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All Forum Posts by: LEONID ORLOV

LEONID ORLOV has started 8 posts and replied 42 times.

I am not worried about loaning to a friend, we both know its a business. LTV and income from the property is so favorable that one would be crazy to default on such l loan .. and the lender (my solo401k)would be happy to repossess the property.

What I am concerned with is to do it properly to make IRS happy :-)
Any word of wisdom or referrals in CA would be appreciated

I am contemplating to make a loan from my solo 401k to a friend.
The loan will be secured by the property.

I would be interested in a word of wisdom on how it is properly done to avoid trouble with IRS and/or loosing tax exempt status of the funds.

What paperwork is sufficient? do I need to put solo 401k on deed of the property?
Any advice or personal experience would be appreciated