How to buy foreclosures using Self Directed IRA's
Purchasing a foreclosure home as an investment property can be a very smart decision today. In the past twelve months, we have worked with many of our savvy investors utilizing their Self-directed IRA accounts to do just that. There are many great buys currently on the market today. Our Property Management Division provides the support you need to remain within the IRS rules concerning mnagement of investment property owned by your self directed IRA.
What is Self-directed IRA?: Self-directed IRA is the same as a any other IRA, except that this account allows you to invest in non-traditional investments like real estate, businesses, mortgage notes, tax liens, private notes and many more areas – to learn more please visit: www.NuviewIRA.com Unbeknown to many, the IRS and Congress passed the law called ERISA Act, which has allowed investors to take control of their own investments since 1974 .
How to utilize Self-directed IRA to buy real estate: Here’s how it can work for you. Say you currently have $120K saved in your Traditional IRA or an old 401K account. All you need to do is to “convert” this existing account over into a Self-directed IRA. Once established, it is treated by the IRS as a rollover and there will not be any taxes, or penalties whatsoever to you.
Once that the account is opened, you have complete control over what types of investments you can make! Coming back to the foreclose investment; you could use your Self-directed IRA funds to purchase the property all cash. You can co-invest with partners, and friends etc. The opportunity is endless. You can do so without having to deal with any lenders, period. In a nut shell, you are using your Self-directed IRA to invest in real estate, moving away from stocks and mutual funds.
In
closing, there are many options available to you today to invest in
real estate; we will share these “secrets” with you. Feel free to
contact Rich Weaver at NuView or Carroll Bostic here at American Paradise Properties at her
direct number at 954-296-3646. We can explore all your investment
options, empowering you to take control of your own retirement
destiny.
American Paradise Properties uses a spreadsheet to help our clients analyze the potential returns on their real estate investments using the variables of purchase price, rental income, expenses, etc to come up with an ROI (return on investment) that makes you happy. Contact us for more information.
Rich Weaver, Director of Business Development (South Florida), joined the NuView team in 2012 and heads up our new office in Fort Lauderdale. He is responsible for educating the public about self-directed IRAs as well as building new relationships for NuView in South Florida. He has over 10 years experience in the real estate and mortgage industry in South Florida.
Rich graduated from Nova Southeastern University with a Bachelors of Science Degree in Business, a member of Delta Epsilon Iota Honor Society, and a Dean's List recipient. Rich is married with two children in college and a miniature schnauzer named Lola. He loves golf and cruising the Caribbean. He is also a 10-year season ticket holder for the Miami Dolphins, an avid Miami Heat fan, and a member of the South Florida Super Bowl Host Committee.
