Let your lazy money buy you a house:
Tuesday, December 19, 2006
I just attended with one of my buyers, a great 1 day seminar about how you can make your
lazy, slow earning money, that is just sitting in your IRA,401K or SEP accounts, buy you your next great investment!
This type of investment is not new. You have been able to direct your Retirement invest accounts since 1974. But in the 1970's, when these first started, no one had enough money built up in them to buy any real estate, now, 30 years later, most all of us have enough in our accounts to buy some investment properties.
There are a number of rules and guidelines you need to follow, the biggest one is, you want to make sure you invest in the right market. Portland Oregon is one of those perfect real estate investment markets. You can still buy a great condition home (not needing a lot to be rented out at once) for well under $225,000. If you put the correct amount down, buy in the right neighborhood, you can create a wonderful investment that is going up approximately 5-15% per year. You also get to write off the interest rate and someone else is making all or most all of your mortgage payment. Make sure to check with your CPA, Attorney or any other professional that you deal with about your finances.
There are also things you CAN NOT use your Retirement money to invest in. For example,
Collectables:
work of art
rug or antique
metal or gem
stamp or coin
alcoholic beverages
Let me know if I can be of any further help with this concept. We are well versed in using your IRA funds to purchase investment real estate...