Real Estate IRA Question
Is anyone using their IRA funds to purchase real estate? If so, who are you using to administer the account for you? I have come across several web sites that offer this capability, but am wary of putting my IRA into the hands of people I'm not familiar with. I have a total of about $140,000 in my current IRA, but it is a traditional IRA. Any info or advice will be appreciated.
Thanks,
Alan :-?
Try www trustetc com. They are relatively well known. There is fee based on your balance. Don't open an account with them unless you are sure about it. I opened with them about 1 yr ago. I have not touched my fund and I continue paying the fee. I wish I applied only when I ready to use it.
Alan,
It really depends on what you want a good company who knows how to handle RE in IRA plans and has been doing it for years, or a company who is still trying to be. The companies you looked at on the web probably all of them you never heard of, because they are not your traditional companies, they do uniqe investing. The reason I know all this, plus much more, is that I work for one of those companies that do RE in IRA plans, and have been doing it for over 20 years.
Good luck on your venture