All Forum Posts by: Jesse J.

Thank you for all the information. It seems to be possible. BTW, how do you transfer money from another country to US? China has rules that one person has $50k limit per year...

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Originally posted by @Jennifer L.:

@Jesse J. Not 100% sure about Arizona. However many foreign nationals are able to obtain an adjustable, "owner occupied" mortgage for 4 units or less from East West Bank with 40% down. Also helpful because pretty much all bank staff speak Mandarin, Cantonese, and Hokkien.

Thank you Jennifer

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Hi Bigger Pockets,

Can you recommend a good foreign national mortgage provider in AZ? My friend from China is thinking to buy one rental property here with some large down payment.

Many thanks!

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Thank you all for these awesome advices! I will ask my plan admin to see if I can do in-service distributions. It will be very helpful to buy investment houses with these money.

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Originally posted by @Dmitriy Fomichenko:

@Jesse J.

yes, you can do that. Keep in mind that the loan has to be non-recourse, conventional financing in a retirement account is not allowed.

I purchased a property in Goodyear 3 years ago in my retirement account, I paid $110K then, it looks that prices has gone up quite a bit since then. I used NASB and had to come up with 40% down.

Here is a list of non-recourse lenders, this might be helpful:

https://www.biggerpockets.com/blogs/2810/50272-lis...

Thanks for the comprehensive information! It is really helpful.

BTW, my 401k is with my employer right now. They do not seem to offer roll over to solo 401k.

Is there any good strategy to transfer the assets to solo 401k other than quitting? :)

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Hi BiggerPockets,

Quick question here. Any of you done this before - buying houses with Solo 401k and renting it out.

I am located in Phoenix - Chandler/Gilbert area. Good SFR are 200K - 300k. It is hard to buy these in cash.

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All Forum Posts by: Jesse J.

Jesse J. has started 2 posts and replied 7 times.

Post: MLS only Broker in California

Post: Foreign National Mortgage

Post: Foreign National Mortgage

Post: Foreign National Mortgage

Post: Getting Mortgage through Solo 401k

Post: Getting Mortgage through Solo 401k

Post: Getting Mortgage through Solo 401k