HELOC vs 401K loan | which one would YOU choose? #biggerpockets #shorts

BiggerPockets MoneyNov 12, 20230m 53s1.6K viewsScore 75
Regulations & Compliance
intermediate
Tax Strategy
Bookkeeping
Expenses
Profitability
M

Summary

AI-generated

This video discusses the pros and cons of using a HELOC vs. a 401K loan for STR businesses. The presenter advises owners to understand all the fees and restrictions associated with loans for STRs and to seek professional help if necessary.

Key insights

  • A solo 401k loan can have a fixed interest rate for up to 15 years.

Mistakes to avoid

  • Be aware that the fees associated with using a 401k can be extremely low, but it can also be limited in options or services offered.

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial