Is a self-directed IRA for real estate investments a good idea?

I want to take advantage of some hot market prices and invest in real estate using my retirement funds. Has anyone else out there gone through this process before? I've been looking at Guidant Financial & Benetrends.

An IRA is good for any investment.

I know nothing about those companies, but self-directed IRAs are a great concept, in general.

The loans are tough to find, and if you screw something up, you can damage your tax benefits.

Your financing must be non-recourse. Meaning the lender can't come back at you for any losses. So, they can lend on the collateral only. Which usually means higher rates, tougher terms, and don't expect to find anyone willing to do anything without a 30-40% downpayment.

You're still taxed on any gains for the financed portion.

It's not bad, but not as sexy as it sounds once you dig deeper.

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