Self Directed IRA Rental Property Investments
*** Our favorite Rental Management Books ***
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Investing in rental properties has its advantages and its disadvantages. Starting with the disadvantages, you have to deal with renters who often do not hold your property in high regard and who will not care for it as you would. Secondly, you usually must spend a portion of your rental proceeds (typically around 10 percent of the total rent for the property) to pay your property management company.
While the disadvantages are real, the advantages usually outweigh them considerably. It is possible for a rental property to pay for itself and return profits to you on a monthly basis. Only in areas where rent control is an issue is there any reason a fully occupied rental might not cover its costs. Even where rent control is an issue, however, there is almost no reason a fully occupied rental property should not regularly return a healthy profit.
All of this assumes that you have chosen to purchase a rental property in an area where people want to live. Real estate is all about location, location, location, after all. Just because something looks like a good deal at first glance does not mean that it is a good deal. You should always do as much research as possible to shield yourself from bad investments and unnecessary risks.
Why a Self-Directed IRA Is Better for Rental Properties Traditional custodians (some do allow rental property purchases) will often charge a fee every time your IRA has to pay a property tax, pay your management company, cut a return of security deposit, or call in a plumber. Over time, these fees can greatly decrease your profits and turn a real winner into a so-so investment. A good self-directed IRA custodian will keep such fees to an absolute minimum.
Written By Scott Janko, The National Association of Financial and Estate Planning (NAFEP)
For more details on the Self Directed IRA go to www.iracentral.com.
Scott Janko is president of The National Association of Financial and Estate Planning. NAFEP is an leader in the self directed retirement planning industry, providing education, training and specialized products to help utilize this unique strategy.
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