Hey Guys,
Love the podcast! I opened my Solo401k with you all about a year ago. I purchased and read the Self-Directed Handbook on real estate and watched the Short term rental webinar with J Massey, but I’m still a bit confused in this scenario. I would like to invest in a Short-Term Rental with a friend/investment partner of mine using my Solo401k. My friend will own the short-term rental in his personal name as he does not have a self-directed account. The purchase price will be around $300k – if we are 50/50 partners and I put down $150k from my Solo401k, can he get a traditional loan (not non-recourse) for the remaining $150k?
I also understand that I could not self-deal and work on property, nor manage the short-term rental. However, since my friend will own this in his personal name, would he be able to manage the property and work on the property?
Thanks in advance!
Joe F