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Do you have a Self-Directed IRA? Every real estate investor needs to read this.
A growing number of real estate investors are using a self-directed IRA to finance their property purchases nowadays. That’s because a self-directed IRA can provide them with the opportunity to buy real estate and earn rental income without paying early distribution fees.The Investment Company Institute – the national association of U.S. investment companies, estimates that about $4.7 trillion in IRAs were held in the U.S. last year. Of this, an estimated $94 billion (only 2 percent) are in Self-directed IRAs.A Self-directed Individual Retirement Account (IRA) is not your typical IRA since it allows the account owner to invest in a wider set of assets than those offered by custodians and trustees of traditional IRAs. This separates a Self-directed IRA from other types of IRAs since the account holder can decide what permissible investments to put his money into without having the custodian or trustee set a limit on what investments to pursue, hence the term “self-directed”. In other words, the account holder is limited only by the rules set by the Internal Revenue Service (IRS) and of course, his choice of investments. Remember too that the custodian or trustee is also in charge of facilitating all other transactions that involve the ... more
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