The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

Again, to reiterate, the risk is less burdened because the property also serves as your primary residence.

If they want their money back fast like a flip then let them flip it and you buy it as a primary residence with a conventional or fha mortgage.

Rehabbing the center row house and getting people to reside there helps all.

They are saying that they are 'beseiged' with calls from LA County residents wanting to relocate out of state....to AZ (mostly).

Investment Info:Single-family residence fix & flip investment.

I currently own a 1 bed 1 bath single-family house as my primary residence.

Gaining a risk-free property, with a long-term resident there to pay down your fees, etc, with a property management company in place to hold your hand along the way and making sure your property is kept up with. 

Hi Penny i'm actually an investor that resides in Odessa as well and my realtor actually just sold a duplex recently and in that area they have several occupied duplexes and some for sale.

Investment Info:Single-family residence fix & flip investment in Tenafly.