If its in a good area in time it should appreciate more and coupled with your yearly pay down on the mortgage in time you should come out ahead.

I'll probably eventually purchase several properties there, and might as well go ahead and establish a relationship.

So, even though I "failed" in my first partnership and on my first two deals, good things came of it, and I think I am actually further ahead now than I would have been if I had not experienced that failure.On one of the deals we own now, we have had a very rough time.  

@Shaun Reilly , Aah, but it doesn't matter to the Seller whether there is "dual agency" or not, because as a good agent, you have negotiated one Fee with the Seller ahead of time (so that if you get lucky with finding a Buyer off the street, you do get both 'buy and sell' sides of the commission, but if your Buyer has used a different Agent, you already know that you will have to split the Fee with that Agent)!

It seems like you're already ahead of the curve, so I'm sure you'll do great!

Ive seen some 4/2 that sold a lot cheaper than 3/2 in the same area, just giving you a heads up.

Great adventures ahead...

I think you would be further ahead by using money from anywhere else you can, and have the IRA be part of your reserves- the bank want to see that you have 6 months PITI on any and all loans you have, they will count the money in the IRA (less the tax and penalty) but at least you don't have to use it.We have tightened our belts and are putting everything possible toward another purchase.  

Meaning you could technically start the process ahead of time, get a pre-approval letter and start making offers, then once things draw near move in with family for a month till you can close.

Hey Everyone,I posted a little over a month ago about my goals for 2015, and so far I am ahead of schedule!