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    mperera's Avatar
    mperera Posts: 1, Reputation: 1
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    #1

    Aug 18, 2010, 08:19 PM
    Is it wise to borrow from my 401k to renovate an investment property?
    I want to renovation a old home, but cannot get a loan, is it wise for me to borrow from my 401K plan to renovate and rent my property?
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
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    #2

    Aug 18, 2010, 10:37 PM
    Hi, mperera!

    Is there no way that you can renovate the property gradually, over a long period, please? If you borrow from your 401K wouldn't you risk not being able to make as much interest then, on your 401K?

    Thanks!
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