Creative Financing for Self-Directed IRA

[Shane Edwards]

Hello,

I have heard of several ways to use my personal 401(k) for creative financing. I'm thinking of transferring my previous employer 401(k)(quit my W2 job last month) to a Self Directed IRA to use these funds to Fix and Flip or BRRRR a property, most likely SFH. I have roughly $115k in this account. Is this something I can accomplish? I'm weighing my options of just cashing out this account and just paying the taxes on it, but if possible I'd like to lend it to a project and take advantage of the tax free money. What could be some road blocks or hurdles? Could doing something like this be a waste of my time?

Would I consult an attorney or financial advisor to weigh my options?

Thanks in advance for your input!!