Are you interested in increasing your real estate investment portfolio? Here are some tips from the experts:
Self-Directed IRA: Start a self-directed IRA or a Real Estate IRA. You can roll over your existing 401K or IRA and make your retirement money work for you now. Under Section 408 of the IRS code your IRA custodian can purchase investment real estate. Take your money out of the poor performing stocks and bonds market and invest in booming real estate. Contact your IRA custodian for more information.
High Limit Credit Card: Use a high limit credit card to purchase a property. You can pay it off at a lower interest rate then traditional mortgages and on your own timeframe. You can also refinance the property at a later date to get a lower rate.
Home Equity Line of Credit: Use a HELOC on your current home to purchase investment properties. The closing costs and interest are considerably less and this type of loan is fairly easy to get with decent credit and decent equity in your own home. You can use this HELOC money to acquire the home, then refinance down the road and roll the proceeds into another home.
1031 Exchange: A real property owner can sell property and then reinvest the proceeds in ownership of like-kind property and defer the capital gains taxes. To qualify as a 1031 like-kind exchange, property exchanges must be done in accordance with the rules set forth in the tax code and in the treasury regulations. 1031 exchange services can offer significant tax advantages to real estate buyers. This process can be facilitated by a 1031 exchange specialist, normally a real estate attorney.