All Forum Posts by: James Zachary

Man, I am so happy I joined BP. You all are amazing! Thank you so much for all your suggestions and comments. Just to recap, it sounds like most of you advise against using a 401K (Solo or Self Directed) to purchase real estate because you lose some of the tax benefits that are already built into Real Estate. Very valid points, however, if an older 401K (from a previous employer) is enough to get you started now in REI, would you do it? Or would you try to find other ways to build funds, even if it meant sitting out for 6 or so months?

@Mike H.
You bring up a very interesting point and it is something I have been bouncing around in my head. From what I have read on the web, most people advise against taking money out of your 401K. I must admit, I haven’t dove to deep into the reasons why but I will now. Thanks. Oh, one more question… Where do you find houses with $450 net income?!?! :-)

I am just starting out as well @Aaron Lambert. So far the community is amazing. I love seeing all the Bay Area investors on this thread!

@BrianBurke – I love Santa Rosa! @JamesVermillion – Did they call you Jimmy when you were a kid too? @PatrickMartinez – Neighbor! Lucas is... interesting. @Everybody – Thanks for the warm welcomes!

Does anybody have any advice on rolling over a 401K into long term real estate investments from a previous employer? I heard that it can be done but I’m having a tough time finding information about it on the interwebs. Thanks!

I'm looking forward to it Marc.

Thanks everybody!

Hello BiggerPockets! I am just following the “what to do first at Bigger Pockets” step 3 and introducing myself. My name is James Zachary, I live in California (Bay Area), and I am looking to take the first steps into the exciting world of real estate investing by adding at least 2 single family rental properties to my portfolio this year. I hope to learning a lot from this site and it's members. Cheers!