Anyone using a solo 401k for purchasing properties

[Rona Faison]

Hello, I have a solo 401k that I have not done much with but thought about using it to purchase buy and hold rental properties. I'm interested primarily in multi unit properties duplex to fourplex and would be looking to carry mortgages on any properties purchased. Any experience with this out there? Success stories? Horror stories? All welcome I'm just trying to get a better understanding of this beyond what I've read in books. Or if you know of any good CPA's in or around Dallas Texas knowledgeable about this topic would be great info as well. Thanks!

[Mindy Jensen]

@Rona Faison , an alternative to purchasing the properties could be lending with your Solo 401(k) to others. This is what I do with my Solo 401(k). 

The way I do it, is I know a guy who is brilliant with real estate. He brings me deals, I read over what he's proposing, but really, I'm lending to the person more so than the deal. He's about as no-risk as you can get. You want to be super careful if you go this route, as this is still coming from your retirement account. Don't do second position loans, and don't lend to people who give you a bad feeling. 

I am NOT looking for borrowers. Please do not send me a note asking if I have any money. I only lend to people I know and this is not a solicitation.