How to Use Your IRA to Buy Real Estate in Palm Beach County – Part 2

Check out our recent article here about putting local Palm Beach County investment property into your self directed IRA.

Are you looking out ways to use your IRA to buy real estate in Palm Beach County? Do you want to add IRA to your investment real estate portfolio? Then look no further because we are here to discuss ways to use your IRA to buy real estate in Palm Beach County.

Everybody knows that it is a great idea to put money into an IRA or similar investment vehicle in the hope of getting good returns. To widen your investment options and to include local Palm Beach County investment real estate in order to defer your taxes, it is an even better idea to create a self directed IRA. Similarly, due to the tax rates going up, a self directed IRA will help you to earn a better rate of return in the long run.

Thus, if you are considering this option, and contemplating that whether it is a good move for you, we will help you and will discuss how to use your IRA to buy real estate in Palm Beach County.

A Few SD IRA Real Estate Facts

  • The property bought with the IRA in Palm Beach County must be for business purpose and not a personal home, a second home or rental. However, we will discuss a simple way to put rental properties in an SD IRA.
  • The property you buy must not be something you already own.
  • The property must be purchased directly through the IRA.

How to Use Your IRA to Buy Real Estate in Palm Beach County

Although it is possible to buy a rental property with an IRA, but you must open a custodial account and transfer money into it. It is a simple process that could be done with our help. All you have to do is to give us a call at (561) 370-8335 and we will walk you through the whole process.

There are many rules for buying rental property with an IRA so make sure you are well versed with all the particulars. Also, if you are in the flipping business, you can buy the property for the purpose of flipping it. However, there is a limit to the number of flipping properties that you can purchase in one year in Palm Beach County with your self directed IRA. Thus, it is best to acquaint yourself with the rules for the process to make sure you can live with them.

SD IRA Investing Limits

Traditional mortgage with an IRA is not allowed according to the rules that govern this type of investments. Instead, you need to have enough money in your IRA to make the purchase. You have to make sure that your IRA has enough money to cover other cost associated with administrating the IRA.

You can reach out to us if you do not have great self directed IRA custodian. We have contacts and we can connect you with the ones we know of and who are very real estate friendly. Just give us a call at (561) 370-8335 or send an email through our Contact form. You can simply write “I am looking for SD IRA resources for buying Palm Beach County investment properties” and we will get back to you.

Basic Rules of Investing

There are some of the basic rules of investing that you need to learn in order to get good returns. One of the most important one is to diversify your portfolio. Although it might be very tempting to buy a real estate property, but do not just restrict yourself for buying properties only with your IRA.  Similarly, to get an independent view of the long term as well as a short term outlook, it is always a good idea to check with a qualified financial advisor before you make a purchase.

To conclude, using your IRA to invest in local Palm Beach County investment properties can be a great route. It helps you to grow your portfolio using real estate with the tax benefits of the IRA.

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