Use Part Of My 401K For Down Payment On 1st REI Property?

[David Klem]

I have a brainstorm idea. The primary reason that I'm on here at a minimum is to create passive income for when I'm forced to retire. I have a 401K that is in the lower 5 figures. At this point I don't have much else other than SS. I've been on here for a long time watching podcast after podcast and reading book after book. I thought I could put some of those funds to better use by using it for my first property down payment as would be required by a hard money lender via the Brrrr strategy. Just finished watching Podcast 200 with Brandon And Josh; A Step By Step Guide To Buying Your First REI Property

I'm 62 and my health is great so far. Nothing is stopping me from moving forward one way or another. I want out of trucking and I want to be home with my wife everyday

Any thoughts are welcome

Thank you

[David Klem]

Effram,

Yes, I have a W2 job. If I don't build some kind of passive income, I can forget about retiring comfortably. Too many mistakes through the years. I just learned of REI in the last 4 years. I don't see any forced retirement on the horizon. I'm a vegan and have great energy and health for my age. I have no other choice but to try and move forward late in life. I'm confident that I can pull this off. I have 2 vegan acquaintances who are doctors. They are well in there 80's and still practicing medicin