All Forum Posts by: Antonio Williams

I would like to withdrawal some money (~10k) from my 401k to help my mother purchase a property; is anyone familiar with this process? If you withdrawal money from your 401k are there penalties and/or taxes to pay? I would appreciate any help!

Thank you all for your input and advice, it is much appreciated!

I thought BP was a great place to reach out to get input/advice from all of you awesome people. Quick background about me: I have been in Real Estate for about three years (mostly as an agent, have done some wholesaling as well) and was immediately intrigued with the investment side of RE. After learning and educating myself, I feel ready to seek my first investment property and luckily I think I've found the perfect partner (we fill in each others strengths/weaknesses). I have a pretty good idea how to find the deals (not saying it's easy but know where to look) and a really good idea of the ARV, our only problem is financing. I would prefer to use private money but am curious how to find PM lenders as well as how to structure the deal. My credit score is great (~790) but due to recently reducing my hours at my part time job my income is not good enough to get a bank to loan me; my partner has a real solid income and a pretty good credit score (700+).

Is this something that is feasible and how would you recommend seeking/setting up the private money deal? Any other suggestions/advice would be greatly appreciated!

-Just a kid from Akron

I thought BP was a great place to reach out to get input/advice from all of you awesome people. Quick background about me: I have been in Real Estate for about three years (mostly as an agent, have done some wholesaling as well) and was immediately intrigued with the investment side of RE. After learning and educating myself, I feel ready to seek my first investment property and luckily I think I've found the perfect partner (we fill in each others strengths/weaknesses). I have a pretty good idea how to find the deals (not saying it's easy but know where to look) and a really good idea of the ARV, our only problem is financing. I would prefer to use private money but am curious how to find PM lenders as well as how to structure the deal. My credit score is great (~790) but due to recently reducing my hours at my part time job my income is not good enough to get a bank to loan me; my partner has a real solid income and a pretty good credit score (700+).

Is this something that is feasible and how would you recommend seeking/setting up the private money deal? Any other suggestions/advice would be greatly appreciated!

-Just a kid from Akron

A lot of great information in this thread! I'm curious if you were able to find/finance a deal since this post? @Account Closed  If so, I'd love to hear about it.

I stumbled across this form and am curious to how things are going for you today? What important things have you learned from your experience wholesaling?

I really appreciate all of the helpful words. When I set up my business, being that I am an agent, I would make this transparent with my customers (not trying to be a dishonest agent) and try to help them out in a way that best fits their needs. 

I will seek advice from a local real estate attorney regarding the legality in the state of Ohio.  

Thanks for any and all advice. it's great to see people helping people, which is why I love this BiggerPockets community.

I am starting a wholesaling business in the Northeast Ohio area; I want to go about this in the most structured way possible (I know you can only prepare so much) so I am looking for any advice from those with experience wholesaling (on how you set up your business, how you market, things you would have done differently etc.). I have been doing a ton of research (articles, podcast, biggerpockets etc.) and I understand this is not an easy, get rich quick scheme. I AM willing to put in the time and the effort necessary to get it going.  

I am also a licensed agent so I am looking to add this to my real estate business (not sure if that changes anything)

Any advice etc. would be greatly appreciated. Than