12 Jul Investment Property through Self-Directed IRA’s
Boomers and other late Bloomers may have worked and saved their entire careers and saved in their company’s 401k plan .. now, they make the big move to Retirement .. roll over their savings into an IRA at their trusted Brokerage House and with the help of their financial adviser, will watch their money inch up and back .. on stocks, bonds and mutual funds.
At the same time, these same people may have had a passion of the real estate world and would love to put some of their money to work on Investment Property, buying and managing. There has been a solution tailor-made for them … right in front of them. The rewards and satisfaction can be very enticing – if they are up to the challenge. The first step is to move some of the Brokerage House money to a Self Directed IRA, normally with another financial institution who specializes in helping you manage this new IRA.
Then, your Hermann London agent can help you find suitable properties. The Self Directed IRA account is quite simple in theory .. it becomes the depository of all income from property, and likewise, the expenses. The financial institutions may have a checkbook type system, whereby your IRA becomes your credit line .. and also, debit cards to charge rehab and repair purchases. All of this is not without what would seem as strange rules: just a couple: you cannot do the rehab work yourself; you or spouse or children or parents may never use or take advantage of renting or staying in the property, just to name a couple. This is not second home, vacation home property .. it’s only investment. You will manage your self directed IRA as a business!!!
I must admit, these concepts are all relatively new to this Investor .. Larry Kruse, who is also a Realtor at Hermann London Group. So, let’s get started … let’s start the conversations and education, have us recommend potential financial institutions who specialize in real estate self directed IRAs … and, HAVE A TRUSTED HERMANN LONDON REAL ESTATE GROUP REALTOR TO START IN THE INVESTMENT PROPERTY SEARCH FOR YOU !!