Real estate IRAs offer unique opportunities for account owners to use their own knowledge and expertise to grow income for retirement. Anyone in any profession can put their experience to work by investing what they know best. For realtors, understanding and using real estate IRAs offers two fantastic opportunities: Realtors themselves can use these accounts as powerful investing tools to build their own retirement wealth. They can also use this knowledge as a business-building resource.
Why Use a Real Estate IRA?
If you are a realtor, you are personally invested in your career, and in most cases, you are your own boss. More than likely, there is no employer-sponsored retirement plan and no company insurance plan. This means you’re completely in charge of your life and future.
You probably have a good handle on your day-to-day finances. But, what are you doing for retirement? Are you in control of that aspect of your life? This is critical if you want to comfortably retire. You may not know that you can open a self-directed IRA or similar retirement plan to secure the future you desire upon retirement.
Since you are an expert in your field, why not invest in what you know best? And, that would be real estate, which is the most popular asset held in self-directed plans—hence the term “real estate IRA.” You can use self-directed retirement funds to invest in residential and commercial property, private lending options (mortgages), rentals, rehabs, tax liens and deeds—and much more.
Understanding and using real estate IRAs could become an essential part of your own life plan, and can also help you become a valuable resource for clients and potential clients who are investors.
Understanding and Using Real Estate IRAs can Help Build Your Business
Gaining an entirely new client base adds the benefit of extra commissions—and extra money you can contribute to your retirement plan.
Providing educational information about market trends, properties, and opportunities to clients is already part of your job. Understanding and using real estate IRAs provides a value-added benefit of expertise in real estate investing. This opens the door to a conversation with clients about thinking outside of the box. Especially clients who are investors. They may not even know they can invest in real estate using retirement funds, either. So, the more you know about real estate IRAs and the investing options these accounts present, the more in demand you will become.
You are working for yourself. You have big goals and big dreams. Your approach and willingness to become an expert in your field will be the determining factor for your future success, both personally and professionally. The future is always unpredictable, but you can take steps today to prepare for it today.
If you have questions, contact Midland IRA at 239-333-1032.