Several months ago, I attended a presentation by Saen Higgins at the Learning Annex in New York City.
Mr. Higgins was hawking his “information package” to the tune of $3000. - I didn’t have that kind of spare change.
He did however, talk about two issues that interested me:
He said there were certain financial institutions that would domicile your IRA designated seed money and would allow you to invest it in tax liens. (I’ve also heard Carlton Sheets talk about using an IRA to invest in Real Estate.) Using your IRA as the entity which holds the asset would allow you to grow your money tax deferred to age 65 or whatever the law may be when we turn that ripe old age.
Is anyone doing this? What financial institution do you use?
He also spoke of a government grant which you can get to fund your investments. - This sounded like it might be a little “out there”. Is anyone familiar with this? Or, was he just going overboard on his sales pitch?
Yes, self directed IRA’s are an excellent tool. Most people don’t realize that an IRA can invest in almost anything (not collectibles, coins, or your personal residence, for example) including ownership interests in LLC’s and Corps. The difficulty is, as you know, in finding an administrator that will accept the responsibility and risks involved. Certainly won’t find that at Fidelity!
NGO = non governmental organization. Local nonprofits get CDBGs frequently, United Way, Red Cross, etc.