Dmitriy Fomichenko is the founder and president of Sense Financial Services LLC, a boutique financial firm specializing in self-directed retirement accounts with checkbook control. He began his career in financial planning and real estate investing in 2000. He owns multiple investment properties in various states and is a licensed California Real Estate Broker. Over the years, he has taught hundreds of investment and financial planning seminars and has mentored thousands of investors….(read more)
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In the latest podcast episode, Dmitriy Fomichenko delves into the world of self-directed IRAs and how they can be used to invest in real estate. Fomichenko is an expert in the field of self-directed retirement accounts and has helped countless individuals take control of their retirement savings by investing in alternative assets such as real estate.
Self-directed IRAs offer investors the opportunity to invest in a wide range of assets beyond the traditional stocks, bonds, and mutual funds offered by most financial institutions. By using a self-directed IRA, investors can take advantage of the tax benefits of a retirement account while diversifying their investment portfolio with real estate, precious metals, private equity, and more.
One of the key advantages of investing in real estate through a self-directed IRA is the potential for high returns. Real estate has historically been a solid investment with the potential for long-term appreciation and rental income. By using a self-directed IRA, investors can leverage their retirement savings to purchase rental properties, commercial real estate, or even private mortgage loans.
However, investing in real estate through a self-directed IRA comes with certain rules and restrictions that investors must be aware of. For example, all income and expenses related to the real estate investment must flow through the self-directed IRA, and any profits from the investment must be reinvested within the account. Additionally, there are strict rules regarding prohibited transactions, such as using the property for personal use or selling it to a disqualified person.
Despite these rules, self-directed IRAs offer investors a unique opportunity to take control of their retirement savings and build a diversified portfolio of alternative assets. By working with a knowledgeable advisor like Dmitriy Fomichenko, investors can navigate the complexities of self-directed IRAs and make informed decisions about their real estate investments.
Overall, investing in real estate through a self-directed IRA can be a powerful tool for building wealth and securing a comfortable retirement. By taking advantage of the tax benefits and potential for high returns that real estate offers, investors can grow their retirement savings and achieve their long-term financial goals. With the guidance of experts like Dmitriy Fomichenko, investors can unlock the full potential of their self-directed IRA and take control of their financial future.
DOPE Real Estate Investing Content! Thanks for this!