When you have a standard IRA or 401k, your investment options are pretty limited. Typically, you’re forced to invest in stocks and that’s about it. domain info However, many people are starting to consider using their traditional retirement funds to make investments in real estate. With a real estate IRA, suddenly your investment options are wide open and you’re not stuck with the same old stocks anymore.
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A self directed IRA real estate investment can take on many shapes. For instance, you can buy up land, homes, or even commercial real estate if you wish, all using the funds in your self directed IRA account. On the whole increasing your options is a good thing. But that doesn’t mean you shouldn’t be cautious. Making the wrong investment choice could put your money at risk. You may find yourself having to pay penalties and even taxes on your investments, which you normally wouldn’t have to do with an IRA.
Traditional IRAs will bog you down with custodian fees and slow approval times. That’s why a self directed IRA is the obvious choice for investing in real estate. You have total control over your funds and don’t need to work through an IRA custodian before you make decisions. You can just make the investments you want to make, so long as they fit within the legal boundaries of an IRA.
Make the Move to a Real Estate IRA
Should you decide to move your funds over to a self directed IRA to buy real estate, be prepared to invest your time in the process. This is perfect for those that want to have a more intimate relationship with their investments and are sick and tired of other people controlling the reins of their financial future.
Your first task is to move your money to a self directed IRA. Then, find a property in which you’d like to invest. Remember: a standard IRA will not allow you to invest in real estate. expired domains You need a custodian-free account to make this happen.
Once you’re all set up, review the tax laws and rules attached to the account. It might seem unconventional to consider real estate investing with a 401k, but it’s actually a profitable way to make your retirement funds really work for you instead of languishing away in stocks and bonds. Because when the economy is in fluctuation, isn’t it better to be able to make the kinds of investments you want to make? And if a real estate IRA feels right for your current situation, there’s no reason you shouldn’t go for it.