Many of you might say: “that’s impossible”. Well, I’ve got news for you, it is possible, legally and you can save yourself a lot of money. Over the years, we’ve had many retirees invest their IRA retirement fund or 401K retirement fund in Beach home or Costa Rica beach condominium, condo in the Central Valley, Single-family home or villa, Raw land for future subdivision development, a vacation rental or Bed & Breakfast, hotel or commercial property as they are all income producing properties and that’s all you need to be able to use your 401K retirement fund or IRA retirement fund without having to pay your taxes on it.
You are looking to buy your retirement home ahead of time, so you get in before Costa Rica becomes too expensive for you? You rent the home owned by your IRA retirement fund or 401K retirement fund until you need it; you might as well save yourselves some tax dollars and take advantage of this possibility if you are a U.S. citizen and have money sitting in your IRA account, receiving very little interest, and use it to purchase your new house as an investment in Costa Rica. There are many advantages to it if you do so, read up on it or ask your GoDutch realtor for more info.
Real estate in Costa Rica owned by my IRA retirement fund or my 401K retirement fund?
Do you know you can buy real estate in Costa Rica through your IRA? Well, you can, through a self directed IRA or a Roth IRA and several other ways. Several IRA and 401K custodians can inform you all about it. Many IRA custodians will tell you that it is illegal to buy real estate in Costa Rica through your IRA retirement fund or your 401K retirement fund, but that is to keep control over your funds. To show you that this is a reality, we can offer you three different custodians we have worked with and who know how to guide you well. On their websites you’ll find all the necessary forms, info, email addresses etc. available to you.
They offer investment workshops and seminars for everyone, from the beginner to the advanced professional. They do not limit your investment choices nor do they give you investment advice. GoDutch Realty has worked many, many real estate transactions through all three of them, and we can assure you an easy, easy flowing relationship with them, so we can close your purchase of Costa Rican properties without any difficulties. Now you can retire in Costa Rica in the future and invest in your future home now.
Do I need a real estate attorney in Costa Rica to be able to use my IRA or 401K?
Yes, you do need a Costa Rican real estate attorney to help you set it up correctly. The rules are constantly changing because of the money laundering laws and terrorism issues, therefore, you need to contact the right real estate attorney in Costa Rica in time and make sure he/she understands the whole process to be followed. The whole closing process has to be adjusted to the IRA or 401K rules and regulations and you do want to make sure you do all the right things.
Purchasing Costa Rica properties with your IRA or 401K is a great option to consider when planning to make a Costa Rican real estate investment, but ask your GoDutch Realty agent to help you set up the right connections.Contact us