Investors who consider real estate as part of their retirement nest egg are sometimes concerned about these liability issues and the potential of fires, even within a Real Estate IRA.
ATLANTA (PRWEB) October 27, 2017
One of the most devastating things to happen to an investment property is a fire. Not only are fires life-threatening, but they can do a tremendous amount of property damage, which involves the question of liability. Investors who consider real estate as part of their retirement nest egg are sometimes concerned about these liability issues and the potential of fires, even within a Real Estate IRA.
But there are ways to manage risk, according to Jim Hitt of American IRA in North Carolina. In a recent blog post at http://www.AmericanIRA.com, Jim Hitt pointed out that not only is it possible to take out fire insurance for a property within an IRA, but there are ways to maximize the potential for recovery success even after a fire.
According to the tips published by the blog, there is an average of $40,000 per insurance claim after fires. That suggests that not only is a lot of value recouped through these fires, but that the claims themselves become vital in the aftermath of fire damage.
Jim Hitt also argues that there are many other factors in recovery after a fire, such as professional cleanup and inspection, which should not be handled by the property owner directly, who usually does not possess the proper expertise. Many professional clean-up crews who specialize in this kind of clean-up can bring special equipment designed to mitigate the safety hazards.
“The idea of having such a large portion of your retirement nest egg go up in flames is obviously a sore subject for many investors, many of whom are already averse to risk,” said Jim Hitt. “The point with this post was to establish just how well investors can handle an insurance claim when there’s been a fire. With the proper steps taken, a Real Estate IRA can still be just as safe as any other type of investment. Even though there’s risk for any type of investment in retirement, mitigating that risk is easier than many investors might think.”
For more information, visit the blog post at http://www.AmericanIRA.com or call 866-7500-IRA to find out more about the Real Estate IRA.
American IRA, LLC was established in 2004 by James C. Hitt in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Mr. Hitt and his team have grown the company to over $250 million in assets under administration by educating 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.
As a self-directed IRA administrator they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville, NC.