Dennis Walker asked 2 months ago
Hi Mark and Matt,
I’ve had a self directed IRA for several years now but have a new situation that I’ve never had before and don’t know what to do. I typically invest in ‘notes’ and recently had a performing note become a non performing note and now have basically ended up with the property. The property is trashed and needs work before I can sell it on the open market. I believe all the work needs to be done by contractors and all the funds from the solo 401K.
I do have a checkbook for this account but it’s becoming difficult to work with places like home depot and contractors when I say that I need to pay by check. Can I get some type of credit card just for the solo 401k or some type of account to make it smoother? I know some people do fix and flip in there 401k how do they typically pay for supplies etc, especially when they live out of state? Thanks so much, Dennis