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Updated almost 9 years ago, 12/26/2015
How can I use a tax deferred retirement vehicle as a downpayment
In Feb 2015 I purchased a single family residence where I reside and rent out a room.
In a couple years, once I have saved up enough money for a down payment I want to purchase another single family residence. I will rent out my first house, and live in and renovate the second one.
Currently I have been saving all my money in my stock account. I realized I could be missing out on a lot of money by not taking advantage of my tax deferred accounts.
My current thinking is to max out my 401k for two years and then turn the 401k into a self directed IRA and use it for a down payment.
As you can probably tell I am weak on this issue. Is there a way to use my Roth IRA and a 401k as a down payment for a second property which I will live in for a couple years?
Thanks for helping out a IRA noob,
Jordan