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Updated over 4 years ago on . Most recent reply
Self Directed IRA vs Early Withdrawal
I live in Idaho and I'm currently BRRRRing my first rental property in Ohio with my HELOC. I want to build fast and get experience so I transferred my 50k Roth IRA to be self directed. My coach is confident that I can buy and rehab a SFH in Ohio for 25k-40k.
After some more research, I'm starting to wonder if I should have just withdrawn it and ate the penalty so I could just buy property outside of a retirement fund. I'm only 30 and I'm hoping to be able to live off my investments long before I turn 59 1/2. My money could grow faster when leveraged (or BRRRRing) outside of an IRA than not being leveraged in an IRA, right? I'm thinking I'd put some in stocks as well to diversify.
Anyway, If anyone could give some advice/opinions I'd greatly appreciate it. Thanks.
Most Popular Reply
Jordan,
How did you locate your property in Ohio? I'm located in Hawaii and interested in Ohio market. Do you have any contacts you don't mind recommending/referring? Thanks in advance.
-Voltaire