Hello,Just curious what you all thought about the idea of using a loan from your 401(k) to finance the purchase and rehab of a 1st property.My plan would be to use 40-50k to purchase a small rental apartment, fix it up, and then refinance the property to pay back the 401(k) loan.Any downsides to this?  

I am a new part time real estate investor having just finished my 1st buy, rehab, and rent of a small single family home in Tacoma, WA.  

I'd like to flip a few small property's before buying some rentals.

I am a small business person in the Inland Empire ( recycling/transportation/business consulting) , that is looking to learn and invest in the Inland Empire.  

I have mostly invested in Tarrant county (Arlington, HEB, FW) but looking to add a small multi unit in Bishop Arts.

if you're looking at small 1-4 units and you're going to be buying under 10, you may want to consider just getting a good umbrella policy specifically for landlords so you can stick with residential financing.

Take care of your tenants by offering extra perks that others don't offer...like washer/dryer, Wi-Fi, small grid-tie solar system.

@Chris Frydenlund go ahead and send me a PM, I have created small apps for scrapping and automating on Craigs so I should be able to help you out.

If I was you, I would seek out a small local bank & try to obtain a commercial loan for each property you want to buy  .If you can't do that then I would seek out private money from somebody that you know or know of.I would also strongly suggest trying to get the owner to finance if you can.There are lots of ways to get money, but hard money lenders should probably be your last choice.  

A few small cracks and they may require a complete replacement ($2400 approx.) for a standard 2 car.