The recent extension of the $8000 Federal First Time Homebuyers Tax Credit along with the deflation of real estate prices across the country “may bring about an opportunity for those who know how to purchase real estate and have money inside an IRA,” says Josh Moore, President of Truly Self Directed.
The public is beginning to recognize the income potential represented by low-cost real estate and an increasing number of consumers are looking towards the possibility of using a self directed IRA in order to make these investments a part of their retirement strategy.
Self directed IRAs are themselves rapidly becoming more popular with Americans looking nervously at the still unsettled stock market as they plan for
retirement. Especially in the midst of a recession, real estate is looking like a safer bet than stocks or mutual funds; and the returns are typically far higher than those seen with a traditional IRA invested in a CD.
“With housing prices lower than they’ve been in years and the First Time Home Buying Tax Credit being extended until June of next year, this is unique time within the real estate market. There is an enhanced number of willing buyers out there right now, and for those investors who are willing to purchase real estate in their IRA, there’s a lot of potential to capitalize on low home prices and an increased buyer’s pool,” adds Moore.
“A self directed IRA isn’t the right choice for everyone – but then again, neither is a traditional IRA earning next to no returns in CDs. For anyone interested in growing their IRA outside the stock market, now may be an ideal time to look into real estate while the First Time Home Buying Tax Credit is still available,” adds Moore.
About Truly Self Directed:
Truly Self Directed is an Austin, Texas based firm specializing in structuring and managing self directed IRAs, a more flexible alternative to the traditional IRA. For more information about Truly Self Directed and their self directed IRA services, please visit: www.IRALLCPartner.com.