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The FEDS are coming after THOUSANDS of Americans
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What Retirees Should Consider When Choosing an Investing Strategy
Personally, I'm not a big proponent of putting cash into a self-directed IRA to buy rental properties. The best way to set up a self-directed IRA is by using fund that are already allocated for retirement purposes, such as an old 401k or IRA. Here's why: there's a finite amount that you can contribute. The annual contribution limit is $6500, or $7500 if you're 50+. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits At retirement age, I'd consider becoming a real estate professional under the tax code, and continuing to buy rental properties inside your LLC.
The Incentives of Buying Real Estate in the US
The best incentive for buying US real estate from overseas is the potential for returns. US real estate has a lower barrier to entry than other countries like Australia. Because you can pay less for a rental property, you can expect higher returns.
How to Decide If You Should Convert Your Home Into a Rental Property
In my experience, many people want to turn their primary residence into a rental because of their attachment or emotions. Be sure you run your numbers before going this route. It might make more sense to go ahead and sell that home, and buy multiple rental properties that will perform better.
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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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