Using retirement to buy condo
Hi. I'm from Phoenix Az and I am 34 old. I'm tired of living paycheck to paycheck. I know I will pay lots of money in taxes if I take out my $43,000 retirement early, but it is my only way to come up with the money to put as a down payment on real estate. I would like to buy a condo in a very great location near Arizona State University. I am very familiar with those condos since my mother has lived there the past 5 years. They are newer and beautiful and rent out quickly. I feel confident this would be a good investment. The condo is $87,500. I would have enough money to put down. Also the rent would be cheap enough for me to pay if someone does not rent it that month...around $500. Does anybody have any advice to give me? Any words will be helpful to me....Jennifer