I love being right!
I have been preaching this for years. I watched it happen in the last down cycle and here it comes again. In light of the recent recession and unprecedented number of foreclosures, rentals are in high demand. I think we all know what happens to prices once something is in demand...prices rise. It only makes sense...people have to live somewhere. If they can't buy, they rent.
Here in Park City, rentals are tough to find and not cheap. Especially if you are looking mid-ski season. Good Luck!
Check out this article from Inman News about just that - rental demand on the rise.
Inman News Rentals on the Rise
Are you ready to be a landord in Park City? Make some money on your investment and wait for the equity? Contact me at 435-731-0803 or heather@parkcityhousehunters.com
HEATHER FELDMAN, EQUITY REAL ESTATE LUXURY GROUP PARK CITY 435-731-0803
Showing posts with label IRA alternatives. Show all posts
Showing posts with label IRA alternatives. Show all posts
Tuesday, October 4, 2011
Friday, August 5, 2011
Stock Market Alternatives for your IRA's and 401K's
Stock Market give you a beating in the last few days or over the last few years? There is an alternative for your IRA or 401k money. Buy some income producing property and take control of your future!
By moving your IRA or 401k money to a self-directed IRA, you can hold real estate, tax deeds and many other items. I am only concerned with holding of Real Estate. There are many guidelines to go along with the many benefits.
Here is how it works;
First you choose a self directed IRA administrator like Mountain West IRA to move your money to. No penalties - you are not withdrawing, just rolling over. Next, you identify an income producing or investment property to purchase here in Park City, with me as your Buyer's agent. Vacant land can also be held by a self-directed IRA with the intent that this property will increase in value and someday make you some money. This property can be purchased in full by your self-directed IRA, or there are loans available for certain properties. The loans are non-recourse and are loaned to your IRA based on the income producing history of the property, not your personal credit or income.
Now, you can't buy that ski home for your personal use, the IRS does not allow that type of usage. However, you can buy that ski home or condo for your future financial security. In theory, this income producing property will hold its own and cover most expenses, and hopefully gain in equity as our market recovers. Of course, there is risk involved. If you had your IRA in the stock market and it falters, you are affected. If you have your IRA money in Real Estate and the market falters, you are affected. In both scenarios you are only affected if you need to sell while the market is experiencing a downturn.
There are so many scenarios to explore along with the rules and guidelines, I recommend calling a professional. This is a very simplified summary.
Are you in Park City on August 11th? John Galane of Mountain West IRA will be giving an 8 hour in-depth class about how to hold real estate in a self-directed IRA. See flyer below. I have represented a buyer using Mountain West IRA as their administrator of their sself-directed IRA, and the process was easy. Quite painless. I am happy to answer questions about how that transaction went and how we could find a property for you. Call me at 435-731-0803
By moving your IRA or 401k money to a self-directed IRA, you can hold real estate, tax deeds and many other items. I am only concerned with holding of Real Estate. There are many guidelines to go along with the many benefits.
Here is how it works;
First you choose a self directed IRA administrator like Mountain West IRA to move your money to. No penalties - you are not withdrawing, just rolling over. Next, you identify an income producing or investment property to purchase here in Park City, with me as your Buyer's agent. Vacant land can also be held by a self-directed IRA with the intent that this property will increase in value and someday make you some money. This property can be purchased in full by your self-directed IRA, or there are loans available for certain properties. The loans are non-recourse and are loaned to your IRA based on the income producing history of the property, not your personal credit or income.
Now, you can't buy that ski home for your personal use, the IRS does not allow that type of usage. However, you can buy that ski home or condo for your future financial security. In theory, this income producing property will hold its own and cover most expenses, and hopefully gain in equity as our market recovers. Of course, there is risk involved. If you had your IRA in the stock market and it falters, you are affected. If you have your IRA money in Real Estate and the market falters, you are affected. In both scenarios you are only affected if you need to sell while the market is experiencing a downturn.
There are so many scenarios to explore along with the rules and guidelines, I recommend calling a professional. This is a very simplified summary.
Are you in Park City on August 11th? John Galane of Mountain West IRA will be giving an 8 hour in-depth class about how to hold real estate in a self-directed IRA. See flyer below. I have represented a buyer using Mountain West IRA as their administrator of their sself-directed IRA, and the process was easy. Quite painless. I am happy to answer questions about how that transaction went and how we could find a property for you. Call me at 435-731-0803
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