Short term goal

[Justice Cannie]

My current situation is homeowner and I manage one rental. I want to buy another house. Most likely I will rent the house I'm currently in. The price of the house I'm looking at is about 200k. I've saved several thousands to put toward the purchase. However that's not enough.

I'm thinking about pulling some money out of my 401k. Something like 25k. Just using enough for this transaction, then using the rest to set my set up for the purchase of a smaller rental.

Does this sound crazy? I'm having a hard to with bank financing with out having a large down payment? 

[Justice Cannie]

@Dmitriy Fomichenko & Mark Nolan I am currently employed and in good standing, So I plan on taking out a 5 year loan. 

@Elizabeth Clovegrove my very next purchase is going to be where I live. The bank is asking for 10% down. That's going to be about 20K. After this transaction I want to get into smaller projects, ideally with a team. Hopefully capital won't be so much of an issue at that point.

@ Carlos O I would love to get into MF props.

Thanks everyone