By William Bronchick, Real Estate Coach & Attorney
What is a real estate IRA?Many websites and companies advertise you can set up a "real estate IRA". Is there such as thing as a real estate IRA for real estate investing?Not really. An IRA is an IRA, and if you choose real estate investing with your IRA, I suppose you can call it a "real estate IRA". But, there's no legal difference between a regular IRA and an IRA that invests in real estate. The IRA custodian you use for your IRA will determine what investment assets they will allow you to direct your IRA funds into, and if they allow real estate as a choice, we generally call that a "self-directed IRA custodian". Again, there's no legal difference in the IRA account, but rather how to invest the funds.If you want to invest in real estate, you don't need a real estate IRA, but rather a custodian that will allow you to invest in real estate. A few custodians we recommend for this include:
- NewdirectionIRA.com
- TrustETC.com
- IRAServices.com
- www.sunwesttrust.com
These custodians will not only allow you to invest in real estate with your IRA but a wide range of non-traditional assets, such as private placements, real estate, precious metals, and much more.One of the services we provide at Bronchick Law is advice and assistance on making sure that your IRA is set up properly. Also in real estate investing, having a good real estate mentor on your team can be very good indeed!
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