Checkbook control - The ultimate control over your IRA funds
Thursday, April 10th, 2008What does having checkbook control of your self directed IRA mean?
A Checkbook IRA allows you to have checkbook control of your IRA account. If you’re a real estate investor, you know the expenses can add up quickly and easily.
A few trips to Home Depot, a few calls to your handy man and one simple mistake by an inexperienced contractor means money, money, money – right out of your pocket. Now imagine if you had to get approval every time you needed to cover and expense related to your investment. It can be time-consuming, expensive and downright annoying. This is no way to manage what is arguably the most important asset you have – your IRA account.
Checkbook control of your IRA means being able to buy materials when you need them, not when you can chase down your IRA custodian for a signature. After all, sometimes the best deals are found “on the spot.”
Having checkbook control means you get to manage your self-directed IRA account to maximize your retirement investment.
How Checkbook Control Expands Your Investment Options
Other things checkbook control allows. You can invest in practically any way you want. Following is an abridged list of some of what you can invest in with checkbook control: raw land, tax certifications, auto loans, hard money loans, trust deeds, discounted paper assets, commercial real estate, factoring – and much, much more.