Real Estate IRA
IRA Real Estate Investing with Check Book Control
How to Buy Real Estate using a Real Estate IRA
Can you Really Buy and Sell Real Estate with your IRA?
Step 1: Self Directed Real Estate IRA:
Your first step is to establish an Unlimited IRA with a registered self-directed Ira custodian who will allow the IRA to participate in non-traditional type investments. We use & recommend iDirect Law who can facilitate this for you.
Step 2: Funds Rollovers :
Once the new Self Directed Real Estate IRA has been set up the facilitator will request, monitor and direct any transfers from your prior IRA holder(s) to the new self-directed Ira account. This process usually takes 2 to 3 weeks to complete and depends primarily upon your previous IRA custodian's ability to facilitate the transfers in a timely manner.
Step 3: The Limited Liability Company (LLC):
An important step in the process is to establish a Limited Liability Company (LLC) for your Self Directed Real Estate IRA. This LLC serves as the investing vehicle for the retirement plan and will allow a true level of self-direction and diversification not available in normal IRA plans. The facilitator will customize the LLC to conform to all the IRS rules & regulations. It is critical that you work with an Experienced Qualified Facilitator to structure the LLC appropriately.
Step 4: Funding Your LLC:
After the newly established Self Directed IRA has received the transfer(s) of funds from your prior retirement plans & the LLC has been properly established, it's time to set up the initial capitalization of the LLC (fund it). The facilitator will instruct your new custodian to invest your IRA funds in the LLC. Once this funding has taken place, your self-directed IRA is the actual owner of the LLC, holding most, if not all of the cash in the LLC checking account.
Step 5: Investing Your Funds:
Your IRA, indirectly through the new LLC is now ready to begin purchasing Real Estate. You now have Total Checkbook Control of your Self Directed Real Estate IRA, and can purchase Real Estate for your IRA simply by writing a check.
Some of this sounds a little complicated, but it's really pretty easy with the right professional assistance. We have done this personally and it was really easy. IRA Real Estate Investing makes perfect sense for many investors, especially today when there are so many great deals out there.
We have found that the folks at iDirect Law are extremely knowledgeable & helpful in setting up these Self Directed Ira Real Estate programs. They set up our account for us and it went flawlessly.
Yes you can, and we can show you how!!
For complicated tax matters like Real Estate Ira's you need Professional Assistance.
iDirect Law can provide the professional expertise required to set these IRA's up.
Always check with your Professional Tax Advisor if you have any questions.
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