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 Owning Las Vegas Real Estate With A Self Directed IRA

Using a self-directed IRA can be a great way to start owning Las Vegas real estate as an investment. However, being familiar with the rules and regulations associated with these accounts will prevent you from making expensive mistakes. Here are some helpful tips from a Las Vegas Realtor® that you should consider before you start buying Las Vegas real estate with an IRA account.

* Loans can be hard to find. A loan used in an IRA are required by the IRS to be a non-recourse loan. Basically, the owner of the IRA cannot sign as guarantor on the loan. This will require a minimum of a 40% down payment to acquire the property and possibly 50% or 100% cash always works.

* Do not put a good-faith deposit on a home with your personal check. In the eyes of the law an IRA account and its owner are considered two separate entities. Writing a deposit check from a personal account to secure a home and then transferring the home to the IRA is a no-no. It is best to set up the IRA account first and use that account for the real estate transactions.
* Choose the right Self-Directed IRA account. Various financial firms offer custodian service for their self-directed accounts.  However, it may not be necessary for you to have a custodian. It is important to research the firms and decide which one offers the best account for your needs.
* In the event of a loan, credit does not matter. One of the best things about these accounts is the lack of credit scrutiny.  If you need to finance a home purchase with the IRA account the lender will mostly be concerned with the condition and location of the home. This means your existing credit will not play a part in the loan.
* Custodian signs loan papers, not you.  This is the main sticking point in IRA real estate transactions. Since an IRA is set up to benefit a person, the person cannot sign real estate transactions. The custodian will need to handle the signatures.
Partner with an experienced real estate professional/Las Vegas Realtor® to help guide you through the process of buying a rental home through your IRA account; there are many benefits that I, as your Las Vegas Realtor®/exclusive buyer's agent can bring to the table.
* As a Las Vegas Realtor, I can help you find a home to be used as a rental property. As your exclusive buyer's agent, I can do much more.  Based on current rent information you will be able to see what type of return you should expect on the property and see if it meets your long term real estate goals. I will compare rent levels across multiple areas to see which places have the best return.
* Diversity of portfolio. Stock managers routinely advise their clients to spread their money around multiple accounts. This prevents major losses from having too much tied up in one stock or bond.  As your Las Vegas Realtor/exclusive buyer's agent, I can help you spread your investment across multiple types of rental properties to help you maximize your growth and minimize the loss.
Using a real estate professional/Las Vegas Realtor® that understands the intricacies of a self-directed IRA and one that has experience with buying and selling investment rental properties can make a big difference in how your real estate portfolio performs over the long term. 
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Contact - Call 702-677-8796 Today!

 Linda Strasberg, Las Vegas Realtor, Las Vegas Homes Sales & Real Estate Marketing Specialist

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