Funding My First Deal: Pulling Money from Investment Accounts

[Alex Ballesteros]

I am currently looking to fund my first deal within the next 6-12 months, and wanted to see if you guys had any advice on how you would approach the situation in my shoes. I am a first time investor & would appreciate any tips/ advice from you all. Thanks in advance.

Looking for:

• Multifamily rental in Indianapolis

My current financial situation:

• ROTH IRA - $98 K Total (YTD Growth, 24%) / Available to take out $10K (w/o penalty, from either Roth or Simple, only 1 acct). ($46K in contributions)

• Simple IRA - $39 K Total (YTD Growth, 16%) / Available to take out $10K (w/o penalty, from either Roth or Simple, only 1 acct). ($33K in contributions)

• Financial Advisor Acct - $32 K Total (YTD Growth, 44%) / $20K in contributions. Still not sure what the penalties are to pull money out, but i have a call scheduled with him next week to find out. FYI its a traditional brokerage account. 

Cash: $10K in bank savings account

Credit Score: 

740

Prequalified for:

$550,000