Updated almost 2 years ago on . Most recent reply
Looking to Borrow against Retirement to go to Auction
Hey team. Looking to potentially borrow against my military retirement account to go purchase at auction in my city. Interest on the loan sits at 5% over 5-year amortized period and repayment comes through deductions from payroll, unless I pay in full. Intention is to purchase at auction, and wholesale the place to a cash buyer after redemption period is over if i decide not to hold onto it myself. Looking for general advice as to what if anything, I should be concerned about. I'm fairly confident in my ability to get a place moved after acquisition.