Are you confused about which IRA real estate custodian you should choose to maintain your retirement account? Not sure what to look for in a great IRA real estate custodian? This article will discuss the role of an IRA custodian and how to make sure you find the best custodian possible.First of all, why do you need an IRA custodian? A custodian is responsible for the maintenance of assets and managing and keeping records of all transactions. They basically make sure everything runs smoothly and abides by all federal laws and regulations.If you want to invest in real estate, then you’ll need to find an IRA custodian that allows real estate transactions to be made. And in order to be able to invest in real estate, you need to use a self directed IRA to do so. Self directed IRAs have way more investment options than regular IRAs or 401k plans, and you have sole control over what happens within your account.Basically, an IRA real estate custodian acts under the direction of the account holder. You’ll have to make a few investment decisions each year and explain them to your IRA custodian- and they make sure your decisions are valid and completed. They tend to have to do more work than regular custodians because trades can be conducted at any time throughout the year- which is why they may be more expensive than regular custodians.Be aware that an IRA real estate custodian cannot give you legal or tax advice. They can only provide you with unbiased educational material or refer you to certain tax codes when appropriate. So, you’re ultimately responsible for dealing with any legal issues that may come about.An IRA real estate custodian is also not legally allowed to suggest good deals to a client. However, they can introduce you to advisors who can help find good deals. IRA custodians with a lot of connections and experience can provide you with many benefits than less-known custodians.So how can you find the best IRA real estate custodian? Well, you could research all the different companies that have custodians available and make sure each IRA custodian allows real estate investing, but this could take months to do.I recommend doing it a different (and easier) way. I suggest that you leverage the knowledge and experience of a well-established company that offers IRA real estate investing [http://www.increase-ira-wealth.com] education and guidance- and have them choose the right IRA real estate custodian for you! This way, you can learn what IRA real estate investing entails and be connected with a custodian that knows how the whole process works.Consider these two situations:1) You go and look for a custodian on your own. By doing this, you would most likely land yourself in a situation where you would still have to do most of the legwork. You would have to find the right deals to purchase, make all necessary renovations and repairs, and either find a qualified buyer or act as a landlord if you rent the property out.2) You get introduced to a well-respected company that already knows how IRA real estate investing works. They have a socially conscious investing program set up that fixes up groups of houses in neglected communities as well as the community itself. They already know who the best IRA real estate custodians are and have connections with the right people. They set you up with a qualified custodian, find the properties, make all the necessary repairs, and even find qualified buyers to purchase the property you invest in.Which situation sounds better to you?
Do you want to make sure you have enough money saved up for when you retire? Not sure that how you’re investing now will provide you with a comfortable and enjoyable retirement? Then you should learn more about buying real estate within an IRA account- it can really add a lot to your retirement account’s bottom line. This article will discuss why you should open an IRA for real estate investment and the 5 steps it takes to make huge profits with real estate.When buying real estate within an IRA account, you need to hold your money in a self directed IRA account. A self directed IRA has a few benefits:*You have sole control over what goes on within your account*You have a much larger array of investments to choose from (like real estate) besides your everyday common securities*You get to choose what you want to invest in!Sadly, less than 4% of all IRA owners self direct their accounts. Most people are afraid of self directed their investments, thinking that it will take too much time, effort, and learning to do it all correctly. But, if you spend some quality time in the beginning learning about how buying real estate within an IRA account works, then it’s not nearly asdifficult as you may think.Here is a quick overview of how using an IRA for real estate investment works:1. Locate the right custodians to help manage your account and convert your IRA or rollover your current retirement vehicle into a self directed IRA. Usually, you will not have to pay any fees for doing this.2. Establish a company- specifically, a Limited Liability Company (or LLC). This LLC is created inside your self directed IRA.3. Locate the right real estate deal- one that can be purchased well below the current market rate.4. Make all necessary repairs and renovations to the property and make sure it’s in a livable condition. Note that all expenses involved with this whole process must come out of your IRA account.5. Locate a potential buyer for the property or find tenants that would like to rent it out.After you either find a buyer or a tenant, understand that all the cash flow that comes out of your investment must go right back into your self directed IRA. So you can’t make use of any of the profits now, but all the profits you make with your investment are tax free.THE BAD NEWS:Alright, I’m going to be completely honest with you. You should not go at buying real estate within an IRA account all alone. If you did, you would have to learn all about IRA real estate investing, setting up an LLC, finding the right deals to invest in that can get you a substantial profit (including all taxes and fees that go along with real estate investing), hiring someone to repair and renovate the property, and finding qualified buyers you can trust not to default on the deal.Now THAT sounds like too much work, am I right?THE GOOD NEWS: There are programs out there that help people use an IRA for real estate investment with nearly no effort on their part. I know of one in particular, which provides it’s clients with a “hands-off” approach to buying real estate within an IRA account.How would you like to work with a knowledgeable and well-established company with plenty of investing experience that would hold your hand and walk you through the whole process of buying real estate within an IRA account?How would you feel if this company would set you up with the right custodian, establish an LLC inside your account, find you the best deals to invest in, arrange to make all necessary repairs and renovations to the property, and even find you qualified buyers to take the property off your hands?Buying real estate within an IRA account is sounding easier by the minute, isn’t it?