Why should I take the time and energy to learn about IRA investing? by Walter Wofford
Walter Wofford, “the IRA Deal Maker”, will be speaking at the upcoming NoteWorthy Convention in Las Vegas (download the sign-up PDF or register online). He is hosting a workshop entitled The Top Ten Compelling Reasons to Master IRA Investing Today on Friday, October 3rd – admission to his workshop is free with Convention admission.
Why should I take the time and energy to learn about IRA investing? I can barely pay my bill and I can’t sell my wholesale real estate because the banks aren’t lending. Nobody is buying in my town!
Answer: Good question! I will start with why you should take the time to learn . . . Because very few people do! And if you learn the IRA game, you will have a major competitive advantage over everyone in your market.
Why is that so? Because when you learn the language of IRAs, money and opportunity start flowing towards you.
Create cash today! Here is the big picture . . . There are no shortage of buyers in any market, if the financing is provided. Here comes the concept. You can create cash today for you by setting up opportunities for IRA owners plus using and working their money for your own benefit. There is no conflict when you make a fee when you sell an IRA owner a rental house or a discounted note or an option or other money making opportunity.
Self directed IRA monies are sitting in the custodians account not working because folks lack the confidence to initiate a transaction. They know some of the rules but have heard horror stories about IRA getting disqualified because they completed a prohibited transaction plus they are afraid to move forward. Fear is the killer of opportunities! They don’t have the expertise to complete the transaction. It takes effort to learn about the right custodial forms for opening various self-directed accounts. Then, you must master the various letters of direction and payment authorizations as well as the real estate documentation side. The IRA owners lack deal flow. In other words, they cannot source enough transaction for their IRA with their own game. They got no game! And, they haven’t made enough financial friends to accomplish IRA growth. IRA owners need you! And finally, they aren’t prepared to complete a transaction because they haven’t open and funded their IRA account. It takes $50 to open an account and another check to fund it. I promise you will never complete an IRA transaction if you don’t open & fund your account. Test this out.
Ask anyone who has a retirement account – how has your retirement account performed in 2008 so far? Everyone and I mean everyone is sick about their retirement accounts performance. Most are down at least 15%. These same IRA owners might be a candidate to loan you money from their IRA for your real estate purchases earning 7%, interest only, payments on a first mortgage with a 5 year term. Or they might want to loan you rehab money from their IRA to do a joint venture with the house you just bought subject to the existing debt. Or they might want to buy a rental house from you with their IRA funds to keep until the market turns. Or they might want to take an option on one of your retail houses with IRA funds. Or they might want to buy from you for cash and then sell wholesale with seller financing with IRA funds. On all of these examples, there is a potential for a fee for you today!
Creating cash today using other peoples IRAs is a powerful concept to embrace for todays market. Where can you go to learn everything you need to know about IRAs and investing but not everything there is to know? Www.IRAdealmaker.com. Contact: Walter R. Wofford at 601-594-8300 or email him at walterwofford@gmail.com why you should take the time and energy to invest through your IRA by Walter Wofford here is the secret. You can’t do any of the above without learning the IRA game and the custodians are not the best place to learn. The various custodians go out of their way not to give tax or investment advice. So if that is true, who is going to show you the way to IRA investing success?
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