When was the last time you looked at your retirement portfolio?
Do you get those quarterly stock reports?
Are they performing the way you would like???????
As you take a look at your current financial snapshot, is there something missing from the picture? Is your retirement plan diversified and growing in a way that will allow you to be comfortable in your golden years? Many of us have IRAs or 401K plans through our company. Did you know that you can also buy Real Estate within an IRA retirement plan? IRA stands for Individual Retirement Arrangement (not account).
Most Individual Retirement Administrators, such as banks or brokerage firms limit your IRA choices to the products they sell - such as stocks, bonds and CDs. They are restricted by the plan document which dictates the type of investments allowed within the plan. So, if you look for the real estate option within your current plan you may not see Real Estate as a choice.
If you have investment property that is NOT within your retirement plan, you or your accountant can manage all the costs of the investment yourself. If you want your real estate to be inside your retirement plan, you will need to find a third party administrator to manage it for you (just as your IRA invested in stocks is handled by an administrator). I have found an investment company here in Birmingham Alabama that handles Self-Directed Retirement Plans. You control the types of investments that you participate in, such as buying and selling Real Estate.
What type of Real Estate can you buy? Almost any type as long as it is for investment purposes.
Can you leverage your investment if you don't have enough money for a down payment? Yes
Can you partner your IRA with others to make an investment? Yes
If your retirement dollars are within a 401K plan with your current employer, those funds probably cannot be moved to a new Self-Directed IRA which allows for the purchase of Real Estate, however, if you have funds within a Traditional IRA, an IRA at a previous employer, or your company goes through a merger, those funds may be available for transfer to the Self-Directed IRA. You can also start a self-directed IRA from scratch.
For more information about buying Real Estate in Hoover, Alabama, or a Real Estate Investment within your retirement plan, contact me at Toni@ToniBird.com or give me a call at 205-821-3312. There are great opportunities in Real Estate today and I would love to help you build a portfolio for the future.
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