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Updated almost 11 years ago on . Most recent reply
Newbie from Buffalo Grove, IL
Hi BP -- Happy to have found such a great site with experienced professionals! My fiancée and I are life insurance agents ready to get into real estate in the Chicagoland area. We have been searching for our first fix-n-flip in the southwest suburbs...taken a loan on our 401k and also considered different types of funding. Looking forward to connecting with others on this site and at upcoming meetings/clubs!
Most Popular Reply
Hey @Jessica Clute welcome to BP! We love the Chicago area and invest all around it.
The best advice I can give you is don't take a loan against your 401k unless you absolutely have to! You can invest in real estate by converting your 401k to a self directed IRA. I have written a pretty extensive blog on this so please check it out. There are lots of people here like @Loren Whitney who can help you with that process.
Hope that helps. Best of luck!