All Forum Posts by: Narinder Gill

@Michele Wax I do have a another SDIRA and I was told that that's something I can not do with IRA but can borrow against the 401k to 50%. Unless I do some sort of QRP set up with that SDIRA.

Do you any additional information on it?

Is it good idea to use funds from 401K to buy a cash flowing SFR? I have about 105k in 401k. Minimum payment will come out of my biweekly paycheck to pay off the borrowed money.

What are the pros/cons of doing this? I I understand that I will lose out on any potential on borrowed money if I were to leave enact.

I’ve heard about paying interest back to myself when I’m paying the loan back, little confused on this concept.

Thank you for the help

@Kerry Baird ok thank you

@Cory K Bente how do I get hold of you. Send me contact information.

@Kyle J. This is a good point, I didn't even consider cash out refi. Do you know if loan amounts are higher with this option or HELOC?

Thanks for the help

@Sandeep Singh how do I find out if bank has a private funding portfolio? Wouldn’t the rate be bit expensive?

@Kerry Baird did you better luck with big banks or small local ones? I will call around to see who offers what. Couple of people suggested PenFed.

Thank you

@Jaysen Medhurst PenFed was suggested by someone as well. I will give them a call for sure.

Thank you

Can someone recommend a bank? I have a property free and clear and would like to open up a line of credit on it to buy couple more rental property using HELOC. I'm in CALIFORNIA

Can someone recommend a bank? I have a property free and clear and would like to open up a line of credit on it to buy couple more rental property using HELOC.

Thank you