Finally somebody has written a decent article about self directed IRA in a mainstream magazine like Fortune. You can read the whole article here - Customize your IRA .
In April during DK Super Conference it was pretty funny to see a room full of really smart entrepreuners act surprised upon learning that they can invest in real estate with their IRA. The Equity Trust owner was doing his presentation and everbody kept on saying that is this legal and how come my CPA / Financial Planner has never said anything about this to me before?
Well off course the CPA's are clueless about how to make money before all they can do is to look and analyze what has already happend in your business. The financial planners have a vested interest in making you buy as many stocks and bonds a possible so why would they tell you and honestly I dont think they really know anything about this to begin with.
Here is another thought to chew if you are trying to get private money in Michigan for real estate investment purposes - all the early buyouts or layoffs from the Big 3 automakers who are walking with substantial 401K can roll over their funds to a self directed IRA and lend you money right off it hence getting tax free returns on their dollars.
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It is great to see self directed IRAs starting to get major coverage. I'm sure this will make raising money for RE ventures much easier.
How is the market in Michigan? We see a huge amount of foreclosures coming out of the state right now.
Can a trust be the owner of an IRA, when you 1st open an account. Please email me thank you.