If you’ve ever tried to move money out of a traditional retirement account in order to invest in a self-directed IRA, you’ll learn very quickly that your custodian won’t be too fond of this idea. This happened to today’s first caller, and it happened to me too! This is the first topic I’ll be diving into on this Q&A edition of Investing in Real Estate!
Today, I’m listening to three of your great voicemails! We’re going to discuss topics like moving money out of retirement accounts, selling. a house for cryptocurrency, and buying homes for future investments. Click play to hear my answers to your great questions!
On this episode you’ll learn:
- Why custodians don’t want you to invest in real estate.
- How to sell a home for cryptocurrency.
- What to consider about buying investments for future use.
- And more!
Why Custodians Don’t Want You to Invest in Real Estate
If you move money out of a 401k or other retirement account in order to invest with a self-directed IRA, don’t be surprised if you receive a phone call! These custodians do not want you to move money out of their company, because they make big bucks off of your account!
How to Sell a Home for Cryptocurrency
I’ve personally never done a real estate transaction with cryptocurrency, but I think it’s an interesting idea! Here’s what I’d suggest:
- Check your state laws to make sure this is legal.
- Schedule a call with your CPA to see if there are any tax ramifications you need to prepare for.
- Talk to your title company to discuss the transaction.
What to Consider About Buying Investments for Future Use
One of my main principles of real estate investing is to never invest for speculation or future use. If you’re buying houses you tend to use in the future, please make sure they are strong investments now! Check the ROI, the market, the school districts, and more. If you’re buying a good investment now, it will only get better in the future.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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