All Forum Posts by: Candice Menard

Thank you David-I took  your advice to map out payments with a mortgage calculator! I appreciate your input!

Thank you so much for you explanation. Greatly appreciated!! 

Situation-I am using a non-recourse loan along with my solo 401(k) funds to purchase a rental home.

Borrowing-130,000.00

Loan term options

1. Fixed rate20 year loan 6.5%

1. Variable rate 25 year loan

10/1

5.9%

1. Variable rate 25 year loan

5/1

5.5%

1. Variable rate 25 year loan

3/1

4.9%

I am planning to pay an additional $500.00 to $1000.00 towards principal each month.

Question-Would you mind giving me an opinion on which of the 4 options would serve me best and why?

Situation-I am using a non-recourse loan along with my solo 401(k) funds to purchase a rental home.

Borrowing-130,000.00

Loan term options

1. Fixed rate20 year loan 6.5%

1. Variable rate 25 year loan

10/1

5.9%

1. Variable rate 25 year loan

5/1

5.5%

1. Variable rate 25 year loan

3/1

4.9%

I am planning to pay an additional $500.00 to $1000.00 towards principal each month.

Question-Would you mind giving me an opinion on which of the 4 options would serve me best and why?

Situation-I am using a non-recourse loan along with my solo 401(k) funds to purchase a rental home

Borrowing-130,000.00

Loan term options

1. Fixed rate20 year loan 6.5%

1. Variable rate 25 year loan

10/1

5.9%

1. Variable rate 25 year loan

5/1

5.5%

1. Variable rate 25 year loan

3/1

4.9%

I am planning to pay an additional $500.00 to $1000.00 towards principal each month.

Question-Would you mind giving me an opinion on which of the 4 options would serve me best and why?

I am in the process (first time) of using my Solo 401K. to purchase a rental property. From my understanding- that is very similar to the self directed IRA. The solo can be used if you own your own business and you don't have any other employees-it has to be set up in a trust name. I'm using that plus also going to have a non resource loan for 1/2 of the purchase price. have signed a contract and am set to close on April 7, 2022!

@Marian Smith Thank you for the input--I am outside  of the city limits. That is a 4 bedroom 3 bath home. In the house rules-no one but tenants can come to the house for the safety and security of all tenants-I put that when I was there so I could always feel safe in my home but carried it over to current situation! 

I am in Louisiana for reference. I had been renting 2 rooms on my house for several years-no problems with any neighbor at any.

I have since moved out (about a week ago) to buy another home!!!


I currently have 2 renters there and was advertising for a 3rd renter.

One tenant has been there almost 2 years and the other is a traveling nurse that will stay 13 weeks.

Tenant 1 is on a month to month lease. 

Tenant 2 signed lease for 13 weeks. 

One of my neighbor across the street posted on Nextdoor that he intend to see what can be done; he is taking about hiring a attorney to enforce the subdivision restrictions-we do not have a homeowners association in the subdivisions.

Here is what he stated-

“A rooming or boarding house is a commercial operation being run in a residential area”.

Is going through Air B and B a viable option?  What are the pros and con's?

Any Insight or suggestions is welcome!