Should you use retirement funds to buy rentals, pay for renovations, or scale your real estate portfolio faster? Saving for a down payment can be tough, and dipping into a retirement account might seem like a tempting shortcut. But is it worth paying the hefty penalty? We’re breaking it all down on today’s episode!
Welcome to another Rookie Reply, where Ashley and Tony answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. First, what do you do when a tenant wants to end their lease before it even starts? There are several factors to consider, from your state’s landlord-tenant laws to additional turnover costs, but we’ll steer you in the right direction.
Next, we’ll hear from an investor who’s considering withdrawing funds from their Roth IRA before retirement age to build their portfolio faster. Is it worth it? We’ll crunch the numbers and find out! Finally, where should you list your short-term rentals online, and how do you prevent your property from getting double-booked? As our resident short-term rental expert, Tony has the answer, and it’s much simpler than you might think!
Ashley:
Welcome to another episode of Rookie Reply. If you’ve ever wondered about tapping into your retirement funds for a deal or wondered how to scale your portfolio faster, this is the episode for you. We’re going to help you weigh the pros and cons of using a Roth IRA to accelerate a deal and to walk you through other options you may be able to take advantage of if you feel backed into a corner financially.
Tony:
And not only that, but in today’s episode we’ll also get into how to handle a messy tenant situation where they just signed a lease but they want to back out before they even move in. And then we will break down the best apps to manage your short-term rentals so you can maximize your cashflow.
Ashley:
This is the Real Estate Rookie podcast. And I’m Ashley Kehr.
Tony:
And I am Tony j Robinson.
Ashley:
Okay, so today our…