Funding Real estate with 401k? - Posted by Randy

import · April 25, 2008, 9:36am

Posted by James Harris on April 25, 2008 at 10:50:29:

Possible. You could open a self directed IRA for the same purpose. You can, I think, use your 401k to help you qualify for mortgages.

import · April 25, 2008, 9:36am

Posted by Randy on April 25, 2008 at 09:36:29:

I heard on the radio the other day that a person can use his/her 401k investment to fund Investment property. Can any one tell me if this is true or not, because I was told in the past that you should not use your 401k to invest. Please can any shed some light in this.

Thanks

import · April 30, 2008, 1:13pm

Re: Funding Real estate with 401k? - Posted by Ron

Posted by Ron on April 30, 2008 at 13:13:41:

Yes it possible. You need to find a trustee or custodian for your self directed IRA. The trustee will maintain your account similar to whomever maintains it now (principal, merrill lynch, etc.) for a fee. I recently looked into this with this trustee:
Sterling Trust Company. Look them up on the web, they have a tremendous amount of information on their site. Hopefully you can find a trustee near you.

Hope this helps.