This article is to explain a little bit about our company, how and why we got started, and what YOU can do to get started. There is a terrible rumor going around that now Romeo Abdo is not the time to get involved in real estate, but I can understand why the rumor got started. With all that is going on with the housing marketing, financial institutions, and government bailouts – why would anyone want to invest there hard earned dollars into such a volatile situation? Well the truth is now is just a good a time as any, if not better, to invest your money in real estate.
Why we got started is simple – Favored Enterprises was formed to assist families wishing to sell their homes quickly, avoid foreclosure and preserve their credit. Our company is part of one of the largest real estate investment groups based here in Prince George’s County Maryland, which can offer various purchasing options, and options for less expensive rental and rent-to-own opportunities to assist families in preserving their credit, getting back on their feet and back into home ownership.
We offer our services to any families in pre-foreclosure status who come to your attention. We can assist families and individuals whose financial status may have changed unexpectedly, are behind in their mortgage payments and want to sell their homes quickly to get out of a stressful situation. Through the investing group, we are in contact with a number of investors who are able to close on home sales quickly and make speedy renovations to prepare the homes for re-sale or rental, thus preserving the integrity of the neighborhoods in which the homes are located. It is even possible for us to assist persons with little or no equity in their homes.
How we got started was by attending a free seminar given by Lloyd & Vicki Irvin, which changed our lives. We are two individuals with IT backgrounds looking to not remain employees. We realized we didn’t want to live from check to check and wanted to provide a great future for ourselves, and our children. We wasted no time to invest in our education and get involved with a prospering real estate group.
If the owner of a self directed Roth IRA invested in real estate, it is possible that he or she could double, triple or even quadruple that investment in a very short period of time. If you are thinking of purchasing real estate in your IRA, read on, there are some things that you need to know.
First of all, as you may know, you must have a self-directed account in order to make investments of this kind. Second, you must choose the right custodian, trustee or broker. Most only offer their clients the option of investing in traditional things like stocks and bonds.
Once you have found the right custodian and have your account set up, you’re ready to go. But wait, do you know anything about real estate investing? Do you know the rules and regulations that relate to IRA real estate investments?
Funds from a self directed Roth IRA invested in real estate, must be for investment purposes only. You cannot buy property for personal use. For example, you and your family can not live in a house that you bought with IRA funds. There are other applicable rules.
In order to be sure that purchasing real estate in your IRA follows the rules; your custodian should be familiar with them. Make sure of that, before you sign up with them. Equity Trust, for example, can give you the details about what investments are and are not allowed by law.