Updated almost 7 years ago on . Most recent reply
Buying our first investment property
Hello,
My husband and I are in the process of buying our first investment property. We have a HELOC and cashing out a 401(k) for the down payment. Both our tax accountant and financial planner are against the cash out because of the fees, but we have no other option if we want to get into investing in RE. The property is a good deal, but requires rehab. Post rehab, we are thinking would be at a good value, giving us the option of BRRR or....as my taxt acct recommended, return the $ to the 401(k) to avoid paying the fees.
Being our first investment, We are both, nervous and excited, but convinced that We want to invest in RE. What would you guys do if you were in our shoes?