6/12/11: The Checkbook IRA – Real Estate Investing Using Your Retirement Account

Bargains, bargains everywhere, but it’s hard to get a loan. Even in the good old days of fast and easy Fannie and Freddie money, it’s always been hard to move quickly or get approved for distressed property.  Of course, you could never get conventional loans for foreclosures, tax liens or discount notes – let alone private placements, precious metals or private loans.  So with the stock market down (again) and conventional money still tight (low interest rates notwithstanding), investors are turning to their self-directed individual retirement accounts and rollover 401ks as a source for funding.

However, if you’ve used your self-directed IRA to invest, you know the process can sometimes be a little clunky.  Your well meaning custodian often has an approval process that can take more time and money than you’re willing to invest.  Sometimes the delays can cost you the deal.

Fortunately, there’s an exciting alternative called a Checkbook IRA.  To learn more, we invited our favorite attorney to grab a microphone and tell us all about it.

In the studio for this compelling foray into the concept of Checkbook IRAs:

  • Host and Senior Vice-President of the First National Bank of Broadcasting, Robert Helms
  • Co-host and Third Fifth Assistant to the Junior Teller’s Assistant, Russell Gray
  • Special Guest, Attorney and Investor Summit at Sea™ Faculty Member, Mauricio Rauld

The Checkbook IRA allows you to act quickly when you see a great deal.  No more paperwork and waiting while your custodian reviews and approves your transaction.  The Checkbook IRA takes a lot of the hassle out of the whole process.

How does it work?  Glad you asked!  That’s the topic of this episode.  The Cliff’s Notes version is that your IRA purchases an LLC that you manage.  Once that’s approved, every subsequent deal is just a matter of writing a check, hence the extremely clever name “Checkbook IRA”.

However, without your friendly neighborhood custodian looking over your shoulder, it’s now your job to know what you can and can’t do.  But not to worry!  If you set it up properly, once you master a few essential concepts (and have your trusty advisory team on speed dial), you can whip out your new tool and stroke a check to jump on that hot deal.

Tune in as attorney Mauricio Rauld explains the ins and outs of the Checkbook IRA!

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