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Updated about 6 years ago,
Transferring Roth IRA into real estate
I'm looking to expand my portfolio but trying to get the cash for the down payment (only have 1 SFR right now) Currently, I have a Roth IRA that's in mutual funds, sizeable enough for a down payment plus what I have in savings. I've a decent paying job and looking for a conventional loan on SFRs.
Two questions really, one, can I cash out my Roth and put it into property without the tax penalty? Is this even possible. Two, is this even a wise decision?
I'd love to hear your thoughts.