IRA INFO
You
can buy oceanfront real estate using
your IRA – investing for
your retirement !
The
best kept secret in real estate investing?
Why
do so few of
us understand “the real estate IRA.” Maybe we just don’t know to ask
our
financial advisor or CPA, or maybe it is a lack of broad advertising.
Since
IRA accounts invested in stocks, bonds and other financial paper, they
have become very lucrative for banks, mutual funds, insurance companies
and brokerage houses.These institutions will gladly act as your trustee
(the middlemen in all IRAs) and sell you their products. But they won't
act as your trustee if you want to buy real estate with IRA money. Why?
These institutions are not in the real estate business. You are on your
own when investing in a real estate IRA. You can use a REALTOR to help
you find investment property. Once purchased, your trustee and/or a
management
company is your best bet to collect rents and maintain the property.
All
your IRA money
is in mutual funds and you’d like to diversify. One way is to buy raw
land,
a condo or a building lot -- even your retirement condo in Daytona
Beach
Shores, Daytona Beach Shores, Ponce Inlet or Ormond Beach. You’ve
already
seen the retirement home of your dreams. The trouble is that you're at
least a ten or more years from retirement and almost all of your money
is invested in your IRA.
Unfortunately,
because
by the time you're ready to sell your current home, that oceanfront
condo
will probably be way out of reach. What if you could access some of
that
IRA money without paying a penalty. If only you could rent the
oceanfront
condo and sock away the income, tax-deferred - until you retire and
enjoy
it yourself. You would be in the best position to leverage this fast
appreciating
asset, one that is prime property with the best potential for
appreciation.
The
majority of
your IRA money doesn't have to be in paper investments (stocks, bonds,
CD's)
Most
investors believe
they cannot use IRA money to buy real estate. They are wrong. You can
invest
IRA money in a wide range of investments, including stocks, bonds,
mutual
funds, money market funds, saving certificates, U.S. Treasury
securities,
promissory notes secured by mortgages or deeds of trust, limited
partnerships
and … real estate. This includes houses, condos, raw land, building
lots,
commercial property, acreage, office buildings or office condos – ask
me
to help you find the perfect property for you.
You
are NOT ALLOWED
to use IRA money to buy your own residence, or any other property in
which
you live. It HAS TO BE investment property. But when you retire, you
can
direct your IRA to turn the property over to you as a distribution, at
the current market value.
After
the closing,
the IRA can make capital improvements in the property and rent it out
for
a nice income, all tax-deferred. (It could even be tax-free if the Roth
IRA is used.)
Remember,
you can
always get out of your investment. Just direct your trustee to sell
your
property or interest, and have the funds reinvested elsewhere. Please
check
with your CPA and carefully read the tax codes, you’ll soon be calling
me for your dream oceanfront investment property. I can help you with
any
real estate in Florida from $350,00 to several million. Call me now to
get started, O. Kheir, REALTOR, Cook Real Estate Sales, Inc. (386)
527-8492
3340
South Atlantic Ave.
Daytona
Beach Shores, FL
32118
(386) 527-8492
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