Updated about 7 years ago on . Most recent reply
small no-recourse loans?
Hi,
Lately I have been buying real estate out of my solo401K and I would like to buy more using a no-recourse loan (which is the only kind the IRS will allow in this kind of account.) My problem? The banks offering no-recourse loans will only issue loans of 50K or more with the borrower paying a 40% down-payment. I buy property in the 30-35K range. Mind you, I'm talking about 3bdrm 2ba houses with a two-car garages on 1/4 lots which I then rent for $800-$850. These houses are in the same neighborhood where I live. Does anyone know how to get no-recourse loans for properties in this price range?
Susan