Quote:
Originally Posted by BK911
I am 35 minutes away, one exit up the highway.
Sweat equity aint happening.
I am already building my retirement cabin across the street and don't have the time or back to build two at the same time.
Need something income producing quick so I can build on the other lots.
Yes everything will be rental grade-ish.
But this is a lake front community with $M+ homes.
Don't want to skimp too much.
These lots are across the street from the lake but do have lake access and lake view.
No direct comps, nothing developed on non-lake side yet.
With the awesome views and boat ramp really close a decent cabin should pull in some cash during the summer.
Also thousands of acres of ATV parks within minutes so year round rentals are possible.
Any issues with borrowing against my 401k?
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One of life's crappy decisions ya just gotta make .... I reckon
. Sounds awesome... if you borrow against your 401k, you also reduce it's earnings & growth by such. Used to be, if you terminated with a 401k loan, the full amount might also be due or show as income... way back.... I think it was. With interest rates where they are ... get a HELOC, etc. and pay that sucker off asap.... leave yer 401k alone ... jmho. Have fun .... awesome!