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Purchasing a property with solo 401k (next to my house) please h
I am currently building a house on 5 acres. The five acres next to mine is currently up for sale. I know that there is someone else interested in it but I'd really like to buy it to keep from having a house right next door to mine. The only money I have available right now is in my solo 401k. My question is can I buy the property right next door to me with it. And if I do will I ever be able to use it for personal enjoyment. Is there a way for me to ever own it outright so that I can use it? Please help if you can. I think I can make my self a loan from the solo but how long can I make it for and can I make it with small payments?