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Updated almost 10 years ago on . Most recent reply

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208
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47
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Leo B.
  • Investor
  • Hercules, CA
47
Votes |
208
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Solo 401K and Hard Money

Leo B.
  • Investor
  • Hercules, CA
Posted

Has anyone used a Solo 401K to fund down payment on a home and hard money to finance the rest of the purchase and rehab of a fix/flip property?  I understand that you can only use non-recourse loan with the Solo 401K.  If the hard money lender bases their financing solely on the asset, then this would be considered non-recourse, right?

Most Popular Reply

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Dmitriy Fomichenko
#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
6,234
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17,844
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Dmitriy Fomichenko
#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
Replied

@Leo B.

while I have not done this personally, some of my clients have. Yes you are correct that the loan to 401k must be non-recourse. You are also correct that many hard money lenders will do non-recourse loans. 

  • Dmitriy Fomichenko
  • (949) 228-9393
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