All Forum Posts by: Anthony Simboli

@Chris Seveney yes I should have clarified. It is a corporate job 401k that I've had for about 8 years now. I'm not too familiar with the self directed Roth IRA but I will do some research on it. I was planning on using cash for now but was curious how I could leverage a 401k. Might be worth looking into the Roth IRA though for future. Thanks!

@Michael McFadden awesome, thanks for the input. Will keep that in mind moving forward

In the process of trying to better understand my loan options as I prepare for my next investment. I have two properties I'm wrapping up with right now in MA but I have since moved on to NH and would like to revisit lenders and find some good information on my loan options so I can better analyze properties. Any suggestions from the BP family? Happy to provide more information on what I'm looking for if that helps.

Thanks

@George Blower thank you so much. Very detailed information and also appreciate the links you provided. I have quite a bit to learn on this topic so I appreciate it. Thanks again!

@Daniel McNulty thanks for the clarification. Yes I'm still currently employed at a corporate job and have been contributing that way. I'm likely just going to keep that money in there for now but wanted to better understand some of my options. Thanks!

@John Bowens thanks for all of this information. I have to be honest, I'm not really sure what a lot of that means but that's the information I'm looking for so now I can go and so some of my own research. This seems like a great starting point. I'm considering my 401k money as a potential option if it makes sense but I have other strategies I can use. Just want to figure out what could be best. Thanks!

Would anyone have more information on how to use a 401k for investing? I've read in the past you could use it for downpayment with less tax implications. Is that true? In general, has anyone had experience using their 401k to invest. Any pros and cons? Tips and tricks?

Thanks!

I'm looking for some information on pro's & con's of using a 401k to invest. Anyone have information on how you can use that money to invest and what the taxes would be on it. Any strategies or tips to mitigate or reduce the taxes? Any information would be appreciated. Thanks!

Congrats @Robert Carter. You're 100% right, you learn so much more once you're finally into the weeds on an investment as opposed to just doing analysis. All parts of a deal are important but you learn so much by having that first property. Best of luck go forward!

Personal opinion. I would find ways to save more money right now. That does not mean you can't "invest" starting today. You can work with other investors and tag along on their journey. Learn from them, understand why they are doing certain things. ASK QUESTIONS! And while you're doing this, save more. That could be finding a job on the side you may like. Buying and selling things at yard sales and selling on craigslist or eBay. Tons of way to save just a little more. Once you feel you have learned more, start to become more than just someone who tags along on a deal. Invest with them. Start to grow your money with rockstars (read the BRRRR book :P)