How many times have we seen the bargain hunters camping out in front of a store that is having a huge sale? I was a stockbroker back in the early eighties when the stock market had a big sale. It was like kids in the candy store picking up blue chip companies for bargain basement prices. As far as I can see, the real estate market is having its sale but where are the lines?
Investers should be the first ones in but I think the tight lending environment coupled with too much uncertainty has kept many on the sidelines. How many times have you found a great deal and said, "If I only had some extra cash right now..." It is time to start thinking a bit out of the box and take advantage of the "buyer's" market.
Look at your retirement funds. Those IRA accounts, old 401(k) dollars from previous employers, and rollover accounts probably sitting in CDs or mutual funds needing some diversification AND a way to make up ground lossed with the stock market drop. Placing the funds into a true self directed IRA account can provide that cash to pick up those great deals in real estate. In addition, you have other advantages. Income and gains from that real estate will be tax deferred or tax FREE, depending on the type of IRA account you have. Now, get in line!
Scott Grund is a real estate agent in upstate South Carolina specializing in real estate investment with self directed retirement plans. scott@ScottGrund.com
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