If you’re nervous about how the stock market will perform in the future and thinking about alternative investments, consider purchasing an investment property here in Sarasota. Condos, villas, single-family homes…all of these are available and make great rentals if you know where to look and are mindful of the rental restrictions in the various areas of Sarasota, Bradenton and Lakewood Ranch.
Did you know you can use your IRA to buy investment properties? It’s true. You can convert your IRA to a self-directed IRA through one of many different companies (Advanta IRA is one…Equity Trust is another…I’m sure there are many others). Then use those funds to purchase income-producing property. I personally did it recently and it was easier than I thought.
There are some strict rules you have to follow to keep the IRS happy but it can be done. As you charge rent for those properties, the money goes directly back into your IRA and grows tax-deferred. Talk to your accountant, or, if you need a recommendation please let me know.
Go ahead, Google Advanta IRA and Equity Trust and learn all about it! Or, call me and I’ll tell you how I did it!