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Updated over 8 years ago,

Account Closed
  • Investor
  • Fort Collins, CO
0
Votes |
3
Posts

What do I need to consider for this down payment?

Account Closed
  • Investor
  • Fort Collins, CO
Posted

Hi,

I'm looking into placing an offer on a ten-unit building and best way for me to acquire enough money for the down payment is to cash out my 401K, my Roth IRA, and both of my wife's, too. I realize there will be early withdrawal penalties.

I'm hoping I can withdrawal the money without upfront penalty and be able to pay the taxes next April.  Does anyone have experience with this?  I'd appreciate tips and advice.

Thanks in advance.

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