All Forum Posts by: Tom Jimenez

Tom Jimenez this is how I purchased my first investment property. The lending terms will depend on your 401k provider but for my loan it was a five yr loan with a 2.25% interest rate. If I do leave my employer before the five yrs I will need to payoff the loan balance..

Thanks for info Ramon. this does help alot.

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Originally posted by @John Hyatt:

Hi Tom,

I just finished the BiggerPockets Podcast #17 and I would really recommend it! They talk about 401Ks and what to do. I think in a company 401k it might be a lot harder, but Jeff Brown is the expert:

http://www.biggerpockets.com/renewsblog/2013/05/09/bp-podcast-017-mentors-retirement-jeff-brown/

-John

Great, and thanks for the quick response John.

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Originally posted by @Brad Park:

Hi Tom! My wife and I are also new to real estate investing and we were wondering the same thing. My initial feeling is that I would definitely prefer not to use that money and try to purchase our first multi via seller financing, or from a private lender. I would be curious to see what some of the more experienced BP's have to say about this.

We are too Brad, and thanks for the quick response, nice to feel not alone on this.

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Hello to all! My wife and I just began educating ourselves a couple weeks ago about real estate investing and have a great many things to learn, but to get started we have considered using my 401k through my employer to invest with when the time is right. Is this a option, and what are the steps to be taken if it is? Thanks.

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All Forum Posts by: Tom Jimenez

Tom Jimenez has started 8 posts and replied 24 times.

Post: Using 401k to invest?

Post: Using 401k to invest?

Post: Using 401k to invest?

Post: Using 401k to invest?