Borrow against 401K vs Hard Money ​

[Adam Craig]

My current hard money situation is pretty good due to the relationship we have created. I only pay 1 point plus 12% interest only payments. Then I refinance and pay him off, usually 3-5 months,

I am thinking of rolling my SEP into a self directed IRA to barrow 50K at 4-5% based on what I have read. To me this seems like a no brainier. Is there anything I am missing or am I saving 6-7%, I am still not sure about double tax I have been reading about from borrowing against 401K

[Dmitriy Fomichenko]

It is not possible to borrow from an IRA.

If you have a 401k and it has a loan provision - then you can take a personal loan for up to $50K or 50% of a balance, whichever is less. This is a 5 year loan and must be paid using amortized schedule so the payment will be high.