Can I use a regular 401k to purchase real estate?
Hello Everyone,
I recently joined the site and saw a lot of great discussion regarding cashing out a 401k plan versus a self directed IRA and a solo 401k plan to purchase properties. I prefer the solo 401k because of the ability to take a loan against it and the higher contribution limits. Unfortunately, I don't qualify because my wife and I own another business that has full time employees. Does anyone know if regular 401k plans can be used to purchase real estate? I would not mind setting it up for the entire company. The companies that I called for the solo 401k plans only handle solo 401k plans and not regular. When I tried companies that handle regular 401k plans, they said that they don't invest in real estate.
Worse case, I'll open a self directed IRA.
Thanks,
Tilmon