Can your IRA go International? Yes, you can invest in real estate and other assets outside of the United States with your self-directed IRA.
Many of our clients have expressed interest in diversifying their portfolio by including real estate assets in countries like Panama, Costa Rica and Mexico; just to name a few.
There are three key things to remember when evaluating if real estate investments outside of the U.S. make sense for your IRA:
1. This is investment property.
Just like in this country, you cannot live in a property your IRA buys; it must be used strictly for investment purposes.
2. Every country has different structures when it comes to owning real estate, whether in your IRA or personally.
Work with a knowledgeable provider or advisor of your choice to become intimately familiar with the entity from his perspective. Have him communicate with your IRA administrator throughout the process.
3. Your self-directed IRA should be set up and funded before you go to a country to acquire an investment.
Let us at IRA Innovations help you set up your self-directed IRA. Visit us at www.irainnovations.com to learn more or to contact us for help.