There are numerous individuals who would love to purchase real estate, but has most of their money may be tied up in Individual Retirement Accounts or 401K Plans. Recently, it was announced that people can purchase real estate with a SEP, Roth, SIMPLE or a traditional IRA. Also, people can use their 401k plan, Health Savings Account and Coverdell Education Savings Account to purchase property, such as debt-financed real estate.
This is great news for people who are interested in investing in some of the hottest real estate areas. For example, while most of the nation was in a real estate slump, Dallas Texas real estate was thriving, as Dallas becomes an international city for the business, finance and technological sectors. Many Dallas Realtors are informing their clients as to how they can purchase debt-financed real estate properties with their IRA account.
Real estate is one of the permitted investments that can be paid for with an IRA, or other type of investment plan. An employee with the Internal Revenue Service comments,
Millennium Trust Company located in Oak Brook, IL, custodies real estate in self directed IRAs and solo 401(k)s. They can educate you on the process. Try contacting Sandra Reese at sreese@mtrustcompany.com for more info.