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All Forum Posts by: Jaysson Brooks

Jaysson Brooks has started 1 posts and replied 2 times.

Creative Real Estate Financing

Post: CARES ACT: Penalty Free $100K Loan from 401K?

Jaysson BrooksPosted
  • Posts 2
  • Votes 0

Hey everyone, the new CARES Act allows for us to make a loan up to $100K from our 401K penalty free that doesn't have to be paid back for 3 years as long as you can show hardship 2/2 to the coronavirus. Does anyway know if this loan is interest free as long as it is paid back in 3 years? I was thinking of using it to buy a multifamily property. 

0 Votes
Tax, SDIRAs & Cost Segregation

Post: Tax Summary of Coronavirus Relief (CARES ACT)

Jaysson BrooksPosted
  • Posts 2
  • Votes 0

I have a 401(a) and 403b retirement accounts through my empoloyer. Based on the CARES act, could I take a $100,000 loan from each of them or would the total I withdrew from each type of account have to total $100k? 

0 Votes