Use a Self-Directed IRA to Purchase Investment Property in Mexico
Now is the time to purchase investment property in Rocky Point, Mexico and Laguna Shores has condos, homes, lots and fractional available at great prices. Don’t wait any longer as real estate prices are on the rise and inventory is dwindling as the economy is recovering. If you are considering a real estate purchase in Mexico you can either use a reverse mortgage or a self-directed IRA – the difference being that a self-directed IRA cannot be used for personal use whereas a reverse mortgage can provided it is not your main residence.
If you have money in an IRA and wish to purchase real estate in Rocky Point, Mexico, but don’t want to pay the costly tax penalties you can move to a self-directed IRA. There are a few steps you will need to take (listed below), but the process is fairly simple and you won’t be penalized. Here at Laguna Shores Oceanfront Resort you can purchase a home, condo or fractional share using your self-directed IRA and we can help you support our other owners condos while they support your investment and you get to enjoy our resort at the same time. Simply put, there are other owners who have used self-directed IRAs to purchase property here at Laguna Shores, but cannot use it personally so you use theirs and they use yours and you both win.
Steps you will need to follow to get a self-directed IRA:
- Set up an Unlimited IRA with a registered self-directed IRA custodian who will permit the IRA to participate in non-traditional types of investments, including foreign investments.
- You will transfer your IRA to your new IRA self-directed IRA account.
- Create an LLC (Limited Liability Company) to manage your self-firected IRA. This LLC serves as the investing platform for the retirement plan and will allow true self-direction. The facilitator will customize your LLC making sure it conforms to all IRS rules & regulations. It is crucial that you work with an Experienced Qualified Facilitator to structure the LLC correctly.
- Fund your new LLC. Your facilitator will instruct your new custodian to invest your IRA funds in the LLC. Once this funding has occurred, your self-directed IRA is the actual owner of the LLC, holding almost all of the cash in the LLC checking account. (A tiny portion is normally held in the actual IRA account to cover fees.)
- Invest your LLC Funds. Your IRA, indirectly through the new LLC, is now able to begin purchasing real estate in Mexico. You can now purchase a condo, home, fractional or lot by simply writing out a check or wiring money to an escrow company.
Laguna Shores Oceanfront Resort is located north of Rocky Point, on the Coastal Highway, and is a beautiful master planned active community with condos, custom homes, lots and fractional shares. We can help you get the most out of your investment and self-directed IRA or reverse mortgage. For help or to tour the resort, please give me, Wayne Corcoran, a call today at 480-370-1523 or (800) 513-1523 ext 3. Below are a few resources to help you learn more about a self-directed IRA and they can also help you get started. These companies were recommended by our owners who have used them for their own self-directed IRAs.
Kathryn Rock
Investment Processing Department
Vantage Retirement Plans, LLC
(Handles the Self-Directed IRA)
20860 N Tatum Blvd. #240
Phoenix, AZ 85050
Duffield Adamson & Helenbolt
(Lawyer to help set up LLC and accounts for the IRA)
Foothills Corporate Center
3430 E Sunrise Drive, Suite 200
Tucson, AZ 85778
(520) 792-1181
