All Forum Posts by: Andrew Sanders

Hey guys, I am selling a single family rental I have in the seattlw area, and I am looking at about $60k (after tax and what not). I am wanting to use this as a down payment on another one or two (or more) single family rentals that will cashflow. I know the Seattle area is hard to do and I've heard good things about the Memphis TN area too. What are your guys thoughts on places that will be the best for this? Thinking about TX, KY, TN, NC. Any others? Let me know all thoughts.

That's an excellent idea, ill have to concidering that

Well that sucks... there has to be a 'loop-hole' or way around this...

Tom, Can you expand on using 401k money for this? I have money in my Boeing 401k that would REALLY help this process. Did you take the money and put it in an SD IRA and then put it down?

I know I can borrow it and put some of if into an SD IRA and use it to hard-money lend; However, I'm not sure if I can loan it to MYSELF after that...

I have a 401(k) plan with enough money to make down payment on a house. Has anyone ever taken that their 401(k) money and put it in a self-directed IRA and then bought a rental property with it? How does this typically work? I have my 401(k) with Boeing specifically if that helps.

Yea we are going to buy both houses (that's the goal for this year is 2 if we can pull it off) and we were going to buy one in each of our names.

I'm just curious as to how we can get the loan from an investor or how people usually do this? Lets just say that the down payment was huge, how do investors handle this?

I will start shopping for multi-plexes though.

I'm fresh out of college (engineer at Boeing) and my gf and I are wanting to buy another rental. (I bought one years ago with money from a deceased relative) and I'm wondering if there are any creative ways to get a down payment? We need around 25k down for each property and while we can save up that money it would take a good 18 months to get and we want to get investing right away. So we're treating this as a challenge, getting the down payment else where (this is along the lines of Rich dad poor dads theory of not using your own money). Does anyone have any ideas of how to do this or have experience with this?