Tuesday, December 4, 2012

Win foreclosure bidding wars

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3 Strategies for Buying Foreclosures with Retirement Accounts 3 Strategies for Buying Foreclosures with
Retirement Accounts

Lorraine Walls and her husband, Richard, bought three foreclosed homes on the same street with money from their IRA accounts. Originally purchased as long-term rental investments, these homes have now almost doubled in value. Other investors leverage their retirement accounts to purchase homes at foreclosure auction or before the auction to help distressed homeowners avoid foreclosure.

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Tapping into a retirement account to purchase real estate allows investors to close quickly and pay cash — either for the full price or for a large down payment. That moves their offers to the front of the line in the foreclosure bidding wars becoming more common in some markets.

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