What to do ... what to do ??
Hey everyone I have a bit of a dilemma. I have a TSP (Thrift Saving Plan, from the Gov.) Kind of like a 401K. I would like to use it to do some flips. I have been trying to get a HM loan against it, with no such luck. Two years ago I took a small loan from it and bought a foreclosure. My brother and I rehabbed the house and I now have it under a Lease Option, with a nice positive cash flow. My problem is I can’t take another loan out till the first one is paid off. About three more years to go! I herd a little some thing about taking and putting it in to an IRA account. Then use the IRA to fund my flips. I really don’t know much about this and could use some professional advice.
I would like to know what you guys would do if you had over 100K tied up in a retirement fund, and you couldn’t get to it. How can I make this work with out quitting the Gov.? Thanks in advance.