www.dual3.co.uk

Matt Lahtela

How to use a self-directed IRA with Entrust Carolinas, LLC to Purchase Real Estate

With a self-directed IRA, you can own the property in a variety of ways. Here’s an example on how to use a self-directed IRA to purchase land:

While doing some research, you find a 1-acre lakeview lot for sale for $100,000 in a booming part of North Carolina. In five years, you are certain that the lot will be worth much more than $100,000, and so you decide to purchase the lot.

You look over your finances to see what’s available. You currently have $150,000 in your retirement account.

Here’s a few ways to structure this transaction for your benefit:

1) Purchase the Lot in Cash with your IRA - With $150,000 in your retirement account, the lot could be purchased in full on the day of the closing. Purchasing the lot in this way would mean that there would be no mortgage payments and no debt associated with the lot, and all profits made from the eventual sale of the lot from the real estate would go directly into your IRA account tax-free or tax-deferred, depending on your plan. It’s just that simple. And remember that any expenses pertaining to the property, such as construction work or tax bills, will be paid out of your IRA; leave some cash in your IRA account so the expenses are covered.

2) Partner with Your IRA - A great way to use leverage with your IRA is to partner with yourself; specifically, you can use mortgage loans and IRA money to make a purchase. In the example, the $100,000 lot can be purchased using both your IRA and a mortgage loan. You could use your IRA to put down $30,000 (30%) at closing, and then you, as an individual, acquire a mortgage loan from a bank for the remaining $70,000 (70%). In this type of transaction, partnering with your IRA allows you to put a cash sum down without involving any personal money. When partnering with your IRA, the split of ownership must directly reflect how much each contributes to the purchase price. With the above example (the 70-30% split), the IRA cash is for 30%, and you as an individual contribute 70% via the loan. Of course, this example is just one way in which the split can occur. Any percentage split is permissible so long as it reflects the contribution amounts from each party and equals 100%. Keep in mind that the IRA is not responsible for any loan costs or loan payments. Once the lot is sold, the profits from the sale must also reflect the same percentage split.

The paperwork associated with this transaction is also easy & painless. Essentially, you would complete an Entrust Carolinas LLC application, a fee disclosure & a copy of your driver’s license, and that would create your self-directed IRA. From there, a simple transfer form would move your retirement account from the previous custodian to Entrust Carolinas, LLC (which is a non-taxable event) and along with the Buy Direction Letter and standard closing documents of any real estate transaction, the lakeview lot would be yours.

How would the property be titled? As an example, if the buyer’s names are Bill and Melinda Gates, the contract and deed are made out to Entrust Carolinas, LLC FBO Bill and Melinda Gates. The FBO stands for “For Benefit Of”. The folks at Entrust would actually sign the contract, paperwork, HUD, everything (think of Entrust as a “Power of Attorney” for Bill and Melinda Gates).

How much does this cost to setup? Entrust fees are: One time cost to setup is $50, and cost is $250 per property per year. Very minimal cost. If you own multiple properties, cost per year can be less.

These examples above are for illustration purposes only, and are not to be considered legal or tax advice.

Source of some information: Entrust Carolinas, LLC.

FYI - We just sold a lakefront lot for an investor that he bought in 2005 for $250,000, and sold it for $420,000. In 3 years, the property went up $170,000. Most lakefront properties here average 12-15% return per year. I have a detailed chart showing these results (if you want a copy, we’ll send it to you).

Contact NClakefront Realty at 800-659-6017 for more information

Matt Lahtela - Director of Sales and Marketing at NClakefront Realty. NClakefront Realty is one of the largest sales and marketing companies focusing on North Carolina Lake Properties, and continues to grow everyday. http://www.nclakefront.com/pages/Active-Rain.cfm

Joseph Feross

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Joseph Feross

Per the Fair Reporting Act or FCRA, any consumer is allowed to dispute negative or questionable items found on their credit report. If you are faced with a situation such as this, part of your credit repair would be to write a credit dispute letter to the credit bureaus. The purpose of this letter is for the bureau to verify the item or delete it from the credit report. Writing a credit dispute letter is a good way to fix your credit.

The first thing you need to do is to get a copy of your credit report. You may want to get it from all three credit bureaus. When you find the errors or questionable items, look at the information carefully. If it

Joseph Feross

It

Joseph Feross

This generation has turned into a microwave society. People want things done quickly, and repairing your credit is no exception. People get hyped up by guaranteed claims of repairing credit fast and easy. The truth is that is not the case. There are places called credit repair clinics that claim to be able to remove all negative information from your credit report. They also claim that your can credit can be wiped clean. Of course, there is a catch. You will have to pay a fee and it

Randall Ulbricht

Unless you have a crystal ball or a genie with an unexpired wish, you will be competing with the best (and worst) when you trade in the foreign exchange market. Ever hear the saying risk vs. reward? Well, other than playing naked stock options or open futures contracts, you will be in the fast lane and the risk/reward pertains 100%.

Step One: DO NOT start trading with a live account. Choose a trading account that has a “demo” account. Trust me on this. Let me rephrase, “TRUST ME ON THIS”. Get your feet wet with monopoly money before you use your real money. Do your best to pretend that these monopoly dollars came out of your retirement account and will really hurt you if you loose them. It is REALLY important that you convince yourself of this.

Step Two: Follow Step One until you “feel” that any losses or gains are out of your retirement account. If you are trading and taking risks that you would not with real dollars, how can you believe you would have the same results with real money?

Steps Three thru Ten: Follow Step One.

Step Eleven: This is the golden area where you have achieved “nirvana” you are ready to put your actual retirement funds in play. In Step One, you already selected your FOREX broker. While you were getting your mind right during Steps Two thru Ten, you probably looked at other brokerage companies to see if they could provide better service. I am not going to recommend my favorites, maybe later; do your due diligence. Demo account, no fees, long record, free charts with good options, low expenses, etc.

Steps Twelve through Eight Thousand Four Hundred Thirty Three: Remember the lessons you learned in Step One. I don’t care if you bought a $6000 course like I did. If your course did not teach you Step One, immediately get your money back.

Step 8434: Concentrate on any currency against the United States Dollar. All of the other currencies are really a function of how they are performing against the benchmark, the USD. International reports and news, wave patterns, internal affairs, interest rate swings, etc. affect all currency pairs, but they all are really defined by the USD.

The volatility of the FOREX when the periodic reports for the countries you are trading come out can be huge. This is fine as long as you are not in a trade at the time. Even if you are in a trade and the initial spike is in a favorable direction, there are many times that your order will not get executed before the currency pair swings the other way. Small players are at the mercy of the system. If it sounds like I am speaking from experience, you have guessed correctly. I made out poorly in every instance, mostly from being stopped out on the gyrations.

The service that you select as your broker should provide you with a calendar of upcoming reports and news. This never fully protects you from a major news story hitting the street, but those are relatively rare.

Follow along as we progress through becoming a FOREX trader at FOREX - The Foreign Exchange

Joseph Feross

Many people look for a microwave strategy to get their credit repaired quickly and without a lot of work. True credit repair involves work and time on the part of the individual. They continue to look for a quick fix, because our generation has evolved as such. So, people go and look for companies that can supposedly help them repair their credit.

Credit repair companies have emerged as the all-in-one stop shop for issues related to paying off debts and other bills quickly. They promise people a quick fix in regard to getting rid of negative items from their credit report, resolving credit disputes quickly and improve their credit score. Sadly, these tactics are usually nothing but fluff and then your money is gone.

People know that having good credit can help you get better deals on things like loans, mortgages, cars, credit cards and even offers of employment. Using a credit repair company to help you repair your credit can be a recipe for disaster. They may advertise all of what they claim they can do for you. However, when it comes down to it, you

Joseph Feross

There are so many people that are in debt, they can

Joseph Feross

Nowadays, good credit is crucial for people to have. It can be the difference between getting favorable and shoddy treatment. It can also mean the difference between getting a good interest rate and a not so favorable one. How you handle your credit repair plays a big part when you look to fix your credit. You must analyze what happened to get you to this state of not having good credit and work to fix it. Here are five steps you can do to fix your credit and get it back on track:

Joseph Feross

Part of good credit repair is working to increase your FICO score. Your FICO score is also known as your credit score. It is a three digit number that ranges from 300 to 850, with 850 being the highest. This three digit number is what lenders and employers use to determine if you are creditworthy enough to get a loan, credit cards or offers of employment. There are different levels of FICO scores. The levels characterize what group you belong to according to your score.

If your FICO score is excellent, your score range would be from 750