REAL ESTATE IRA’S

Please Note: This is an overview only. 

You may purchase real estate “inside” of your IRA.  This class of IRA is called a, “Self-directed Real Estate IRA plan.”   You must have a Custodian set this up in order to do this in complete compliance with legal statutes. 

Here is some general information that states;   section 408 of the Internal Revenue Code permits individuals to purchase real estate including land, commercial property, condominiums, residential property, mortgages, trust deeds, real estate contracts or private placements with funds held in many common forms of IRA’s, including 401k’s, a traditional IRA, a Roth IRA, and a Simplified Employee Pension plan, or SEP-IRA. . .

A couple of items or caveats to note; it must be for investment purposes.  A personal residence does not qualify.  A residence that you want to rent to a child, for instance, also does not qualify.  It cannot be a vacation property either.  There are numerous regulations that must be met.   The Custodian is a company that is known as an “IRA custodian.”

It is also possible to sell properties while they are held by your IRA, (so long as the purchaser is not a family member).  Once a sale is completed, your IRA account holds the proceeds.

MY INTEREST IS IN HELPING YOU FIND RESIDENTIAL PROPERTIES TO PURCHASE .

If you are interested in exploring this option I have contact information for 3 companies.  Please call me at 916-220-7888 and I will forward the contacts to you.  You may also use the internet to search for further information and/or custodians.  I do not endorse any specific company.  Since I am only licensed to sell real estate, my role is limited.  Certainly, you may research custodian companies on your own and I encourage that.

However, if you are interested in attending a free evening seminar, presented by either a custodian company or lender, send me an email or call me (916-220-7888), as I am most interested in having this information shared with people.  My email is: vmastracco@golyon.com.  We are hoping to have the first seminar in mid-February.