Self-directed retirement accounts have gained popularity over the years. This is mostly due to the fact that investors are wanting more freedom when choosing investments. One of the more popular investments with these retirement accounts is real estate.
Real estate can be a good long-term investment and generate high returns for investors. With a Mountain West IRA self-directed plan, investors can choose from many real estate options. These include single-family homes, multifamily-units, apartment buildings, condominiums, improved or unimproved land, commercial property and more.
When thinking about investing in real estate through a self-directed IRA, there are some things to consider:
It can be a process. Often, opening an account can take some time. A rollover might be necessary to start the account. Then, the real estate investment must be approved, which can also take a decent amount of time.
Funds aren’t for immediate use. When the investment yields funds, there are some restrictions on how they are used. There are also restrictions on who can occupy the real estate.
It can be taxing. When investing in real estate, it can be a good decision to hire a property management company. This takes a lot of the stress off the investor’s shoulders. All of the expenses for the property will also be taken from the IRA funds.
Although this may make it sound a little daunting to invest in real estate with an IRA, the professionals at Mountain West IRA can answer questions and guide investors through the process. Self-directed retirement accounts offer a wide variety of investment options and are a great tool for investors who want more control over their retirement.