortunate side it is the tax implications like you said but I feel like it is a small loan compared to the payback of the property. 

Hello everybody!

Just purchased my first investment property which leaves me low in cash. My agent sent me another duplex property that has potential but i am currently low on liquid cash. I was planning of getting a 401k loan ($15k) for a downpayment. Is it a good idea? What do you guys think for this situation? Thank you in advance! 

My name is Alejandro Lee (but I go by Alex) and I'm an engineer from Diamond Bar, CA who is new in the BP community. I've been lurking for the past month until i finally decided to join this awesome community that not only has expanded my knowledge in the REI world but also helped me make my first step by purchasing my first property.

I plan get more knowledge from the community, network with individuals and hopefully create relationships with agents, investors, etc. I am currently looking for out of state investment so if you have any information or questions, I would be more than happy to listen to what you know and share what i know. 

wishing success for everybody! 

-Alex Lee