Where to Get the Money to Do Your Deals Right NOWPosted on January 22, 2012 by
Many years ago when I was just getting started in real estate, I went to a Ron LeGrand seminar. I heard Mr. Ron say that you can open a Roth IRA and buy and sell real estate from it TAX FREE! I came back from that seminar so excited I could not sleep! I went over to talk with my older cousin, who is a long-time and well-respected Certified Financial Planner in this area. I thought, “Surely he will be as excited as I am, because now he can earn his clients much higher returns than they can get in the stock market, and I can use their funds to buy and sell real estate!” I saw it as a win-win-win for all three parties involved. I was going to finally earn the respect of my older, wiser, and wealthier cousin.
That’s not what happened. My cousin promptly told me that you can’t do that–you can’t buy and sell real estate inside a Roth IRA, and that it sounded like a scam and illegal to him. That was a huge disappointment for me, and I went home with my tail between my legs. I began to doubt both what Mr. Ron had taught me, and myself for listening and believing such pie-in-the-sky nonsense. When you are new to real estate, and even as time goes on and you gain experience, sometimes you just don’t know what is fact and what is fiction.
My experience with my cousin set me back a bit, but those of you that know me, know that NOTHING stops me from moving forward in the real estate game. I turned my setback into a comeback, by doing research myself and getting the FACTS, not just someone’s opinion. I since have moved on to know what you can and can’t do with Roth IRA’s, and my business has prospered as a result of not listening to the “they’s” in this world.
When I met Jim Hitt with American IRA, I was struck by his wealth of knowledge, creative ideas, and great enthusiasm for this business. What I also saw was Jim’s true desire for us investors to really understand what we can and cannot do with Roth IRA’s, and how we can use them as a great wealth building tool for both ourselves and our clients and partners. He wants us to succeed in a big way, while showing us what to do to stay “in the bounds” of the legal framework that governs use of these tools.
Come join us at the Cherokee Cattle Company (map) located at 2710 Canton Road in Marietta, GA this Monday night, January 23rd at the West Subgroup of Atlanta REIA, where Jim Hitt will be talking all about Roth IRA’s and what we can do with them. You’ll leave here with a solid understanding of how you can use Roth IRA’s to grow your real estate business and take advantage of the current market, in order to build great wealth for yourself and your family! You can also look like a hero to those that you share this little-known knowledge with, because you can show them how they can earn a higher rate of return, safely and securely, than they are currently getting with CD’s and in the stock market! Don’t do what I did; I went about it all wrong! Come learn as Jim shares with you how to approach people to capture their interest and help you both. Jim will also be sharing with us a boatload of useful tips and tricks, as well as traps to avoid, while navigating and exploring our way through the jungle to wealth.
On Monday night Jim Hitt will dispel these common myths and mysteries about self-directed IRAs and retirement plans:
- Can you borrow from your retirement account? (The common answer is “no.” He will show you how to turn that into a “YES”!)
- Easy steps to raising private capital using your self-directed IRA and retirement plan (YES!)
- Can you partner? (YES! Learn how to partner with yourself and others)
- Using your self-directed IRA to create current income legally (YES!)
- How to leverage your IRA (for leverage is the key to wealth — YES!)
- Turning your Roth IRA into TAX-FREE wealth (OH YES!)
- And much, much more!
Dinner and networking at 6:30 pm, program starts at 7:00 pm sharp, and ends at 9 pm. Late Night Networking immediately following until we close the place down at 10 pm. As a New Year’s Thank You, Atlanta REIA Members can bring a guest for FREE, and Members of other REIAs get FREE admission when they show their membership ID at the door! Guests are just $5. Bring your haves and wants, something to take lots of good notes on, and your appetite. Now that’s a real win-win-win! See you there–Leslie Mathis