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Chris Magistrado's profile image
Chris Magistrado's profile image
Chris Magistrado
  • Investor
  • Member since May 16, 2022

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Chris Magistrado's profile image
Chris Magistrado's profile image
Chris Magistrado
  • Investor
  • Member since May 16, 2022
Chris Magistrado
  • Investor
42
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78
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Classifieds

Looking for flippers to invest in

Chris Magistrado
  • Investor
Posted

Looking to lend against my 401k for some flips, but I want to work with a team that has flipped before in or around the Bay Area. Sacramento is okay too. If this sounds like you or a team you know, please let me know!

Offering
San Jose, California
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Brett Synicky's profile image
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Brett Synicky
  • Solo 401k and SDIRA Consultant
  • from Orange, CA
  • Member since Jul 3, 2013

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Brett Synicky's profile image
Brett Synicky's profile image
Brett Synicky
  • Solo 401k and SDIRA Consultant
  • from Orange, CA
  • Member since Jul 3, 2013
Brett Synicky
  • Solo 401k and SDIRA Consultant
  • Orange, CA
489
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868
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Brett Synicky
  • Solo 401k and SDIRA Consultant
  • Orange, CA
Replied
Quote from @Chris Magistrado:
Quote from @Brett Synicky:
Quote from @Chris Magistrado:

Looking to lend against my 401k for some flips, but I want to work with a team that has flipped before in or around the Bay Area. Sacramento is okay too. If this sounds like you or a team you know, please let me know!

What do you mean, “lend against your 401k”? Like you’ll take a loan from it and loan the money out then pay the 401k back from the principal and interest payments? 

 Or something else?

Exactly. Loan against a portion of my 401k. My income is high. Across the rest of the US, it's very high. But am looking to reduce risk by working with an existing team that does flips. I have others interested in investing as well, but we want a team who knows what they're doing.


 Interesting. Are you confident the spread is going to be high enough to be worth it? I mean the loan will be prime plus 1 or 2%. So that's 8.5 or 9.5%. Yeah you're paying the retirement account back but that's not your money until distribution so I'm asking about the personal funds, does it make sense? I'm genuinely curious about this.

  • Brett Synicky
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