Buying 1st rental property

[Komi Agbodzie]

Hello all! I am  Thinking of buying my first rental property (single family home). It's going to be turnkey.  I am trying to decide between using my solo 401k  vs owning the property myself. Obviously both have their own positives and negatives. What are your experiences and what do you think is the better strategy for the long term?

thanks

[Will Fraser]

Hi @Komi Agbodzie!  Welcome to BP and the RE investing world!  The only downside to using the SOLO 401K that comes to my mind is that you will have to be extremely careful not to intermix the 401K money/benefit with your personal funds and benefit.  So, if this is a turnkey investment out of your area, managed by a PM then that should be simple.  Just know going in that those funds (the cashflow, etc) are not yours. . . . they are property of You401(k), so unless You401(k) distributes the funds to you, they have to be totally separate and not intermixed.

Best of luck on the investing journey!