Today I want to talk about a little known strategy for buying probate properties, and that is using your self-direct IRA to buy probate properties. As you probably know, when a property that is part of an estate is in probate, that property must be sold. It must be converted to cash. Once that happens, the assets in the estate will first be used to pay the creditors then the heirs get what’s left. They will finally get what they are inheriting.
Do you think this turns ordinary sellers into motivated sellers? You bet it does.
Real estate investors often don’t know how to come up with the cash to close on these properties. In my state, wholesalers can do a double closing (or simultaneous closing) using your end buyer’s funds, but that’s not the case in every state. Other times, the investor will just assign contact. Either one of these strategies works well for a wholesaler.
What if you Must Actually Close on the Property?
If you are a rehabber or a buy and hold landlord, you’re going to have to close on the deal which means you need cash. Using your self-directed IRA is one of the ways you can do that. And, if you have a Roth Self-Directed IRA, your profits can flow back into your IRA tax-free forever. Think about that for just a minute. This is one of the secrets to building wealth in record time if you are a real estate investor.
Here’s Your Video – Using Your Self-directed IRA to Buy Probate Properties
Equity Trust is a company that I have been familiar with for many years. They are well known and well respected in their field. When I came across one of their videos recently (rather than to try to reinvent the wheel), I decided to share this video and their information so you could learn from the true pros.
Here is just some of what you’ll learn in this video:
- What is a self-directed IRA?
- 3 methods of using your self-directed IRA to buy property: cash buyer, co-investing, and loans (debt financing)
- Why using your self-directed IRA to buy probate properties is such a great idea
- Why these must be non-recourse loans
- Who takes title to the property when you use your self-directed IRA to buy a property?
- Which persons are “disqualified persons” in these transactions?
- What is a Roth self-directed IRA?
- Building wealth fast with a Roth IRA (and why you need one)
- And so much more.
10 Ways to Partner with Your IRA – Freebie from Equity Trust
This is a great resource. You can get your copy by CLICKING HERE…
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