Gordon Moss and Jack Shea explain checkbook control IRAs, which let you invest directly in real estate and alternative assets through a self-directed trust. Jack claims fewer than 10% of people use this method and says investors can potentially double their IRA annually. The setup requires an independent custodian and outside trustee with signing authority.
Questions this video answers
March 22, 2012.
Aspen, Colorado (Snowmass Real Estate Seminar).
Clearwater, Florida.
"Less than 10% of people" (as stated in the talk).
People "should be able to double their IRA every year" (as stated in the talk).
Chapters
Hello, this is Gordon Moss. I'm currently in Aspen, Colorado, at the Snowmass Real Estate Seminar with some of my really good friends from across the country. Behind us is a beautiful mountain range. It's a nice day, it's been snowing. We had five great days of skiing. Next to me is my good friend and associate, Jack Shea. Introduce yourself, Jack.
Jack Shea, Clearwater, Florida.
Okay. Today we're going to talk about a specific topic in the real estate investing business that we have been doing for several years. Myself for several years, Jack, for over 30 years. And it's basically the IRA checkbook control. And once again, myself, for the last two years, I've gone ahead and taken control of my IRA with my checkbook. And it's given me a lot of advantages. You know, a lot of deals come through quickly, and somebody might say to you, hey, Gordon, would you like to be part of this deal? And I'll say, yes. I'll say, well, we need the money now. This way I can use my checkbook control of my IRA to be in those kind of deals. It gives me a lot of power. So it's been a real strong, powerful tool for me. And I know Jack knows a lot more about it than I do. So let me turn it over to Jack. Yeah.
Gordon. Most of these topics I've been using, that one is about. We've been using about 10 years since the IR came in. And it's very powerful. I've been doing it, helping a lot of friends do it. But I thought there's more people that should be able to use this, especially real estate investors. That less than 10% of people have control of their own IRA. The custodians don't form it for people. They can't practice law. So it's a situation that you can set up yourself. And we show you how we have the documents and the procedures. But wherever the funds are, you put them in independent IRA custodian, and then you invest. Have that custodian invest in an outside trust where you have a trustee that signs the checks. And on a weekday evening or a Saturday or a Sunday, you're able to make a deal immediately or make a loan, do anything you want. And my goal and my objective with people in these classes is that people should be able to double their IRA every year with techniques that are available to investors. And the most powerful is options. And we'll talk about options at another time. Real estate contracts. I buy tax returns from people buy realtors, commissions. Friends of mine buy receivables from tradesmen. They do wrap around mortgages, loans, car paper, mobile home paper. A lot of opportunities pass under investors eyes and they should be able to capitalize them and you could do the same. We can go on in this class about tax deeds and many things in your town that you know about. And if stimulated enough, you can put to work. And this information is available on jackshayrealestate.com website. And we've been doing it, Gordon, and I thousand other people. You should do it too.
I recall Jack, when you first showed me this about three or four years ago and I actually lost sleep that night, it kind of haunted me. You said, you should double your IRA every year. Double your IRA every year. And I said, how am I gonna do that? And I figured out some ways. But once Again, most people's IRAs are sitting there not doing much. And this is a way to take control and get the kind of returns that you're looking for with a lot of the creative strategies that Jack has. But the start of it is to take control of your IRA through the checkbook method.
