All Forum Posts by: Thomas Krajewski

I have about $7500 in my 401k right now.  That amount isn't going to change since I'm now on a pension at my current job.  

I have heard that you can buy and hold real estate with your 401k but my understanding was that I all the profits would go back into my 401k.  While that would be great long term I think it would be beneficial in the short term.  Although I'll defer to the professionals here.

And I plan on withdrawaling this from my 401k.  I spoke to my 401k provider about this and they said I could do it as a first time homebuyer without paying a penalty (although I would end up paying taxes on that amount).

Hi!  I'm new to the real estate investment game.  I'm looking at getting a first time homebuyer loan for a property where I will live in one side and rent out the other.  I found a bank where I can get a loan as low as 3% down and I plan on using my 401k as a downpayment to cover that (my retirement company allows that with no penalties).

I'm in the process of starting a second job and I don't have a lot of money in the bank.  I'm wondering if anyone has suggestions on how I could possibly handle the costs of any closing costs or repair costs.

I was thinking that I could offer more money if the seller agreed to pay all closing costs and if repairs were needed maybe I could do two offers, one where I pay them more and they do the repairs and one where I pay less contingent on me getting a property improvement loan.

Hello, my name is Tom (28) and I'm the future baron of Williamsport, PA.  I currently work for a local planning department reviewing subdivisions and land developments to make sure they meet ordinance requirements.

My goal is to one day get into being a developer who purchases urban parcels and redevelops them using best management practices.  I would like to use buy and hold real estate investing as my means of getting there.  I currently do not own (nor have I ever owned) any real estate.  I live at home with my parents but I'm getting close to my first purchase.  My plan is to purchase a duplex (maybe 3-4 unit building) and live in one side and rent out the other.  Once I am in a comfortable position with that property, I intend on purchasing more properties.  Then I would like to start more intensive rehabilitation projects and maybe eventually start investing in solar panels on these buildings as another profit source (and as a marketing strategy).

Currently I'm in the learning stage.  I started to check out some real estate books and I picked up Brandon's "Book on Rental Property Investing..."  That directed be to Bigger Pockets.  I would like to utilize the tools on this website to help me in my path to developing my future real estate empire.