Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago on . Most recent reply

Account Closed
  • Indiana
0
Votes |
10
Posts

Withdrawing money from a mutual fund to purchase real estate.

Account Closed
  • Indiana
Posted

I hope this is the correct forum to post this question. 

I currently have a mutual fund account with around 25k that I would like to use towards the purchase on an investment property. Long story short, my parents set this account up for me when I was born and they have added to it my entire life. Now that I have graduated college, the account and money has been turned over to me. As of now, the only option I know of is to sell the funds, withdraw the money, and then pay taxes on all of that money. Then use what is left towards the purchase of a property.

I was wondering if anyone on BP knew of any other options that would have some tax advantages? I plan on talking more with my financial adviser but thought I would do a little research beforehand. 

Loading replies...