Self Directed 401k/IRA
Hey folks!
I just switched careers 6 months ago and I am now a Realtor. I need to decide what to do with my previous 401k which has roughly $15k in the bank. I have done some research and it seems that the self directed solo 401k is a great option as I would like to use the $ to invest in real estate and this would give me that freedom. However, from what I read, it seems that if you do invest in real estate with funds from a solo 401k you can't use bank financing...is this true? With only 15k to play with I am certainly going to need to pull in $ from other avenues (HELOC, a partner, bank, etc) so I want to know if this is possible.