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Updated over 6 years ago on . Most recent reply

Susan Maneck's profile image
Susan Maneck's profile image
Susan Maneck
  • Investor
  • from Jackson, Mississippi
  • Member since Aug 28, 2014
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Susan Maneck's profile image
Susan Maneck's profile image
Susan Maneck
  • Investor
  • from Jackson, Mississippi
  • Member since Aug 28, 2014
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Susan Maneck
  • Investor
  • Jackson, MS
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Starting Out

small no-recourse loans?

Susan Maneck
  • Investor
  • Jackson, MS
Posted

Hi, 

Lately I have been buying real estate out of my solo401K and I would like to buy more using a no-recourse loan (which is the only kind the IRS will allow in this kind of account.) My problem? The banks offering no-recourse loans will only issue loans of 50K or more with the  borrower paying a 40% down-payment. I buy property in the 30-35K range. Mind you, I'm talking about 3bdrm 2ba houses with a two-car garages on 1/4 lots which I then rent for $800-$850. These houses are in the same neighborhood where I live.  Does anyone know how to get no-recourse loans for properties in this price range? 

Susan 

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