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Updated almost 6 years ago on . Most recent reply

Jason Bilbrey's profile image
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Jason Bilbrey
  • Investor
  • from Stevens Point, WI
  • Member since Apr 22, 2018
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Jason Bilbrey's profile image
Jason Bilbrey's profile image
Jason Bilbrey
  • Investor
  • from Stevens Point, WI
  • Member since Apr 22, 2018
  • Posts 87
  • Votes 25
  • Experience 7 Yrs
  • Investments 10
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Jason Bilbrey
  • Investor
  • Stevens Point, WI
25
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87
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Creative Real Estate Financing

Loan from Solo 401k AND Traditional 401k?

Jason Bilbrey
  • Investor
  • Stevens Point, WI
Posted

If I have a Solo 401k funded at $200k and a traditional (company ran) 401k funded at 200k also, can I take $50k loan from each to have $100k for a downpayment on a rental property?

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George Blower's profile image
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George Blower
  • Retirement Accounts Attorney
  • from Southfield, Michigan
  • Member since Mar 23, 2017
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George Blower's profile image
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George Blower
  • Retirement Accounts Attorney
  • from Southfield, Michigan
  • Member since Mar 23, 2017
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George Blower
  • Retirement Accounts Attorney
  • Southfield, MI
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George Blower
  • Retirement Accounts Attorney
  • Southfield, MI
Replied

@Jason Bilbrey

Yes you can do so assuming that you have not had any outstanding loan under each plan for the prior 12 months (because of the multiple loan rules).

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