This is our most common question. At Blue Castle we never touch your money. The process works as such:
1 – A legal entity is set up to manage your account.
2 – The legal entity is the owner of all funds and all real estate purchases.
3 – You fully own the legal entity.
Together we identify a property and your retirement account purchases this property directly. If we need to rehab the property you release funds to us directly from your account to us. The property and checking account are kept 100% in your business name and we have no rights to either.
Funds inside of most retirement accounts are allowed to be used in a variety of investments these include but are not limited to:
- Stock Market
- Real Estate
- Business Purchases
- Raw Land
- Mineral Rights
No. According to the IRS you cannot work on the property yourself, for free or for pay. Any remodeling, repair, improvement, and even maintenance must be performed by a paid third party company at market rate.
Transferring funds into can take anywhere between 1 and 3 weeks.
Purchasing real estate takes 3-6 weeks depending on the property.
Rehabbing takes anywhere from 2 weeks to 4 months depending on the amount of work needing to be done.
It is safe to assume it will take 2-4 months from initial consultation before you have a property making money.