The process is as simple as completing aform online. You will need an ID and a credit card for payment.
Step 2- Determine Your Investment Strategy
Explore the different investment strategies available to maximize your savings. You do not need to have the full amount in cash to invest in real estate with an IRA.
Step 3- Fund Your Account
This is the process of adding retirement funds to your self-directed account. You can do this by transferring funds from another IRA, by moving an old 401(k) from a previous employer, or by making a contribution. This is not a taxable event.
Step 4- Make the Investment
The purchasing process is very similar to a normal purchase, with the only difference being that the asset is owned by the IRA. As a result, both the offer and purchase contract are made in the IRA's name.
Example: IRAR Trust FBO John Doe Account Number 123456
IRAR works with title to fund your IRA's investment purchase.
Step 5- Manage the Investment
Once the deal is closed, you will set up all services and insurance under the IRA's name. Your tenants will directly send their rental payments to your IRA, and any repair costs for the property will be covered by funds from the IRA.
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Excellent speaker today. Concise, easy to follow information was in a logical order. Thank you! I wish this type of education had been available 20 years ago when I started real estate.
Very interested in learning more on how to help my clients do this for their retirement strategy. My husband and I would like to learn how we can do this for our own retirement. Excellent educational webinar. Thank you!
Super informative as I embark on this new career adventure! Investing, but mainly saving for retirement, is super important. Looking forward to many more sessions to learn the ins and outs of this vehicle to allow myself, my family and my business to achieve financial freedom to retire and enjoy!
