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Using IRAs to purchase Real Estate for investment
My husband and I have a bunch of IRA funds some Roth, some regular, another 401k. We are both self employed, he is 44 and I am 48. We read a short article once on how we can have a bigger investment if we purchase property with it instead. We don't know how to go about this or who to consult about it. What type of professional would know A lot about this subject rather than just a little. Thank you for any help we can get.
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I'm not an expert, but below are a couple of web sites to look at - the first two give some general information and advice, and the third is from a company you can actually work with to set up your self-directed IRA. Be very careful that you don't mix any of the transactions from your IRA with other accounts - all costs on this property must be borne by the IRA (for example, don't ever write a personal check for maintenance or insurance on the property, or you will have major tax headaches), and this must be investment property, not a vacation home or used by your business. Good luck!
Online Exclusive: Buy Real Estate in Your IRA Ground your retirement fund with real estate - MSN Money The Nation's Leading Real Estate IRA |
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