Hi Chelsea,Can you provide any additional details?

Hi, I was wondering if anyone has been involved in originating or receiving loans from a 401k to purchase a property.

My question for you is, is it a wise decision to take a mortgage loan on those two condos so that I can purchase a new investment property (in addition to single family house which is an obligation) using DP approach?  

Have to figure in VAR power etc.In addition, you might see a 345, or higher voltage line and the cost to connect could be prohibitive.

If you prepay 15% you’ll probably get a 5% return.What we didn’t talk about was ability to acquire new debt, cash out refinance costs, cash flow implications, tax benefits, liquidity or risk management which is another post.My intention on my property is to prepay about 4% to move the cash out refinance for another property up by a year and let additional investment money ride elsewhere.

If the property turns out well I will recommend the GC I'm using (assuming he wants additional work, he seems pretty swamped).

The takeaway here is to become familiar with determining loan quality for yourself when working w/ a broker.In addition to the capital gains issue Jeff mentioned, there is cash drag.

You will be taxed on the sales price vs the tax basis in your duplex, not the actual cash received at closing.

Leveraging that asset to finance another deal is smart play, and the townhouse you're eyeing seems like it could be a great addition to your portfolio.When it comes to budgeting for renovations, it's definitely a challenge to nail down accurate estimates, especially when resources might feel a bit outdated or not region-specific.

@Tracy Scott it's highly dependent on the deal, the type of property and the location.In addition to the items others have mentioned, here are some of the biggest potential start-up expenses that I study closely before buying a property:Foundation/structure--this is one of my few "deal breakers", I typically will not purchase a property with significant foundation or structural issues.