Why to Buy Investments in This Booming Area
“Rust belt.” The name conjures all sorts of negative meanings—a formerly-great area that has now gone the way of rust, as if the entire “belt” of the Midwest and Northeast around the Great Lakes isn’t viable anymore. But a recent article at Motley Fool highlighted why this area doesn’t deserve the name. In fact, many cities around the Midwest can be rife with real estate investment opportunities, including Detroit, Cleveland, and Pittsburgh, according to the article.
If you’re using a Self-Directed IRA, you sometimes have to make big, economy-size choices about where you put your money. But for many people in this location, investing in real estate can be a great opportunity to put some money aside for retirement and enjoy what the so-called “Rust Belt” has to offer. Here’s our reaction to the recent article in Motley Fool.
The Advantages of Rust Belt Properties
Motley Fool pointed out that investment opportunities don’t always look like opportunities. But the old adage of “buy low, sell high” means that not every opportunity will have an alarm bell on top of it, announcing to the world that it’s a great opportunity. Motley Fool notes that opportunities to invest in real estate can be difficult to see unless you do your research. That includes looking for low prices of entry, the current interest of investors in the area, whether there is net migration to an area, or amenities nearby, such as green space, water access, and whether the location is a transportation hub.
Keep in mind that if you use a Self-Directed IRA—working with a Self-Directed IRA administration firm as your account custodian—you will be making the decisions yourself. We don’t make specific recommendations as to properties you should buy; instead, as custodian, we carry out the buy and sell orders and handle administrative work. That’s why it’s especially important for Self-Directed IRA investors to do their due diligence with the potential of rust belt properties—or any properties across the United States.
What Towns Did Motley Fool Recommend?
With that said, we can note what Motley Fool recommended in its recent article. One such town is Youngstown, Ohio, which has “one of the lowest prices to entry in the nation,” according to the article. The median price for a home in the United States being around $350,000, the median price of $115,000 in Youngstown was almost startling as a low barrier to entry. This is especially notable for anyone starting out with a Self-Directed IRA in which the funds may be limited.
The post also went through a list of other rust belt options, such as Toledo, OH, Akron, OH, Cleveland, Scranton, PA, and Syracuse, NY. Each of these cities has low prices on median homes, providing ample opportunities for real estate investors who want to get started on the “Ground floor,” so to speak.
Putting it All Together with a Self-Directed IRA
A Self-Directed IRA is a way you can use retirement funds to invest in real estate, freeing up your retirement portfolio in ways you might not have anticipated. And why not consider the full gamut of options available to you when you have that kind of freedom? This article highlights how versatile a Self-Directed IRA can be, giving you the options to make a wide range of real estate investments to generate cash flow and/or appreciation through a retirement account.
Interested in learning more about Self-Directed IRAs? Contact American IRA, LLC at 866-7500-IRA (472) for a free consultation. Download our free guides or visit us online at www.AmericanIRA.com.