How do I get to use this 60K?

[Victor Olowu]

I'm going to stop working in next few months, and spend the next 2 years doing my masters. I have about 60K in my current employers 401K that I will have an option to roll into an IRA once I stop working there. Since I won't be working for the two years, I will not be making any contributions to this money in that time, however, I still want it to grow aggressively, so I am looking for options that will allow me to invest this money in real estate. All I will be doing is school for those two years, so I will have the time to self-manage the property if necessary.

I am all about the multifamily and hoping to be able to buy an apartment building of at least 8-units with the $60K (as downpayment).  I've heard some things about self-directed IRAs, but not sure how to make that happen.  Does anyone know the best way to actively invest this money in real-estate, i.e. not just buying REITs?  Or any other way to invest this money that would have comparable growth.

I will be in the Raleigh, Durham, Chapel HIll area.

[Chris Martin]

Good luck finding an 8 unit apartment in Raleigh.