Should I Cash Out My Pension To Buy My First Rental Property?
2 Replies
Juli Becker
from Eau Claire, WI
posted over 3 years ago
I work in the student loan servicing industry, and my company was recently bought out by a competitor. Because of this, I will either be able to roll over my pension for discounted stock options in the new company or roll over into a self directed IRA or cash out with penalties. I am 50 and single, and my concerns come from being a child of a struggling trailer park owner in the 1960/70's and a former wife of a struggling carpenter/general contractor. I have been diligently listening to the BiggerPockets podcasts and would really like to invest for cash flow and leave a legacy to my grand daughters. Should I Cash Out My Pension To Invest In My First Rental Property?
Maria M.
Entrepreneur from Naples, Florida
replied over 3 years ago
before you cash out anything check out the govt. programs in your area that offer grants or financial assistance to buy real estate . That's how i bought my first . You will be surprised as to what you will find . you will have to do some research. or go to lesko.com/tutor
I got all mine from there. he really helped me out.
Hope this helps. If not, sorry .I tried . All the best.
Juli Becker
from Eau Claire, WI
replied over 3 years ago
Thank you, Maria, for the suggestion. I was thinking of using an FHA 3.5% down mortgage to house back my first property. I wasn't aware there may be grants available to help. You're right. I need to do more research.