401k withdrawal still at my employer

[Logan Larochelle]

So the situation I am in is I found a duplex that I can cash flow, but it needs some work and I would need to take out my money from my current jobs 401k and take a hit on the penalty of a early withdrawal. I wondering if this is recommended and is it something other investors have done. My 401k is around $47,000 own $6,000 in a loan through the 401k So the question would be leave the 401k alone and lose the house or take the 401k out to get the duplex

[Joni Kane]

My 401k will only allow a "withdrawal" for a 1) hardship or 2) down payment on primary residence.  So I took a "loan" which I have to payback over a period of 5 years - interest, about 5%, goes back into my account and there is an admin fee payment due to Liberty Mutual for the maintenance of the loan.  Better deal than the banks.