Quote:
Originally Posted by dahrens1
I'm interested in your experience, can you expand on how you purchased homes here from within your IRA's?
Thanks!
|
Buying real estate with an IRA is a can of worms that most folks aren't equipped to handle, financially or otherwise. Anyone who suggests it's "easy" or that it's a panacea for taxes, doesn't understand it very well.
You do "avoid capital gains", but end up paying taxes as if it were regular earned income when you take distributions. Save now, pay later.
Here's a reasonable explanation of the problems, pitfalls and difficulties of buying rental property with an IRA.
Using Your IRA to Buy Real Estate