Troy, MI (PressExposure) October 14, 2009 -- A self directed IRA allows you the opportunity to invest in assets other than CDs, stocks or mutual funds. There are many possibilities; you could invest real estate, a franchise or business partnership.
Since the recent stock market downturn, people are pulling out and investing in something tangible, like real estate. Michael McGee, a financial advisor in south east Michigan recently spoke at a real estate investors meeting to explain how one can use their IRA to invest in real estate.
âInvestors can use their self directed IRA for any type of real estate investment including vacant land, commercial property, single-family rentals or apartment buildings,â said McGee. Read Michael McGeeâs complete article at http://financialplanningwaynecounty.blogspot.com/2009/10/self-directed-ira-positive-direction.html
McGee explained some of the requirements of a self directed IRA investing in real estate, âThose who invest in real estate with a self-directed IRA must follow all IRS rules to avoid disqualifying the account and being assessed very high penalties. You cannot invest in a property you already own or one you plan to live in. All expenses related to the property must be paid from the IRA account; all income produced must be deposited to the IRA account.â
Michael McGee provides help with financial planning, self directed IRA, real estate IRA, traditional IRA, Roth IRA, SIMPLE IRA, SEP IRA, 401-K plans, college funding, 529 college savings plan, tax shelter, investment savings, family savings and financial security for consumers and business owners in Wayne County, Detroit, Dearborn, Livonia, Redford, Romulus, Westland, Northville, Plymouth, Canton, Trenton, Taylor and neighboring cities and communities. Learn more at http://wealthbuildingdetroit.blogspot.com/
Contact: Michael S. McGee, MBA Financial Advisor 888 West Big Beaver Suite 850 Troy, MI 48084 248-720-0300 Email: firstname.lastname@example.org This press release was submitted by Right Now Marketing Group, LLC