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How Do I Actually Invest in Real Estate With My IRA?

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How Do I Actually Invest in Real Estate With My IRA? Empty How Do I Actually Invest in Real Estate With My IRA?

Post by loveofevil Fri Nov 05, 2010 10:01 pm

How Do I Actually Invest in Real Estate With My IRA?

First, you open an account with Capital IRA with your new or rollover IRA funds (Tradtional, Roth, SEP or Simple IRA).

Opening a self-directed IRA account with Capital IRA is easy. You can contribute to your account at any time (subject to IRS contribution limits). If you have an existing retirement plan, such as a 401K or other IRA account, you can transfer or roll over the funds to your self-directed Capital IRA account. If you are transferring an existing account directly, Capital IRA will take care of sending the transfer/rollover request to your current custodian. Once Capital IRA receives the funds, the money will be deposited in an interest-bearing account in the name of your IRA. Opening an account typically takes 2 – 3 business days once Capital IRA receives your IRA funds.

If you are rolling over or transferring an existing account, please allow sufficient time for processing.

Your Capital IRA account must always maintain a $5,000.00 cushion to cover expenses and fees.

Next, find an investment property that meets your investment needs.

Investment in most types of real estate is permissible. This can include single and multi-family homes, unimproved land, timeshares, rental property, office and apartment buildings, and can even include tax liens and mortgages. Remember, the investment property must be truly an investment and not for your personal use or enjoyment. Capital IRA does not provide investment advice. However, we will provide you with necessary information so that you and your financial advisor can determine whether the real estate transaction you are planning meets with current tax and other guidelines.

Once you have found the property, you will fill out a Real Estate Investment Direction form (REID). The REID will tell Capital IRA all of the details of the property you are planning to buy, and will include funding requirements and directions. Capital IRA can provide title and insurance services within our affiliated networks in order to further streamline the process, making it quicker and more cost efficient for you. The buyer on the agreement of sale and the owner of the property is not you personally; it is your IRA. So, the title owner on the deed will be Capital IRA, LLC FBO [Your Name] IRA. Capital IRA will send the deposit and other funds as directed by you. We will review the property documents and paperwork to make sure it meets our administrative requirements. These documents may include the Agreement of Sale, Title Report, Copy of Deed, Closing Statement, Property Management Agreement and any other documents we may request. Capital IRA will coordinate the transaction with you, your realtor, your lender, the title company and any other individuals or companies involved in the transaction. Capital IRA will sign the closing documents on behalf of your IRA.

Keep “disqualified transactions” in mind

Although the IRS does not specifically regulate real estate purchases or sales using an IRA, it has very specific rules about transactions using IRA funds, since you are a separate entity from your IRA. Prohibited transactions could result in penalties or additional taxes. Generally, a prohibited transaction is an improper use of a traditional IRA account or annuity by you, your beneficiary or any other disqualified person. A disqualified person is you, your fiduciary and members of your family (spouse, ancestor, lineal descendant or spouse of lineal descendant). Investments using your IRA should be "arms length."

You cannot receive any benefit, direct or indirect, from the property or the transaction, since that would be a prohibited transaction between you and the IRA. So, for example, you can’t sell a property you own to your IRA.

You can’t use a vacation property that your IRA owns or rent yourself office space from a building your IRA owns. Capital IRA’s legal and professional staff will help you avoid prohibited transactions.

Capital IRA will keep all of your property records safely at our location.

IRA Investements Real Estate
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loveofevil

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Join date : 2010-11-05

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How Do I Actually Invest in Real Estate With My IRA? Empty sell my house fast fort lauderdale

Post by sellmyhouse11 Mon Nov 21, 2011 1:52 am

We buy houses from people in situations just like the above in almost any area or price range and most times our sellers have none of these issues but simply want a no hassle, fast sale.

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Age : 38
Location : 2808 NE 23rd St Ft. Lauderdale, Fl 33305

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