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Updated about 1 year ago on . Most recent reply

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Andy Wilson
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Andy Wilson's profile image
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Andy Wilson
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Andy Wilson
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General Real Estate Investing

Using money from retirement plan to buy a property?

Andy Wilson
Posted

Hi BP!

I want to keep my current properties with low interest rates locked but need to buy a property for my primary residence. I don't have enough funds for downpayment for that. Would you recommend to draw some money in my retirement plan or to use HELOC with current high rates?

Thanks for your advice in advance!

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Jeremiah Dunakin
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I have a vanguard 401k account at my job. I am able to take up to two loans out on it that I pay back to myself. I did one for first property and I’m glad I did it every first of the month. 

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