Investing In Real Estate-using Your Ira/sep Money To Buy Properties
When trying to line up your financing options, you may have contemplated using your own cash to purchase properties. While this strategy may work in areas where homes sell for $50,000, it won’t be as effective in larger metropolitan areas where property values can expensive. It’s better for you to keep your cash in reserve and try to utilize more creative financing options.
One minor exception to not using cash for your purchases is to use your IRA/SEP money to buy properties. When you use this money to purchase properties, it’s tax free. If you don’t have a self-directed IRA or SEP, ask your financial planner or accountant for recommendations. Certain equity trust companies will allow you to use your IRA to buy and sell properties, make real estate loans, and do other creative deals that other IRA companies won’t allow.
If you’re able to borrow from your IRA or SEP, try purchasing these Tustin homes for sale.
August 1, 2010 at 9:00 am