Find out how to use your retirement plan to partner on deals.
When we talk about partnering on deals, we’re not just talking about partnering with someone else. How about partnering with yourself?
That’s possible if you set it up the right way. Watch this short video as I show you the best strategies to do so.
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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Using your Individual retirement account (IRA) to partner on real estate deals can be a great way to maximize your investment potential and grow your retirement savings. However, it’s important to understand the best structure for this type of partnership to ensure compliance with IRS regulations and maximize your returns.
The most common structure for using an IRA to partner on deals is through a self-directed IRA. A self-directed IRA allows you to invest in a wide range of assets, including real estate, private equity, and other alternative investments. By setting up a self-directed IRA, you can partner with others to invest in real estate deals and potentially earn a higher return than traditional IRA investments like stocks and bonds.
When partnering on real estate deals with your IRA, it’s important to follow certain rules and guidelines set forth by the IRS to avoid penalties and maintain the tax-deferred status of your retirement account. Here are some key considerations for structuring your IRA partnership:
1. Choose the right partner: When partnering on real estate deals with your IRA, it’s important to choose a partner who is knowledgeable and experienced in real estate investing. Look for partners who have a track record of successfully investing in real estate and understand the risks and rewards of the market.
2. Set up a Limited Liability Company (LLC): One popular structure for IRA partnerships is to set up an LLC to hold the real estate investment. By forming an LLC, you can protect your IRA assets from personal liability and simplify the management of the investment.
3. Determine ownership percentages: When structuring your IRA partnership, you’ll need to decide how ownership will be divided among the partners. This can be based on the amount of capital each partner contributes, the level of involvement in the deal, or other factors agreed upon by the partners.
4. Establish an operating agreement: To formalize the terms of your partnership, it’s important to create an operating agreement that outlines the rights and responsibilities of each partner, as well as how profits and losses will be allocated. This document can help prevent misunderstandings and disputes down the road.
5. Consult with a tax professional: Before entering into a partnership with your IRA, it’s important to consult with a tax professional or financial advisor to ensure compliance with IRS regulations and maximize the tax advantages of your investment. They can help you navigate the complexities of investing with your IRA and provide guidance on the best structure for your partnership.
By using your IRA to partner on real estate deals, you can diversify your retirement portfolio, potentially earn higher returns, and take advantage of the tax benefits of investing through a retirement account. With the right structure and careful planning, you can successfully grow your retirement savings through real estate partnerships.
Clint love the videos! Found you through Pace Morby’s YouTube channel. On your deal structure where you have 1/2 solo 401k and 1/2 yourself owning a part of the separate LLC. Are you allowed to use the property yourself on the half you own personally? Or does that violate prohibitive transaction? Will reach out for a 45 min consult. Thank you! Bill
Can I use funds from an IRA and avoid paying taxes if not repaid to the IRA within one year? My IRA funds are being managed by an investor in the stock market. Love you videos
Clint, love your videos, thanks for sharing them. I heard that I can hold my IRA in a WY LLC and that it would have anonymity and charging order protections. Is that correct? I thought that an IRA has to remain in the name of the individual otherwise it's considered a transfer and is taxed. What is the best way to protect an IRA (in a state without IRA protections) for those of us who don't own a business?
What do you think about the recent story of Peter Thiel’s $5 billion Roth IRA? My wife and I both have Roth IRAs that we haven’t been able to contribute to for the past 10 years because of our income level. I’ve been thinking about making them self directed for real estate. We are spec home builders
So using your IRA and lending it to a LLC to flip properties wouldn't be considered a prohibited transaction and its considered arms lengths. Couldn't it be traced back to you?
How do I schedule a free strategy session with u? Enjoy ur videos a lot
You mentioned a video about using leverage to buy real estate in your IRA. Could you give us a link to that? I scanned your channel and didn't see it right away. Thanks!
Is this possible with a Thrift Savings Plan (TSP)? If not, is there any way to free up that money in such a way that it would be possible?
Hi, do you do California? Thanks.
Great stuff as always
I watched a lot of your videos. To double-check, should I always purchase and refinance in my name and then put the property in my LLC afterward via a land trust?
Real Estate can be so tricky sometimes. I will be contacting you when I am ready to set up my Wyoming LLC.