Unknown to most, Self Directed IRA LLC offers one the ability to use his or her retirement funds to make almost any type of investment on their own without requiring the consent of any custodian or person. The IRS only describes the type of investments that are prohibited, which are very few.
IRA Financial Group’s self directed IRA LLC offers one the ability to use his or her retirement funds to make almost any type of investment on their own without requiring the consent of any custodian or person, including buying foreclosure properties.
The IRS has always permitted an IRA to purchase real estate, raw land, or foreclosure real estate properties. One major advantage of buying foreclosure properties with a Self-Directed IRA is that all gains are tax-deferred until a distribution is taken (Traditional IRA distributions are not required until the IRA owner turns 70 1/2). In the case of a Self-Directed Roth IRA LLC, all gains are tax-free.
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 foreclosure real estate 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. In fact, one would not be able to purchase foreclosure properties at auction since the IRA custodian would not need to cut the check. In the case of a self-directed IRA, 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 buy foreclosure properties at auction is simply write a check straight from the IRA LLC account. With IRA Financial Group’s self-directed 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 use a self directed IRA to buy real estate foreclosure properties at auction by simply 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.