Michael Housewert isn't your typical IRA investor. Four years ago, the real estate agent at Charde Group Inc. used $195,000 of the funds in his individual retirement account to purchase a piece of undeveloped land along a sun-washed canal on Marco Island, Fla. He sold the property two months ago for more than three times that amount, tucking a $500,000 profit back into his IRA.
With property values soaring across the country, more and more IRA investors are putting some of their funds directly into real estate instead of just the usual stocks, bonds and mutual funds. Housewert, 58, has put...
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