June 13, 2012
Peter Buell, Tax & Business Services Partner, Quoted in the LIBN.com Article "Buying Real Estate Using Your IRA Risky"
Long Island Business News
By Bernadette Starzee
Excerpt:
You can use your IRA to invest in real estate, thanks to a little-known provision in the IRS code. But that doesn’t mean you should.
With real estate values bottoming out and the tight credit market continuing, a small but growing number of investors are using their IRA to purchase real estate. Though the liquidity of this asset may be tempting, there are so many disadvantages and risks involved, that it isn’t a wise or even a viable option for most investors.
