berniecmps
01-08-2008, 01:30 AM
Anyways, Your self directed IRA can be used for Real Estate,and it can be with any company that you IRA is with, as long as it is self directed. The company I will be using is Entrust since they are one of the first companies that started this. They take care of all the paperwork, they advise you how to have the sales contract written up, and all the little things that need to be done.
An IRA can purchase real estate buy itself without you personally having to qualify for the loan. People here is the amazing part it is totally seperate from you, and acts as a seperate enity of you. There are called Non -Recourse lenders in California there are 10 who will loan money to the IRA without you and your FICO SCORES.http://www.wannanetwork.com/discussion/images/smilies/wink.gif
I just found a whole new niche that is amazing, you can only purchase RE as an investment you can"t live in the property, here is a little catch though. When you turn 59 1/2 and you have the property for 5 years at that time you can move into the property as long as you notify Entrust and fill out the proper paper work CALLED A BUY DIRECTION LETTER.
The total asset protection is this concept your IRA CAN & has to buy the shares of an LLC
Roth 401k is a great strategy as well since there is no income limits, with a Roth for a single person it is 110,000, and married 160,000, and the best part in a Roth 401k there is something called an anti- alienation provision which protects Plan assets from creditors if you have at least one common law employee. This may not apply to an individual (k)
You know what this means we could partner up to buy RE or do what Ryan says and loan out money, the sky is the limit here.
examples what could be purchased
Leases
Gold bullion
contracts of sale
commodities/ future accounts
commercial paper
building bonds
apartment buildings, co ops and condo's
foreign sales of corporation stock
tangible asset deeds
Disallowed investments
any work of art
any rug or antique
any metal or gem other than Palladium, and gold Bullion( there are limits, and fineness)
any stamp or coin
any alcoholic beverage
I wanted to share this information because, most people don't have a clue about this. I would admit I did not know all the details before Saturday. I have heard about it, but did not understand it like I do now.
An IRA can purchase real estate buy itself without you personally having to qualify for the loan. People here is the amazing part it is totally seperate from you, and acts as a seperate enity of you. There are called Non -Recourse lenders in California there are 10 who will loan money to the IRA without you and your FICO SCORES.http://www.wannanetwork.com/discussion/images/smilies/wink.gif
I just found a whole new niche that is amazing, you can only purchase RE as an investment you can"t live in the property, here is a little catch though. When you turn 59 1/2 and you have the property for 5 years at that time you can move into the property as long as you notify Entrust and fill out the proper paper work CALLED A BUY DIRECTION LETTER.
The total asset protection is this concept your IRA CAN & has to buy the shares of an LLC
Roth 401k is a great strategy as well since there is no income limits, with a Roth for a single person it is 110,000, and married 160,000, and the best part in a Roth 401k there is something called an anti- alienation provision which protects Plan assets from creditors if you have at least one common law employee. This may not apply to an individual (k)
You know what this means we could partner up to buy RE or do what Ryan says and loan out money, the sky is the limit here.
examples what could be purchased
Leases
Gold bullion
contracts of sale
commodities/ future accounts
commercial paper
building bonds
apartment buildings, co ops and condo's
foreign sales of corporation stock
tangible asset deeds
Disallowed investments
any work of art
any rug or antique
any metal or gem other than Palladium, and gold Bullion( there are limits, and fineness)
any stamp or coin
any alcoholic beverage
I wanted to share this information because, most people don't have a clue about this. I would admit I did not know all the details before Saturday. I have heard about it, but did not understand it like I do now.