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I have a friend who is a real estate agent, and one morning he was just sitting in his office when a phone call came in from an elderly gentleman, this elderly gentleman told my friend that he was going to live in another state with his son. He wanted to sell his house as quickly as possible, the price he gave my friend had my friend telling the elderly gent that he was coming over to see his house straight away. He dropped everything and headed straight over to see the house. The house needed some repairs but he thought $35,000 to $40,000 would cover the rehab costs, and he got the elderly gent to sign a contract using his self directed Roth IRA, after the gentleman had signed the contract, he took it straight around to his IRA custodian and directed him to proceed with the documentation. Three days later the elderly gentleman had his money and the house belonged to my friends self directed Roth IRA. The rehabbing of the house using money from his Roth IRA cost $27,000, that made my friend quite happy, and six months later he sold the property for a handsome profit. That also left my friend rubbing his hands with glee. A woman that I had helped and who later became my friend, noticed a large rundown house in the city she lived in. It was rundown, but it was in a good location. She used the knowledge she had picked up at a free seminar, coupled with the knowledge she had of real estate, and tracked down the owners who lived in another city. The owners owed a huge amount of delinquent taxes on the property, and they were glad to sell the property to my friends self directed Roth IRA for a small amount of cash, as long as my friends Roth IRA paid the delinquent taxes. Within six months my friend managed to sell that property. Because the property had debt on it when she bought it, and because her self directed Roth IRA sold the property for a capital gain, her Roth IRA had to pay tax on the property and her profit. However she still made a massive return on her investment, even after paying all the delinquent taxes. She too was very happy with the way things had worked out. I will write about more ways to make money using you IRA again tomorrow. If you are looking for a simpler more TURNKEY approach to real estate investing with your IRA. Go to the url at the foot of this article and from there to my website. There you will find much more information. Gordon Hall is an active participant of a national network of professional writers who advocate socially conscious real estate investing through the use of retirement vehicles such as IRAs, 401Ks and other retirement assets. For more information, or to get involved, please visit the following http://www.double-your-ira.com
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