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RETIREMENT
INVESTMENT
For over 15 years I have invested substantially all
of the money in my company’s Profit Sharing
Plan in mortgages and real estate. Because I am the
Trustee of the Profit Sharing Plan, I am able to
make the decision to choose any investment option
that is legal under the IRS Regulations. Obviously
since I am a big believer in the investment
benefits of Private Mortgages, that’s where
the lion’s share of our Profit Sharing Plan is
invested.
Unfortunately, many people don’t have the
option of being Trustee of their own Profit Sharing
Plan and have therefore, put their retirement money
only into options recommended by their stockbroker
or bank. Fortunately there are options. Anyone can
setup a self directed retirement plan (IRA’s,
Roth IRA, 401(k), etc.). The difficulty is in
finding a Trustee that will give you the latitude
to invest in what you want to invest in. I am happy
to say that there are number of choices of Trustees
for totally self directed retirement plans that
will allow you to invest in real estate or private
mortgages or any other investment allowed by the
IRS regulations.
For those of you who have $100,000 or more in a
retirement plan (remember you can rollover
401(k)’s, IRA’s, and other plans into a
rollover IRA to add up to this amount), I can make
an unqualified recommendation of the Trust
Department of Wells Fargo Bank of Alaska. Several
investors who have bought mortgages from us, have
purchased private mortgages for their retirement
plan using Wells Fargo as their Custodian. If you
have $100,000 that you can combine into one
retirement plan, the person to contact is:
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Sharyn
Andel, Vice President
Institutional Trust Group
P.O. Box 100600
Anchorage, AK 99510-0600
Phone: (907) 265-2989
Fax: (907) 265-2139
E-mail: andelsa@wellsfargo.com
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For those of you
who don’t have $100,000, I know of three other
Trust Companies that allow self directed retirement
plans and are specifically knowledgeable about
investment in real estate and private mortgages.
Although I have no personal experience with any of
these companies, I have personally interviewed
representatives of each and found them all to be
competent, helpful, and flexible. These three
companies and the contact information is as
follows: (They are listed in alphabetical order
with no preference intended by the order of
listing).
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Entrust
Administration Inc.
555 12th Street, Suite 1250
Oakland, CA 94607
Phone: (800) 392-9653
Fax: (510) 587-0960
Website: www.entrustadmin.com
Equity Trust Company (formerly MidOhio
Securities)
36 Lake Avenue
Elyria, OH 44035
Phone: (440) 323-5491
Website: www.trustetc.com
Pensco Trust Company
104 Congress Street, Suite 402
Ports Smith, NH 03801
Phone: (603) 433-2626
Fax: (603) 422-2662
Website: www.PENSCO.com
or
www.SelfDirectedIRA.com
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To determine
which of the above companies can best meets your
needs, I suggest you first check out the websites
(the above addresses are direct links, so just
click on them) and then call one of their
representatives and discuss your situation and then
make a determination as to which company you
prefer.
To learn more about the whole topic of using self
directed retirement funds to invest in real estate
and private mortgages, you may want to consider
reading the new book entitled IRA Wealth - -
Revolutionary IRA Strategies for Real Estate
Investment. The cost of this book is $16.95, plus
shipping, and you can order it on line at
www.IRAresource.com.
If after setting up your self directed IRA, if you
would like to invest in private mortgages and if
you meet our Investor Suitability Standards
(click
here),
and have completed our Mortgage Investment Tutorial
(click
here),
please give us a call at (907) 279-8551.
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