American IRA Explores for More of the Best Cities for Using a Self-Directed IRA to Invest in Foreclosure Properties
Charlotte, NC (PRWEB) May 20, 2016 -- American IRA CEO Jim Hitt found a recent list by National Real Estate Investor regarding the best places to invest in foreclosure properties lacking, saying that there are plenty more opportunities for Self-Directed IRA investors to find discounted properties that they can then use for rental income.
The strategy typically involves a retirement investor using their Self-Directed IRA in order to purchase property owned after a bank foreclosure. Once the investor is able to bring the property up to code—if need be—they can then rent it out through a property manager and their IRA grows through the funds generated from ongoing rent.
Cities on the National Real Estate Investor list included Milwaukee, Pittsburgh, and Cleveland. Yet Jim Hitt pointed out that there are plenty of other options for anyone considering using the “foreclosure discount” strategy in their own retirement portfolio.
“I agree with many of the markets on the list,” said Jim Hitt. “But there are plenty of other places to look, too. Major metropolitan areas and gateway cities tend to get ignored because of high real estate prices—but they’re perfectly valid selections as well. And here in North Carolina, Charlotte may be one of the top markets for real estate investing.”
Offering his own additions to the list, Jim Hitt recently published a blog post with opinions and offered alternative markets to consider including San Francisco and Charlotte. Jim also pointed out some of the best strategies for finding good foreclosure discounts in otherwise strong real estate markets.
“When you direct your own IRA, you have a lot of options open,” said Jim Hitt. “That’s primarily what investors need to know—not the best cities, but the best strategies for taking charge of their own finances.”
About American IRA, LLC:
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Sean McKay, American IRA, LLC, http://www.americanira.com, +1 (828) 257-4949, [email protected]
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