Tax Lien Certificates Book
Already finished reading your
portion and really enjoyed it. I'm
going to be making some foreclosure
connections this week as well as
checking on the other deed sales in
nearby counties. I'm starting to
believe this is something that can
really be done and not just
something that people buy books and
classes about.
- M. Wilson |
Self Directed IRA
Self-directed IRAs are
individual retirement accounts
that you control. True
self-directed IRAs allow you to
invest in not only stocks, bonds
and other securities, but also
real estate, notes, tax liens,
tax deeds, mortgages,
partnerships and many other type
of investments.
There are a few
items that you can’t buy through
an IRA and these are included in
IRS publication 590 (http://www.irs.gov/publications/p590/index.html).
In short, you cannot invest your
IRA money in collectibles,
antiques, coins, stamps, life
insurance contracts, metals,
gems and alcoholic beverages.
You are also not allowed to buy,
sell or exchange property or
investments to a disqualified
person, such as a spouse, child,
father, mother or others who are
closely related to you (refer to
Publication 590).
Your IRA was
designed to give you
flexibility; however, it seems
that only brokerage companies
caught on. They control much of
the process and they limit what
you can purchase. After all,
they don’t make any money off of
your purchase of a foreclosure
or a tax lien certificate.
To make a long
story short, you will need to
contact another company that is
setup to handle a true
self-directed IRA. You can find
information from these companies
on rolling over an existing IRA,
qualified retirement plan or
setting up a new IRA account.
Any purchases or sales will need
to be made in the name of the
IRA trust account, unless you
have the IRA invest in an LLC
that you control. Then, you can
truly realize flexibility.
Here are a few IRA Trustees to
contact:
Entrust:
http://www.theentrustgroup.com/
Equity Trust:
http://www.trustetc.com
Pensco:
http://www.pensco.com/
Sterling Trust Company:
http://www.sterling-trust.com
If
you would rather have someone do
it for you, set up your account
and even hook it up to an LLC,
then you will want to contact an
IRA facilitator.
Guidant
Financial Group
http://www.guidantfinancial.com
13228 NE 20th Street, Suite
300
Bellevue, WA 98005
Phone: 888-472-4455 (Customer
Service/Sales)
Fax: 888-418-0374
Email: info@guidantfinancial.com
Remember, you can
setup a traditional IRA and
earnings are deferred until
retirement. You can also setup a
Roth IRA by paying the taxes
upfront. Any earnings in a Roth
IRA are tax free. You do not pay
taxes on the earnings. The sky
is the limit. If you have
children, consider setting up or
rolling over an educational IRA.
If you’ve left an employer and
have a 401(k) plan, you can roll
it over into an IRA.
For small
businesses, you should consider
setting up either a SEP or
SIMPLE plan in addition to your
standard or Roth IRA, then you
can truly recognize the power of
savings and compounded interest.
Also, visit
http://www.selfdirectediraaccounts.com
for more of the latest
information on truly
self-directed IRA accounts.
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Online Course
Tax Sales Book
I recently purchased the Rogue Real
Estate Investor Collection from you
and have been very intrigued by the
information contained within. You
did an excellent job putting
together all of the information.
- B. Heider, California
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