Brock Realty Inc.
The real estate you buy must be a business property, not a personal residence, second home or occasional rental. Also, you canâ€™t use your IRA to buy a property you already own; it has to be a new purchase directly into the IRA.
If you wanted to buy a rental property, you would open an IRA custodial account, transfer cash from an existing IRA account â€” or possibly 401(k) â€” into the custodial account and then purchase real estate under the IRA account name. Very specific rules outline what you can and cannot do in funding and managing the investment, so make sure to get good advice on those rules.
You can also buy and sell real estate in a self-directed IRA if you are in the flipping business, but there are limits on how many you can do per year. The profits on any transaction would be tax-deferred or tax-free and allow your IRA to continue to grow with those tax advantages.
The short-sale home at 20771 Great Laurel Avenue in Live Oak Preserve went under contract on January 16 and is expected to close on February 8, 2013 - amazingly quick for a short-sale closing.
Check out these other REO listings in Live Oak Preserve and nearby neighborhoods:
With kind regards,
Lisa L. Lowe , e-PROÂ® REALTORÂ®
Professional Buyers Consultant
Tampa Suncoast Realty, Inc. â€“ Luxury Real Estate Division
15310 Amberly Drive | Tampa Palms, FLORIDA 33647
If you would like to "search like a Realtor", ask your agent to give you a Listingbook account. It will instantly reveal if a property is actually available rather than "active with contract". Many websites will not distinguish between "active" properties and those that are already gone, "active with contract".
Also it will show the fees. This property pays high fees:
$1,263 "extra" CDD property taxes
$1,689 annual HOA fees
For almost $3k in fees per year you could fund a Roth IRA and possibly be a millionaire when you retire!
If you're not yet working with a Realtor, you're welcome to sign up for a free Listingbook account on my website: http://www.SoldOnTampa.com
All the best,
Alma Rose Kee
This property is currently under a contract. It is no longer available for showings or purchase. Are you looking for a new home or an investment property? I would be happy to help you find the perfect home to suit your needs and your budget. If I can answer any questions directly for you, please don't hesitate to review my profile on Trulia and email me at THoyt@prutropical.com.
Prudential Tropicl Realty.
Thank you and I hope this helps!