Buy Your New Home in Costa Rica in a Self Directed IRA. Free video.
My name is Michael Simons and I’m a professional Realtor here in Playa Hermosa, Guanacaste, Costa Rica. I’ve been a permanent resident of Costa Rica since 2003 and I am a certified licensed Realtor with the Costa Rican Guanacaste Association of Realtors.
Buy Your New Home in Costa Rica in a Self Directed IRA
Many people have a lot of money tied up in their 401(k)s and their retirement. The problem with this is you can’t get to it until a certain age and if you try to take it out early, there are some wild, crazy tax hits that you have to take and yet a lot of people have a lot of money sitting in that entity and want to be able to use it to purchase an investment property.
Well recently, it has been allowed that you can use your 401(k) to roll it into what’s called a self-directed IRA. So you actually are allowed to control where the IRA invests its money.
It’s actually a very simple procedure and does not cost a lot of money. There are hundreds of companies in the United States of America that specialize on self-directed IRAs.
I obviously have worked with a couple. So if you need some more information, I’m glad to put you in touch with those people. But it’s very simple. They take the 401(k) and they roll it into a self-directed IRA and it’s formed into a US LLC.
Then that US LLC is the entity that purchases the property here in Costa Rica. It really is an amazing way to use money that right now you might not be able to get to for the next 5 to 15 years and is just sitting there and if your 401(k) is like most people’s 401(k), it probably isn’t making any money.
So this might be a way for you to get some money that’s sitting there and use it to purchase here in Costa Rica. Think about it. The stock market is at an all-time high. It’s not going to last — it’s just not going to last like that.
So why not take the money out of the stock market? Put it into a self-directed IRA and buy a piece of real estate that is at the bottom and on an upswing and working its way up. Makes sense to me.
Come on down baby!
Buy Your New Home in Costa Rica in a Self Directed IRA. Free video.
Article/Property ID Number 5489
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Andrew Makarik
to@welovecostarica.comAndrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.
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