How to Use Your IRA to Buy Real Estate in Orlando – Part 2
We wrote a recent article about putting local Orlando investment property into your self-directed IRA… if you haven’t checked that one out… head over here. Part 1
Looking to add to your real estate portfolio here in Orlando? Using your IRA may be a great fit. Read this article to see how…
So let’s dive in!
Putting your money into an IRA or similar investment vehicle can be a great idea.
Everybody knows that.
But with taxes on their way up, it might be an even better idea to create a self-directed IRA, which will allow you to widen your investment options to include local Orlando investment real estate in order to defer your taxes and end up earning a better rate of return in the long run.
If you are considering this option, it might be a good idea to determine if it’s a good move for you, and if it is, here’s how to use your IRA to buy real estate in Orlando.
How to Use Your IRA to Buy Real Estate in Orlando
It is possible to buy an income property with an IRA, but you must open a custodial account then transfer money into it. It’s a simple process that we can help you out with. Just give us a call at (407) 781-7312 and we can walk you through the process. If you are willing to partner with us using your IRA check the appropriate box in our VIP Form.
There are many laws associated with this type of transaction, so be sure you understand and agree to them before you buy. It is also possible to buy a home for the purpose of “flipping” it, but only if you are in the flipping business. An IRA is a better option buying a quick Flip and fix property; otherwise, when you use cash you must pay income taxes based on your yearly income.
Furthermore, there is a limit to the number of flipped properties you can purchase in one year in Orlando with your self-directed IRA.
Again, the best course of action is to determine the rules for the process to make sure you can live with them.
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