14 Jan #49 3 WAYS YOU CAN USE RETIREMENT FUNDS to buy REAL ESTATE
1) If you are a first time home buyer, you can potentially without penalty use retirement funds to purchase your first home! You may have to pay tax on amount withdrawn and there are limits that are sheltered, however now with our all the new buyer friendly loan programs it could be a way to realize the dream of owning your own home and taking advantage of all the great low interest rates!
2) Even if you are not a first time home buyer, you could potentially use your retirement to purchase Real Estate and make it part of your retirement portfolio! Many years ago I found out that I could put my retirement funds into a self-directed retirement account and use these funds to purchase Real Estate making this part of my retirement portfolio! You can do this as well even if you do not have a real estate license! There are some rules that apply, however, I personally have knowledge and also have people I can direct you to if you are considering this!
3) Another way to use your retirement funds and not pay penalties when doing so is to see if your company or retirement account holder will allow you to obtain a loan against your own money retirement funds! Many companies will let you take up to 50% of your retirement as a loan on your own money and you can use this towards the purchase of another home even if it is not your first home! It could even be rental properties!
I believe Real Estate is one of the safest and best forms of building wealth!