ArticleZones.com » Finance » Investing » Self-Directed IRA LLC: Investing in Handyman Specials
View PDF | Print View
Article By: SelfDirectedIRAAdvisor
Total views: 14
Word Count: 363
Self-Directed IRA LLC: Investing in Handyman Specials
3 Ways to Maximize Your Self Directed IRA Profits When Buying and Selling Fixer Uppers
Fixer uppers, commonly referred to as handyman specials, are an excellent strategy for maximizing your Self Directed IRA profits. However as with any investment, it is imperative that proper research is done first. Real estate can be one of the safest investments you'll ever make, if you do your homework beforehand and keep the following in mind.
Property Location: Anytime you invest in real estate, this is always the first rule of thumb. Even novice real estate agents will tell you, location should be compromised when investing simply because while you can change what the property looks like, you can't change the surroundings it sits in (at least not in time to recoup your investment).
Another rule of thumb when flipper fixer uppers: Keep the needs, wants and desires of the buyer in mind. Look in neighborhoods where property values are on a steady climb, where buyers want to purchase because the schools are good, where city government is active and present, etc
Renovations: Choose properties that need as little work as possible done on them. This can be tricky however, because some properties show terribly. But, you have to be able to look beyond the nasty toilets and overgrown yards to what a property could be. Many investors lose out on excellent deals because they can't see past the initial abysmal look of an investment property. Cultivate this skill, and you'll pick up deals many overlook.
Cultivate a Relationship with a Rehab Specialist: This will be perhaps the smartest business move you will ever make. This person can look at a property and determine the structural soundness of a potential investment from a non-aesthetic angle (e.g. wiring, plumbing, heating, etc.). If a property is structurally sound and all it needs are cosmetic fixes, it just may be the diamond in the rough to turn your Self Directed IRA investment into a major profit.
Article Source: ArticleZones.com
About the Author
To learn more about how to use your Self Directed IRA LLC to flip properties, contact a self directed IRA advisor. They will be able to handle the administrative tasks associated with setting up your account
Comments
No comments posted.Add Comment
You do not have permission to comment. If you log in, you will be able to comment.More articles in this Category
1. Socially Responsible Investing 101: invest in social good and your portfolio2. Investing with An LLC: Rocky Times for Limited Liability Companies
3. Novice Investor: Stock Trading Basics
4. IRA Setup on Your Own
5. A Guide To The Basics Of Understanding The Stock Market