Penalty Free COVID Roth IRA Withdrawal? Need Private Money

[Matt Camilliere]

Hi BP Community,

Firstly - has anyone had any experience taking money out of their Roth IRA during COVID-19? I heard there's a 100k withdrawal allowance with no penalty and a 3 year grace period to replenish withdrawn funds. I'm thinking about pitching this to a few potential investors to fund part 2 (below) of this post - what are the tax implications of an early withdrawal and has anyone had experience doing this yet?

Secondly - I am looking for private money (5 figure range) to partially cover hard money costs (15% down, 2.5 points, 11.5% interest - 100% funding). I am based out of Austin, TX and am open to discuss with anyone looking to make an easy 8-10% on their money (ATX would be nice, but not necessary). $$$ needed for Flips and/or BRRRRs.

If anyone has further advice on raising private money please advise!