With IRA Financial Group’s Special Purpose IRA LLC Solution, buying real estate is as simple as writing a check and is tax-free
Miami, FL (PRWEB) February 01, 2013
IRA Financial Group, the leading provider of Self-Directed IRA LLC Solutions, introduces the Special Purpose IRA LLC, a self-directed retirement solution for purchasing real estate tax-free.
The Special Purpose IRA LLC Solution offers one the ability to use his or her retirement funds to make almost any type of investment on their own without requiring the consent of any custodian or person, including real estate. The IRS has always permitted an IRA to purchase real estate, which could be flipped for profit or used as a rental property.
“With IRA Financial Group’s Special Purpose IRA LLC Solution, buying real estate is as simple as writing a check and is tax-free,” stated Adam Bergman, a tax attorney with the IRA Financial Group. “As the manager of your IRA LLC, the IRA holder will have control over his or her IRA funds so a real estate purchase can be made by simply writing a check,” Mr. Bergman added.
One major advantage of buying real estate with retirement funds is that any profit realized from flipping the property or any rental income generated by the property is tax-deferred until a distribution is taken (Traditional IRA distributions are not required until the IRA owner turns 70 and 1/2). In the case of a Self-Directed Roth IRA LLC, all gains are tax-free.
Unlike a conventional IRA, which requires custodian consent and requires high custodian fees, a Special Purpose IRA LLC with “Checkbook Control” will allow one to buy real estate, including rental properties, by simply writing a check. With a Self-Directed IRA, one will have total control to make a real estate purchase, pay for improvements, and then sell the property without ever talking to the IRA custodian. Since all the IRA funds will be held at a local bank in the name of the Special Purpose IRA LLC, all one would need to do to engage in a house flipping transaction is write a check straight from the IRA LLC account or simply wire the funds from the Special Purpose IRA LLC bank account. With IRA Financial Group’s Special Purpose IRA LLC Solution, no longer would one need to ask the IRA custodian for permission or have the IRA custodian sign the real estate transaction documents. Instead, with a “Checkbook Control” IRA, as manager of the IRA LLC, the IRA holder will be able to buy real estate simply by writing a check.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market's leading “Checkbook Control” Self-Directed IRA Facilitator. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate, without custodian consent.
To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.