Buying Property with Your IRA
An Individual Retirement Account (IRA) is a great option for investing in real estate land. Although many don’t trust in the current housing market, investing in real estate land can actually generate higher returns than the stock market over the long term.
If you have an interest in using your IRA to invest in real estate land, know that it can be very rewarding, but you must also properly prepare and move ahead cautiously. Consulting with an attorney and a real estate agent will help you to make sure that you know all the pros and cons of investing in real estate land as well as the rules and regulations you are bound by in regards to your type of IRA. Using your IRA to invest in a property land sale does take time and effort, but most investors find that it is worth the hard work.
In order to use your IRA to fund land sales, you should begin by creating a self-directed IRA. Typically, it takes a few weeks to open an IRA account at a firm, so keep this in mind if you are seriously considering a specific plot of vacant land for sale. The IRS also requires all individuals with an IRA to have a custodian that is responsible for keeping records of your account and directing money to your investments. It is important to note that custodians must approve any and all money coming in or out of your IRA, including funding to obtain titles to vacant land for sale. Therefore, it is essential that you find a reputable custodian that you can trust to properly manage your IRA investments. Performing an online search or asking friends and family in your area should help you to locate a custodian that you feel comfortable with.
Custodians vary in fees charged and services provided, so you should research each individual company you are considering to make sure you fully understand the way they work with clients. Some custodians work on a fee basis, charging a set amount for each service, while some work on an asset basis, charging a set percentage of the annual asset value. After researching, you can then make an informed decision on a custodian that will do a great job managing your investments at a cost that is within your budget.
After opening an IRA account and securing a custodian, you can then begin to search or make offers on property land sales. IRA funding can be used to purchase a number of properties, including the following:
- Vacant Land for Sale
If you are considering purchasing vacant land for sale with your IRA, head over to AllAcres.com. Our site will immediately place you in front of hundreds of high quality properties in cities across the country, all from the comfort of your home. For more information on property land sales in your desired area, please call AllAcres at 855-227-3741 or contact us online.