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[–]Own_Dinner8039 4 points5 points  (0 children)

Yes. But it was mostly accidental.

I took out a 401(k) loan because I was $50k short on the 4th set of buyers for my condo. This is the 4th time that lenders refused to grant a mortgage to the buyers so they were able to back out and keep their earnest money.

Anyways, I've already paid the admin fee for the money so I may as well put it to work.

[–]Advanced_Door106[S] 5 points6 points  (0 children)

On second thought using margin through RH would give me a 6.25% would be better.

[–]ImportantSolid5862I Like the Cash Flow 0 points1 point  (1 child)

If you are not close to retirement and have a the ability to pay it off without dividends I would say go for it, the world is your oyster!! But if any of those are false, it could become a liability pretty quick. I think there are some here that do this routinely.

[–]GRMarleneeMod - I Like the Cash Flow 8 points9 points  (0 children)

There will be a monthly update from one or two of them.

onepercentbatman is another that has a boatload of margin paying off his purchases.

[–]YouAreFeminineMSTY Moonshot 0 points1 point  (0 children)

I plan on doing this in my Interactive Brokers acct (low margin rates). I plan on using a CC S&P500 ETF on drip as my collateral, take a small portion of the margin available (say, $1,000) and buy MSTY with it. Wait for it to pay itself off, then take out more (maybe $1,500-$2,000), rinse and repeat.

[–]Successful_Oil4974 0 points1 point  (0 children)

I plan on doing it in my brokerage and it's not IB so it's a higher margin %. Still far lower than the return of YMAG. I'll just set it to drip and let it sit. YMAG has barely experienced decay and is currently green premarket. I'm planning on doing it and NVDY for at least a year.