In this Livestream, I will go over how to invest in real estate with a self-directed IRA.
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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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LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
Hi Clint. What if something happens to the custodian you’re with? Like if the custodian went bankrupt or tried to scam you? Are your assets protected? I know traditional IRA providers like Fidelity are SIPC insured. Are these custodians also insured in a similar way? Thanks.
I purchased 4 properties in Jackson Tennessee. All of them need over a $100000 in repair. Most of the houses were Built-in the 1920s and 1930s. I got each house for $15000. Paid cash for all of them 2 years ago. All of the house flippers would invest invest 30 to $50000 in each house turn a quick profit but they were just lipstick on a pig. They would not repair anything they would just make it cosmetically look OK cheapest cabinets it's $500 stove combo.. Large rolls of linoleum on the floor.. Paint the walls and call it good.. I roughly invested a $150000 on each home of my own cash. It has taken about 2 years to get all 4 of them finished I did it very slowly also did most of the work while lumber was high. I now get roughly $1400 of rent per property which is about a 9% return of my money.. You cannot do this in California you cannot do this in Arizona you cannot do this in Nevada.. In the state of Tennessee there is no state income tax. Property tax is only a quarter of a percent. Everyone thought I was crazy to invest so much into each house but each house is brand new. All foundations and floor joists were we're replaced. All windows were replaced all new siding all brand new roof.. Brand new interior doors.. $5000 in cabinets.. Walk in shower in master suite.. 2nd bathroom has double vanity with shower tub combo all tiled walls.. I am able to get premium renters.. When I 1st started building rents were only 750 a month.. Now for a 3 bedroom 2 bath it's it's 1300 to $1800 a month.. I just purchased a duplex that was in distress It was Built-in 2006 needed 25000 in repair and purchased for a $110000.. I get $1100 per side.. I just recently cashed out all of my stocks about 6 months ago into cash I quit Fisher investments now now they have lost pretty much 20% of its value if I stayed in.. Now I have real assets that have passive income.. I will never sell these homes I will just keep generating money from them. I do not Owe the banks any money I am 100% debt free with these properties. Right now I am sitting on about 600000 in cash.. I started what they call a rob's account self directed Ira. A company called guidant financial can help you start your own business with your own 401K money.. I chose real estate investment. You pay no taxes you pay no penalties you just need to be over the age of 55.. Just make sure you document all of your expenditures do not use the money for personal use. The IRS would red flag you severely
Coach Clint!!
In that scenario where there is shared ownership btw the Wy LLC and the IRA because of insufficient funds in the IRA, if I have 100k each in the IRA and my Wy LLC, can I buy two separate properties owned by two separate LLCs (owned jointly by my IRA and Wy LLC) and contribute 50K to each property LLC out of each vehicle so that each (IRA & Wy LLC) now have joint ownership of two separate properties instead of just one. And is it repeatable as long as no new money is entering the IRA in what you referred to as the one shot deal. Some maybe I have 200K in the IRA and I do 50k joint ownership splits across 1 or 2 more properties for a total of 3 or 4.