House Flipping With an IRA
How do you get into house flipping? Consider using your IRA as an investment source.
Your IRA can purchase a revenue-generating asset and quickly resell it for profit. The cosmetic improvements made to a property and the appreciation can result great venue. If you are ready to get into house flipping, you’re in the right place:
Need to Know House Flipping Investment Guidance:
- You cannot use the property for personal reasons.
- All expenses associated with the investment must be paid using the funds in your IRA account. All revenue must go back to the IRA account. All property expenses, including taxes, insurance, and repairs must be paid from funds in your Self Directed IRA.
- You cannot perform physical work on the property.
- The investment is made by the IRA – not you. Remember to title the investment correctly.
- Consider allocation of your commitment, cost, and time.
- The purchase should not constitute a prohibited transaction.
Remember, Before You Get Into House Flipping:
An IRA Club Self Directed IRA may make almost any investment for your future. The IRA Club provides our members with a no cost review to help you avoid making one of the few prohibited transactions.