All Forum Posts by: David Jones

We recently closed on two properties and used money from our 401k the red flag did not raise because the closing was 90 days after the money hit the account, the underwriter didn't ask questions . banks from my experience go by dept to income looking at monthly( gross) to your monthly EXPENSES wether its a car, house ect... They like to see 60% income to 40% dept

Borrowing is not considered earned income verses withdraw, all you pay is the processing fee which is usually 50$ .if you fail to pay it back then it will be earned income

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Just keep in mind that underwriters of banks looks back 90 days of bank account activities and wants to know about large deposits , so keep records of you withdraw of your 401k it makes for more paperwork and time or just pull the money out months in advance while you are shopping around for and banks, homes and agents that fit your needs.I've done it plenty of times and depending on the investment pay it back years earlier

Hello my name is David I'm looking in Kingsport Tennessee has anyone ever invested in that area

Hi Cheryll Remirez , I found a property nc, its a property that we will bid on in mid October and A property in Texas .The property in Texas we've connected with an agent to view the property before the auction .we give incentives for agents for going to the property for video zoom .thank you for your response i will connect so we can discuss further details

Im not trying to be bigger than anybody .i have lenders and money .thank you for your comments . I'll make phone calls instead

Im purchasing of market properties and will need seller agents to list and sell in different states . states posted in the beginning of this discussion

What should my explanation be

Im looking to team up with realestate agents in these states , Florida, NC, Texas,SC and Georgia . We are looking into some properties to flip and would like seller agents who have experience with investors

Thanks