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Updated over 5 years ago on . Most recent reply

Tom McCaffrey's profile image
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Tom McCaffrey
  • Member since Sep 24, 2019
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Tom McCaffrey's profile image
Tom McCaffrey's profile image
Tom McCaffrey
  • Member since Sep 24, 2019
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Tom McCaffrey
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Starting Out

funds for a downpayment

Tom McCaffrey
Posted

I am anxious to get into rental properties. I will have to wait another 5 years to deduct from my IRA without penalty. Since a hard money loan would require a high % of interest I was thinking of taking funds early from the IRA to get in the game now! Any thoughts? Thanks

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David Barnett's profile image
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David Barnett
  • Rental Property Investor
  • from Cambridge, MA
  • Member since Sep 25, 2016
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David Barnett's profile image
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David Barnett
  • Rental Property Investor
  • from Cambridge, MA
  • Member since Sep 25, 2016
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David Barnett
  • Rental Property Investor
  • Cambridge, MA
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David Barnett
  • Rental Property Investor
  • Cambridge, MA
Replied

I would focus on saving money for your first payment.  Anxiousness and real estate investing are usually a really bad combination.

  • David Barnett
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