Non-Recourse Loan for Commercial in NY State

[Ron West]

I have a 6-unit multifamily property under contract and all the numbers are looking good. I want to fund the deal with a self directed SOLO 401k set up for my real estate business. Unfortunately, the IRS restricts SOLO 401ks to non-recourse loans for borrowing.

I have been having trouble finding a non-recourse commerical loan for multifamily in New York state. Another thing that is barring me from loans is that the purchase price is around $200k, some lenders only do $500k and up.

I have 1 lender that might be able to lend on this deal but I want to make sure I have a back up in case it falls through.

Can anyone provide a advice, referral, or recommendation for find this type of loan? I am also open to referrals to loan brokers, as long as they can find me something. Thank BP community!