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Self-Directed IRAs: Establishing an Investment Strategy

May 15, 2008
Checkbook IRA accounts, also called self-directed IRA accounts, provide many options for account holders to increase their portfolio value through investing in real estate. As real estate investing is the number one way to make money in the U.S., it's no wonder that many want to capitalize on this.

For all of the opportunity that the checkbook IRA presents, it can be a confusing, discombobulating journey for many. However, asking and answering a few questions can easily help you determine a sound investment strategy for which to use your self-direct IRA account funds.

Self-Directed IRAs: 3 Real Estate Investment Strategy Questions to Ask

What type of investor am I? Are you a risk taker, very conservative, somewhere in the middle? Before tapping your self-direct IRA funds to invest in real estate, you need to know what your risk compass is. This will guide you in selecting which type of real estate investment you want to make.

How Far Off is Retirement? Becoming crystal clear about this question will help you decide what type of real estate deals you want to invest your checkbook IRA funds in. You might consider investing in properties to rent, for example, instead of going for the quicker return of buying, renovating and flipping properties.

What type of income do I want/need during retirement? Many don't actually sit down and calculate the numbers to see how much they're going to need overall to support a retirement lifestyle that may last 20, 25 or 30 years or more. The answer to this question will in essence tell you what can and should invest in to get the biggest and safest return on your investment.

These are just three of the questions you will need to ask and answer before settling on an investment strategy for your checkbook IRA account. Albeit, they are three of the most important.
About the Author
For someone new to a IRA LLC, engaging the services of an advisor, who is versed with self-directed IRA real estate accounts makes sense. An IRA advisor will have the expertise to deal with the administrative paper work and help you avoid investment pitfalls.
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