Your 401(k) plan may, at your direction, invest in real estate if the investment provisions of the plan permit it. If the employer contributions to your plan have been made, and the plan permits self-directed investments, there will be rules to the amount you may invest from that portion you are vested in. You may also have an Individual (k), which limit participants to owners only, plus spouses and partners, you may decide on the investments to be completely self-directed by you.