Take Advantage of Foreclosures w/Self-directed IRAs

OK, we know that homes are foreclosing at an incredible rate – and if you haven’t noticed, you should take the time to read the latest report from CNN Money

Needless to say, these foreclosures are devastating for those losing their homes and their good credit. But it does mean an opportunity for investors wishing to purchase property at below-market costs. The thing is: you’ve got to be ready to pounce on that property as soon as it becomes available.

One way that forward-thinking investors can take advantage of spur-of-the-moment purchases is through self-directed IRAs. If structured correctly – and if you have enough money in your retirement account -- you can have checkbook control of your retirement funds. This means you can write a check to buy the foreclosed property on the spot. As long as your real estate investment is done exclusively to benefit your IRA and doesn’t represent a conflict of interest (like you living in the home you buy or renting it out to relatives), you won’t incur taxes or penalties.

There are only a few companies that specialize in structuring a real estate IRA I work for one of them (Guidant Financial Group). Check out the Guidant Financial website for more information.

Wishing you success,

Self-directed Sharon