All Forum Posts by: Jason Monge

Hi BP family! I have an old 401K with 25K in it. I'd like to use it towards a down payment on a property. Can anyone lmk if this is a viable option? If this isn't, I would then have to sell some of my stocks investments. Any info is appreciated.

Thanks

BPJ

Hi everyone, I was wondering if you guys and gals could please give me any feedback regarding this topic? A realtor and a mortgage company have told me that all of my closing costs can be covered at my closing. Basically they use a strategy where the sale price is agreed to by myself and the seller. Then during the appraisal process, they get the appraiser to say that the home is worth more than the agreed upon amount. This allows me to then receive the extra funds from the bank and use it to pay for my closing costs. Is this a legit process? Has anyone else done this? Does this sound like a good idea? Please lmk, this will be my first home purchase and I'm trying to be as strategic as possible. 

Thanks

BPJ

 Curious, can I use some of my old 401k money as a downpayment for a home?

 Nice! After I find a house hack in NY I'm looking to do some long distance investing in a market that isn't as expensive as NYC. Would you recommend your area?

 Thank you! I think I'll be using Sundays as my day to do my homework. What market are you in?

 Hey I'm just wondering how to get an investment property in the city without using a lot of money down or selling my stocks. Any advice?

Hi everyone! I'm a noob looking to get my feet wet. I have a job that I like, but I really want to be able to become financially independent like most of you. Who wants to hold my hand and show me the ropes?