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Updated almost 11 years ago on . Most recent reply

User Stats

26
Posts
2
Votes
Jithesh Prabhakar
  • Rehabber
  • Cheverly, MD
2
Votes |
26
Posts

Trouble finding a bank to re-finance a property partly owned by Solo 401K

Jithesh Prabhakar
  • Rehabber
  • Cheverly, MD
Posted

I bought a house and fixed it up with the intention of selling it, however when I look at the rental market in that area.. I feel I like have to keep this as a buy and hold.

Currently the property is owned by LLC 80% and Solo 401(k) 20%

Some banks wanted this property to be on a separate LLC and some did not like the fact that it was part owned by Solo 401(k).

Please can any one suggest any options I might have ? I think there should be a way to buy out Solo 401(k) and transfer the property to LLC.

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