Utilizing retirement funds from a previous job
I have a retirement account from a previous employer. It contains around $23,000. I was considering trying to use this money to help in purchasing my next property. However, this account, while I'm no longer contributing to it, is gaining 7% annually. So I have a few questions regarding this:
1. Should I even mess with this money, or would it be in my best interest to leave it alone and let it grow? I know 7% is pretty good, but I also know higher numbers can be obtained through real estate.
2. If the above answer is to use it investing in real estate, what is the best way to go about accessing this money for investing purposes?
3. What would you do with this money?
I also have approximately $60,000 in combined equity between my primary residence and my rental that I could access via HELOC or cash-out refi if necessary.
My planned strategy has been buy and holding a few small multifamily properties (if I can find any) until I can scale up to a small apartment complex or two. However, I'm not opposed to a flip if I could find the right partner. My work schedule would not allow me to oversee the day-to-day of a construction project. I've also considered tax liens.