I purchased and renovated a property via my self-directed 401k. The plan was to get a nonrecourse loan to cash out refi and rinse and repeat. I’ve run into a little difficulty because of the mortgage fraud that has hit Baltimore and Philly. Lenders are backing out of funding both cities right now. What other options do I have to get cash out of the property and back into my 401K to rinse and repeat?
Welcome! Start Here 👋 Let’s break the ice. In the comments, copy and paste this and fill it in: 1. My name is ________ 2. My favorite food is ________ 3. Here’s a picture of my workspace (or a quick description if you’d rather)
Hello Everyone. My name is Kia. Favorite food is most seafood (I’m from MD 🤗). My workspace is a mess😉. My organized mess though🤨. I’m an educator and investor (LTR, STR, PML).
@Jon Chan I’m not sure yet. I have property management that handles LTR and STR so I don’t have to worry about a lot of things. I’m enjoying connecting with people and learning about different ways to participate in deals. Being a PML is not for the faint of heart. There are so many things that can impact the success or lack of success in a deal.