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Self-Directed IRA Investors Purchasing Homes in Detroit for as Low as $500 at Auction as a Result of City Bankruptcy

Wayne County, Michigan real estate foreclosure auctions generating strong demand from self-directed IRA investors looking for bargain deals

IRA Financial Group, the leading provider of “checkbook control” self-directed IRA and Solo 401(k) Plans as seen an increasing demand from self-directed IRA retirement investors across the United States looking to purchase distressed real estate properties at the Wayne County, Michigan auctions. “Reading about investors that have purchased homes in the Detroit area for as low as $500 spurred demand for self directed IRA investors in the Detroit real estate market,” stated Adam Bergman, a tax attorney with the IRA Financial Group. “Due to the city of Detroit bankruptcy, many real estate investors have looked to take advantage of the distressed prices with IRA Financial Group’s self-directed IRA LLC solution,” stated Mr. Bergman.

8,910 Detroit properties owing more than $265 million in unpaid property taxes are careering towards this year’s Wayne County Tax Foreclosure Auction. Every year, the Wayne County, Michigan Treasurer forecloses on properties in Wayne County that have not paid property taxes in three years. In an effort to recoup unpaid taxes, a foreclosure auction is held where these properties are auctioned off in two rounds. In the first round, properties are auctioned for the total amount of back taxes owed. In the second round, the opening bid on all properties is $500. “In light of the Detroit bankruptcy, self-directed IRA clients have been eager to take advantage of the depressed Detroit real estate prices,” stated Mr. Bergman.

The primary advantage of using a Self Directed IRA LLC and Solo 401(k) Plan to make distressed real estate investments is that all income and gains associated with the IRA investment grow tax-deferred.

Using IRA Financial Group’s self directed IRA LLC with “checkbook control” solution to make real estate investments offers a number of very interesting investment opportunities, including the ability to diversify ones retirement portfolio with real estate, precious metals, and other alternative investment options. “By making self-directed real estate IRA investments in distressed properties, self-directed real estate IRA investors can generate tax-deferred income and gains,” stated Mr. Bergman.

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.

For more information, please call 800.472.0646.

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Posted in IRA Financial Group, Self-Directed IRA