The foreclosure market includes single-family, condo, apartment communities, commercial property, developed lots, raw land and mobile home listings.
If you’re bargain hunting keep in mind to devise a good exit strategy for unloading the property. Remember, your exit strategy is where you get paid, so give plenty of thought to how you are going to get out before you get in.
Often Lot owners don’t realize the financial potential of selling the Lot via seller financing; you can take the Lot off their hands and construct a healthy ROI for your retirement fund.
Click here to get our book on how to make money buying and selling residential lots with your self directed IRA.
Just as in the testimonial that Maria shared, when you buy undeveloped land and resell it you don’t have to deal with tenants and building maintenance. If you buy a Lot in an area that’s expected to experience expanding demand in the years ahead, you’ll be able to garner more when you resell it. You avoid paying the property tax out of your pocket.
Most importantly, you’re able to construct your seller-financed contract to protect your interests while providing your purchaser a viable avenue of ownership.
You’re providing them a buying opportunity even if they are not able to obtain a traditional loan for reasons other than bad credit, such as no credit (because they have never created credit), or they do not want to deal with banks (believe it or not, there is still a sizable population that does not depend on credit lines).
At Asset Exchange Strategies, LLC we have had conversations with potential self-directed IRA clients many thousands of times and the myths continue to live on after 20 years in the business. Some things like Sasquatch or area 51 seem to perpetuate in people’s minds without any substantial evidence the concept is correct or myth. Let’s […]
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