Using Your IRA to Partner on Deals (Best Structure)
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- Опубліковано 26 лис 2024
- 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.
#ira #partner #realestate
Real Estate can be so tricky sometimes. I will be contacting you when I am ready to set up my Wyoming LLC.
Please do!
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!
Here you go: ua-cam.com/video/qaWr7CxWLxg/v-deo.html
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?
You can not and that would blow your IRA. The only way to protect your IRA from personal creditors is to move to a state that provides the protection.
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
No and you must repay your IRA within 60 days to avoid taxation. If the investment is made within the IRA then you will not be taxed until you withdraw the funds.
Clint love the videos! Found you through Pace Morby’s UA-cam 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
Correct this would be a PT. You can not use the property.
Great stuff as always
Glad you enjoyed it
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
The only issue with building spec with an IRA is the tax on your profits inside of the IRA. In your situation you could get classified as a dealer (your ROTH IRA) and your IRA would pay roughly 37% income taxes on its profits. You could cut the tax to 20% if you used an LLC taxed as a Corporation then made distributions to the ROTH.
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?
If you lend it to your own LLC it is a prohibited transaction or if you loan it to a disqualified party. Is there a particular point in the video you are referring to?
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?
You would need to role out of the TSP to do what I am describing.
How do I schedule a free strategy session with u? Enjoy ur videos a lot
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
Hi, do you do California? Thanks.
Yes we do
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?
Yes if it is residential
Ok. That's right...Thank you.