Other Ways To Get Money
For Your Real Estate Business
Use this page to learn other ways that real estate investors get money to fund things in their real estate business
In no particular order.....
Quest Trust can help you gather all of your previous 401k's and IRAs from previous employers to use for your real estate investing business.
Employer 401k Loans
Check with your employer HR department to see if you qualify for a loan against your current 401k plan and the applicable repayment terms. Rates are generally under 5% and loan repayment is via payroll deduction. You can potentially access these funds for things like education, purchasing a second home, medical emergencies or other financial hardship. Since this is a loan versus a funds distribution or early withdrawal, there should be no tax penalties or other income tax considerations.
Home Equity Line of Credit
If you have equity in your home - check with your bank on doing a Home Equity Line of Credit. You can also do a cash out re-fi.
If you're not familiar with a HELOC this is a loan you're approved for and you only pay on it if you have pulled money out and is based on the equity in your home.
Cash out refi means that you refinance your home and take the equity out - this usually means that your monthly payment will go up - but it means that your term will definitely increase.
Get more details at your favorite bank.