The Most Elusive & Dangerous Self-Directed IRA Practice – Part 2 November 16, 2010
Posted by Jeff Nabers in : Business Start-Ups, Money, Personal Enjoyment, Personal Productivity, real estate, Self Directed IRA Solo 401k, Small Business Lending , 7comments
In the last post, you learned about how doing an active “entrepreneurship-ish” deal inside your IRA is an open invitation for the IRS to tax the hell out of you.
In this post, you’ll learn the solution.
- The solution is not to avoid doing active deals.
- The solution is not to stop pursuing massive profits or to lock away your talents and skill to be unused.
The solution is to structure both your active entrepreneurship and your passive investment activity in a way that that puts you in the most control. Put another way, avoid giving the IRS an open invitation to tax attack you.
I bet you can guess where this is going (one commenter had a pretty good (more…)
The Most Elusive & Dangerous Self-Directed IRA Practice November 14, 2010
Posted by Jeff Nabers in : Business Start-Ups, Personal Enjoyment, real estate, Self Directed IRA Solo 401k , 11comments
There’s something that most “successful” Self-Directed IRA investors do that can spin them out of control and get them into trouble.
I say “successful” in quotation marks because I’m talking about the particular kind of Self-Directed IRA success that is sexy enough to be frequently written about.
What is this dirty deed that leads to massive profits and the potential implosion the very same Self-Directed IRA that got those profits?
Entrepreneurship.
Bad Entrepreneur!
Yep. Entrepreneurship is so powerful that it seems to be the source of all aggressive wealth creation. So where’s the danger?
Let me explain. Some of the most [initially] profitable Self-Directed IRA stories sounds something like this…
Joe, a Self-Directed IRA investor, knows how to work real estate deals into profits. So he buys and sells real estate in his Self-Directed IRA. Sometimes he involves bank financing. Sometimes he involves private financing and partnering.
But one thing is for sure: Once Joe purchases a property, the work has just begun. He has a system. He only buys properties that meet a certain criteria. After the closing, he usually has repairs and/or remodeling work done.
And his system works. He’ll put $30k or $40k of his Self-Directed IRA money into a deal and get $80k to $100k out, often less than a year or two later.
First, applaud Joe for (more…)
The Next Generation of Small Business Funding September 1, 2009
Posted by Jeff Nabers in : Money, Personal Enjoyment, Personal Productivity , 13comments
Each year entrepreneurs pitch Venture Capital firms in hopes that their startup company or business expansion will get funded by them. The vast majority do not get funded. Furthermore, “getting funding” almost always means the entrepreneur must sell a sizable piece of his company to the VC.
Getting funded by a VC is a dream, but it can easily turn into a nightmare for both the entrepreneur and the VC. Because the VC owns a piece of the company, if further rounds of funding are needed in the future it could mean diluting only the founder’s ownership, depending on how the contracts were setup. It’s not too uncommon for founders to eventually wind up with a minority stake in their own company and to lose control of it. For the VC, there’s a big chance of failure. They usually need an exit strategy, such as taking the company public to sell its shares to the marketplace or to sell the company to a private party. But before they sell it, they need to try to juice up the revenue of the company to max out the sales price. When maxing out revenue becomes the primary unconditional focus, it’s easy for the business to go in a very different direction than the founder had intended.
The above horrors can happen when an entrepreneur does get funding. Let’s not forget that most entrepreneurs seeking capital just don’t get funded.
These are problems. And yet the world has a way about finding solutions to problems and getting them to those who can benefit. Sometimes the solution can be so incredibly simple that it’s hard to believe. In the case of funding a small business, the solution I see is a matter of (more…)
Hiring new liberty-oriented PR specialist immediately! August 18, 2009
Posted by Jeff Nabers in : Money, Personal Enjoyment, Personal Productivity, real estate, Self Directed IRA Solo 401k , add a comment
Our publicist has done a great job getting the word out about Self-Directed IRAs, and my various writings and products related to independence, economics, investing, and freedom.
But, alas, the time has come to replace our publicist. So here’s what we’re looking for:
- Very freedom/liberty-oriented and passionate
- A basic understanding of Austrian economics and the free market
- An unlimited mindset—one that fully accepts that anything is possible and our results are up to us… only we can decide what we CAN and CAN’T accomplish together
- A realistic understanding of our world today and the terrible direction our country and our society is heading in—politically, financially, emotionally, etc. We have to be able to acknowledge and observe the problems in order to be a part of providing solutions.
- Results-oriented. We aren’t just trying to get the word out to see what happens. We are getting the word out! We set goals and then achieve them
- Experience preferred, but not required. If you have experience in public relations, awareness campaigns, or dealing with the media, that is great and will be helpful. Buuuuuut, the above requirements are much more important. The actual procedure of how to promote and make contacts and pitch ideas can be learned. Being a freedom-loving, free-market-loving, truth-knowing, positive-thinking passionate person ready to change the world cannot be learned—it’s just who you are. So that is most important, and for that reason, experience isn’t required, but it is preferred.
- Start immediately!
- Monthly salary. This doesn’t have to be a full-time job, but we will pay a substantial salary.
Be a part of a team that’s changing the world! We’ll be working to promote my book (5 Steps To Freedom) as well as my companies (Nabers Group and IRA Association). Some past exposure and events have included:
- Speaking at FreedomFest
- Writing for Forbes.com
- Contributing to articles for mint.com, realtytimes.com, Entrepreneur Magazine, LA Times, and Chicago Tribune
- Featured in trade journals
- Appearing on TV shows such as Good Morning Arizona and The Pat McMahon show
..these are just a start as we’ll be working together to continue to expose people to self-empowerment, liberty, financial freedom, Austrian economics, and similar ideas.
LIVING IN DENVER IS NOT NECESSARY. We are open to remote working arrangements. If you think you might know somebody who would be great for this position, please share this opportunity, especially on Twitter and Facebook:
Applicants, please send resume to prjob@jnabz.com and include a cover letter summarizing why you think this would be a great fit. I look forward to connecting with our new PR specialist!
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