Posted by daveowensfl On January 19th
There was an interesting article in today’s Wall Street Journal that detailed Presidental hopeful Mitt Romney’s IRA and what he owns in it. Low and behold Mitt has a self-directed IRA. Mitt holds several private and alternative investments. Most notably in his portfolio is a Bain Capital shares or membership interest.
Mr. Romney has a excellent tax planning team that has layered his investments for liability protection and tax sheltering. The article was correct on many key facts. The article pointed out the IRAs that own businesses are subject to UBIT tax. They were not sure if Mr. Romney was paying UBIT becasue of the offshore corporation that was set up for asset protection. I would assume he is not paying UBIT because that is the way the law does not require if if you own an offshore corporation. Read the rest of this entry »
Posted by daveowensfl On October 13th
The old saying goes opportunity is the mother of invention, and it definitely holds true for investors in today’s economy . The bank’s pain can be an investor’s gain. We have seen many IRA investors purchase bank foreclosures or REOs, but there is another opportunity with a large upside available to investors.
Many banks have decided not to hold their troubled debt properties to foreclosure, and have opted to instead sell the note and mortgage as an asset. These troubled debts are usually sold at a deep discount, offering the investor great opportunities. Different scenarios for the investor include restructuring the debt with the borrower, or holding the note to complete the foreclosure process. While this investment strategy is not for the new investor, it can be a smart move if you get professional due diligence on the asset. Read the rest of this entry »
