“Retirement Guy” show you how the IRA LLC is really the ONLY way you can invest in Tax Liens with your IRA. The Self Directed Check Book IRA is the answer to the question, “How do I buy tax liens with my IRA?”.
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There are massive profits in tax liens. They can pay 18%, 20%, even in some cases, for example in Illinois, 36% on your money, and it’s protected.
Of course, there’s a lot of money to be made in it, and it’s very secure, because of the property. You can go take a look at the property and as a result, a lot of self-directed IRA investors would like to get their hands on those profits. But unfortunately, a self-directed IRA is just not enough. It’s in this field that the IRA LLC or the Check Book IRA, the advantages of that really, really shine.
Now, that’s really where the Check Book IRA rides to the rescue. It gives you the total flexibility since you are pre-approved
by the custodian within certain guidelines to act, and your money is in a local LLC bank account, where you as the manager have total control.
You can walk in and get a cashier’s check, and if you don’t use it, you can take it back and just redeposit it back into the LLC account. Also, when you get to the tax lien auction, you can make those decisions right then and there. If you get a really good deal, maybe you can run back and get another cashier’s check.
So, you can move quickly. You have incredible flexibility. With the Check Book IRA you can move instantly. No need to hope that it is during business hours and that your request can get pushed to the top of someone’s to-do list, and hopefully it’s not a quarter to 5:00 on a Friday afternoon, and they’re wanting to get out and get back with their family or something and you get pushed to Monday.
Now, what happens if the tax lien isn’t paid? Well, then you get the property. Again, having an IRA LLC gives you the opportunity and the flexibility to manage that property, to either sell it or joint venture with someone or rent it out. You have that ability to do that, and you’re the one that decides and you’re the one that signs the document.
In short, the Check Book IRA, the IRA LLC, is really the only answer to buying those tax liens.