IRA Financial Group, the leading provider of self-directed IRA LLC “checkbook control” solutions, has witnessed a growing number of retirement investors looking to use their retirement funds to buy real estate in emerging markets, such as Africa, the Middle East, and Latin America.
“Over the last year, we have a witnessed a surging number of retirement investors using the IRA and 401(k) funds to buy residential real estate in emerging markets, such as Africa and the Middle East,“ stated Adam Bergman, a tax attorney with the IRA Financial Group. “Over the last few months, we have had a number of clients looking to invest their IRA funds into residential real estate in Zimbabwe and Nigeria,“ stated Mr. Bergman. “The allure of purchasing real estate in Africa is that the upside is so great,“ stated Mr. Bergman.
A Self-Directed real estate IRA investors, also called a real estate IRA with checkbook control, is an IRS approved structure that allows one to use their retirement funds to make real estate and other investments tax-free and without custodian consent. The Self-Directed IRA involves the establishment of a limited liability company (“LLC”) that is owned by the IRA (care of the IRA custodian) and managed by the IRA holder or any third-party. As manager of the IRA LLC, the IRA owner will have control over the IRA assets to make the investments he or she wants and understand – not just investments forced upon you by Wall Street.
With a self-directed real estate IRA with checkbook control established through IRA Financial Group, an investor is able to use retirement funds to make domestic or foreign real estate tax-free and without custodian consent! Using a self-directed IRA LLC, clients of the IRA Financial Group have the ability to take advantage of the growth potential in emerging market real estate investments.
Jacky Ospina, a senior paralegal with the IRA Financial Group, expands on the benefits of using a self-directed IRA LLC with checkbook control to make real estate investments and why so many retirement investors are interested on the presidential candidates position on this subject, ”With a self directed IRA structure, retirement investors will have the power to act quickly on an attractive real estate investment opportunity presents itself. When one finds a real estate investment, simply write a check or wire the funds straight from the Self-Directed IRA LLC bank account to make the investment.” In addition, with the Self-Directed IRA structure, all income and gains from IRA investments will generally flow back to your IRA LLC tax-free.