Increase popularity of flipping homes causing tighter market conditions for self-directed IRA real estate clients
IRA Financial Group, the leading provider of self-directed IRA LLC solutions for real estate investors, has seen continued demand from real estate investors looking to use their retirement funds to flip homes. According to an IRA Financial Group internal customer survey that involved clients from across the country, a strong majority of the respondents indicated seeing string returns from flipping homes but have noticed a tightening real estate market which could limit profit down the road.
“We have heard from a number of our self-directed IRA clients who find the real estate market a lot more competitive now, “ stated Adam Bergman, a tax partner with the IRA Financial Group. “The feedback we have heard from our clients is that because real estate has become very trendy, you have a lot of people who didn’t invest in real estate before 2009 that are now wanting to get involved in real estate because it is so prevalent on TV,” stated Mr. Bergman.
According to Mr. Bergman,“a self-directed IRA LLC offers one the ability to use his or her retirement funds to make almost any type of investment without tax, including real estate. The IRS has always permitted an IRA to purchase real estate, raw land, or flip homes”.
“With IRA Financial Group’s IRA LLC solution, buying and flipping rental properties is as simple as writing a check and is tax-free, “ stated Jacky Ospina, a tax specialist with the IRA Financial Group. “As the manager of your Real Estate IRA LLC, the IRA holder will have control over his or her IRA funds so that flipping a home can be made by simply writing a check,” stated Ms. Ospina.
Unlike a conventional Self Directed IRA which requires custodian consent and requires high custodian fees, a self-directed IRA LLC with Checkbook Control will allow one to buy real estate, including rental properties by simply writing a check. With a traditional custodian controlled self directed IRA, one will have total control to make a real estate purchase, pay for improvements, and then sell the property without ever talking to the IRA custodian. Since all the IRA funds will be held at a local bank in the name of the self-directed IRA LLC, all one would need to do to engage in an IRA house flipping transaction is write a check straight from the IRA LLC account or simply wire the funds from the Real Estate IRA LLC bank account. With IRA Financial Group’s real estate IRA LLC solution, no longer would one need to ask the IRA custodian for permission or have the IRA custodian sign the real estate transaction documents. Instead, with a Checkbook Control IRA, as manager of the IRA LLC, the IRA holder, will be able to buy rental properties simply by writing a check.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market’s leading “checkbook control” Self Directed IRA Facilitator. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.