York Pennsylvania PA Real Estate Wholesaler Spills the Beans on Tax FREE Real Estate Investing

Here's something your stock broker or financial planner will never tell you... did you know you can invest in real estate buying homes for sale using cash from your IRA. And get this, you can enjoy the profit from the investment 'tax free' as well.

Here's how it works:

You need to first set up a 'self-directed IRA'. This can be done by rolling over your money from any qualified 401k or Pension plan. The self-directed IRA is then overseen by a custodian which charge varying fees for overseeing your account.

Some common custodians are Trust ETC, Fiserv, and PENSCO which you can look up online easily to find more information. I personally use Trust ETC and am very happy with their service. They charge about $200/year to keep your money parked there and have an amazing customer service team.

Now, if you're using your self-directed IRA to buy and hold rental properties, you will need to find a property manager to manage your properties because the IRS will not legally let you manage the properties yourself. In the eyes of the IRS, you are considered a 'disqualified party'. In addition, you can't rent your property out to disqualified individuals such as yourself, parents, children, spouse, or grandchildren.

All expenses for the management of the property must be paid through your IRA funds. You cannot use any non-IRA funds to manage the property. So, you need to make sure the property you are buying cash flows enough to handle all your management and maintenance needs for the property.

How about the tax free part of it?

Well, this is the best part. Though you are generally restricted about how much you can contribute to your IRA on a yearly basis, the amount of profit your investments in the IRA can make are limitless. To make sure you're enjoying these returns tax free, all you have to do is wait till you're 59 1/2 years old, and you can take the money out tax free! (Please consult your tax professional)

In fact, a few real estate investors in the York PA area I personally know do exactly this to enjoy profits from their real estate investments tax free. (Please consult your tax professional)

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