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Updated almost 10 years ago on . Most recent reply
Solo 401K and Hard Money
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?
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Dmitriy Fomichenko
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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.
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