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Self Directed IRA For Real Estate – What Are the Rules in Portland/Salem?

starting your self directed ira for real estate in Portland/Salem OR
IRA may be an outstanding investment tool.. even for real estate! Before you buy your next Portland/Salem investment property… read this article first!

We frequently receive questions from savvy investors we work with here at Nationwide Resources LLC, particularly about purchasing investment properties in Portland/Salem, OR—an area we know extensively.

A common topic is how to finance an investment or rental property. One key question we often hear is, “Can I use my IRA to buy local investment properties?”

Self Directed IRAs for Real Estate – Can You Use Them To Buy Portland/Salem Rental Properties?

An IRA Points to word an individual Retirement Account . Traditionally, IRAs hold investments like stocks and mutual funds, as these are the conventional ways most people save for retirement.

However, since you’re reading this, you likely already know that real estate can be an excellent way to build wealth.

So, how can you use your IRA to grow your retirement fund, while taking advantage of both the tax benefits of the IRA and the opportunities in Portland/Salem real estate?

Although more investors are turning to self-directed IRAs for real estate, it’s crucial to ensure you’re following the rules precisely when using your IRA for real estate investments in Oregon.

Some Basic Rules for Self-Directed IRAs (SDIRAs) in Real Estate

No “Self Dealing”

If you’re using your self-directed IRA for real estate in Portland/Salem, self-dealing is strictly prohibited.

This means your SD IRA cannot purchase land or property—whether residential or commercial—for you or any family member to live in. Additionally, the IRA is not allowed to sell property to the IRA owner or any family member as part of business transactions in Portland/Salem.

The Process of Buying Portland/Salem Real Estate with Your Self-Directed IRA

There are specific rules you must follow when using your SD IRA to purchase properties in Portland/Salem, OR.

Once you’ve submitted the necessary documentation to your self-directed IRA custodian, they will begin the purchasing process on behalf of your IRA.

All expenses related to the property purchase must be paid through the self-directed IRA, making it essential that the account has sufficient funds to cover these costs. If not, you risk losing the tax benefits associated with the IRA and facing penalties.

Choose The Type Of Self Directed IRA Wisely To Use It For Your Real Estate Investments

When it comes to self-directed IRAs, there are plenty of options to choose from.

Not all SD IRAs allow real estate investments, so it’s important to do your research and find the right SD IRA custodians that enable you to invest in Portland/Salem properties.

Note: We’ve partnered with several top SD IRA companies and identified the most experienced providers in handling real estate within an IRA. Give us a call at 503-577-3077 or reach out via our Contact page, and we’ll be happy to share recommendations for the best SD IRA companies specializing in Portland/Salem, OR real estate investments.

Checkbook Control

Self-directed IRAs can vary in the level of restrictions they impose.

For example, some self-directed IRAs require you to submit investment details for their review and approval before they release the funds from the account.

However, some accounts offer what is known as “checkbook control.”

An investor with checkbook control in a self-directed IRA for real estate can make purchases simply by writing checks, avoiding the lengthy process of going through the custodian for approval. This allows you to act quickly on opportunities, which is essential for many of our fast-moving investment properties in Portland/Salem).

Your Role in the Investment After the SD IRA Acquires It

As the owner of a self-directed IRA account, you have the ability to take a hands-on approach in managing the investment. The roles include: receiving checks for rent payments from tenants, managing the properties, etc… everything you’d normally do as the owner of an investment property.

Naturally, there are additional guidelines to follow when using your self-directed IRA for real estate in Portland/Salem. Be sure to do your research and take these two steps right away:

  1. Find a reputable self-directed IRA company or custodian: This is your first step. You have to get this in place before you even think about purchasing anything through your IRA. If your current IRA holder won’t allow you to buy and hold real estate in it… call us at 503-577-3077 and we’ll refer you to the best local custodians… and they’ll be able to help you transfer your current IRA to your new self directed IRA.
  2. Find a couple great Portland/Salem investment property experts, like us at Nationwide Resources LLC.  One of the best ways to get great properties here in Portland/Salem OR is by working with a professional investment property company like ours. We find high discount properties (both single family and multi-family) all around Portland/Salem and sell them to investors like you at discounts so you can turn them into solid profitable rental properties.  Sign Up for Our Preferred Buyers List Here >>

We Can Help You Get Started with Your SD IRA for Real Estate.

Simply give us a call at the number below or send us an email, and we’ll guide you through the process, connect you with the best local SD IRA resources in Portland/Salem, and add you to our Preferred Investment Property Buyers List.

Call Us For More Info On Buying Portland/Salem OR
Real Estate In Your IRA at 503-577-3077

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