Otherwise, you will default and pay the taxes including the ten percent penalty for early withdrawal in case you'll not be able to pay the full balance. A lot of people don't know that they can actually use their retirement money savings as an investment and there are in fact different ways to engage in 401K real estate investing. However, this is favorable if you are doing fixer upper because you can refinance to quickly pay back your loan after the rehab. There is also another alternative where you can finance the down payment by using your IRA balance.
Who Voted for this Story There is also another alternative where you can finance the down payment by using your IRA balance.
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