American IRA Explores for More of the Best Cities for Using a Self-Directed IRA to Invest in Foreclosure Properties

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After a recent list by National Real Estate Investor regarding the top cities for foreclosure real estate investing, Jim Hitt pointed out that a Self-Directed IRA can mean finding plenty of opportunities—even if investors’ cities don’t find themselves on the list.

American IRA CEO

American IRA CEO, Jim Hitt

When you direct your own IRA, you have a lot of options open. That’s primarily what investors need to know—not the best cities, but the best strategies for taking charge of their own finances.

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:

American IRA is committed to providing every client with gold-level service, regardless of account size. Experience their expertise through their certified IRA services professionals. Enjoy the value with one low annual fee of $285 with unlimited assets and unlimited account values. American IRA clients love the benefit of no charge for "All Cash" accounts. The performance of the American IRA staff is unmatched, with quick and efficient processing within 48 hours.

American IRA services thousands of clients and has over $300 million in assets under administration.

American IRA was built by investors for investors, and brings their successful investment experience to the table, providing excellent educational material showing the public that their self-directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.

American IRA is conveniently located in Asheville, NC and Charlotte, NC, and serves clients nationwide.

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Sean McKay
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