Can I Invest In Tax Liens With Money From My Retirement Account?

Posted on May 10, 2011 by Debby

Here’s a question that I get often: “Can I invest in tax liens with money from my retirement account?”

The answer to this question is yes, if you have a self-directed IRA or solo 401(k). But what is a self-directed IRA or Solo 401(k) and how can you tell if your retirement plan is self-directed?

A self-directed IRA is an IRA account – it could be a traditional IRA or SEP IRA, or Roth IRA, that lets you direct where the money is invested. The bad news is that many brokerage houses say that their account is self-directed, but they don’t let you invest in anything that they don’t sell – this is not a true self-directed account. A real self-directed retirement account is held by a custodian that doesn’t sell any investments. They can offer you education about different investment opportunities that you can participate in with your IRA, but they are not legally allowed to sell you the investment. Continue reading →

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Are You A Quitter?

Posted on May 9, 2011 by Joanne

Here’s some Monday Motivation from my friend Arnfried Klein-Werner of Be Motivated Today:

Success is all about perseverance – not giving up, doing your best, keeping at it – when you would rather quit and rid yourself of the whole ‘mess’.

But when we quit, we can forget about achieving the goal we are working towards. It’s like running a long-distance race – a marathon. At the start, you feel strong and full of enthusiasm, but as the miles take their toll on your energy reserves, you think to yourself, ‘Why am I doing this? This is tough!’ If you decide to quit you are immediately out of the race. It’s over for you. There is no committee that sits down at the end and decides whether or not you should still get a medal. No one says: ‘Ah shame! S/he tried so hard in the beginning, can’t we just give it to him/her?’. No! There is no vote. Continue reading →

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Guest Article: Tax Liens On a Budget by Dustin Hahn

Posted on May 6, 2011 by Joanne

Here’s another great article from my friend and colleague, tax lien investing expert, Dustin Hahn.

Like Dustin, I’ve had a few subscribers ask me how they can get started with only $300. Dustin had a great article that tells you just how you can start with as little as $300 and I’d thought that I’d pass it along to you.

How You Can Do Tax Liens On A Budget
by Dustin Hahn

It doesn’t matter if you have $500,000 or $50 you can easily start building your tax lien empire today. The most important detail is that you start NOW. This is truly the best time in history to get into this business. There are more great deals to be picked up than ever before because of the poor economy. Guess what? Economies always bounce back and ours is about to. That means those tax liens or deeds you pick up for a few hundred bucks are going to be worth 10x to 50x what you paid for them. Continue reading →

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Florida Online Tax Lien Sales

Posted on May 4, 2011 by Joanne

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May is the time for the Florida tax lien sales.

Unlike the Florida deed sales which happen throughout the year, the tax liens sales only happen once a year for each county. But here?s the advantage to the tax liens sales in Florida ? most of them are online. Unlike other states that have online tax lien sales where only a handful of the counties have their tax sales online, almost all of the Florida counties are online. Attending a lot of live tax sales in different counties can be very challenging when they are on the same day and time. But with online tax sales, it?s a little easier because you can put your bids in a head of time. You just need to have a separate budget for each tax sale. Continue reading →

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Here’s Some Ideas For Saving Money

Posted on May 1, 2011 by Joanne

Need help saving money for investing in your first tax lien certificate?

Or maybe you need to start an emergency fund and don’t know how to come up with the cash to get started.

Here are 3 clever, and virtually painless, ways to put aside some money now?from my friend Arnfreid. I’ve actually started to implement a couple of them myself and I’m starting my own rainy day fund.

1. Put aside a large envelope, cookie tin, coffee jar or something similar. At the end of every week, throw a couple of dollars inside. By the end of your first month you should have some extra cash put aside to have a nice start on an emergency fund.

The most important thing when doing this is: Don?t count it or spend it.
Place it somewhere that is hidden away. Put it somewhere that you won?t be tempted to dip into it.

2. The next time you treat yourself or your family to a meal out, tip yourself! Just as you tip the waitress 10 to 15 percent, put the same amount aside for yourself. When you get home, stash it away in your cookie jar. Every time you go through a fast food window, put a dollar away for that cookie jar, too!

3. Next time you pay off that big-ticket item like a new car or tuition, continue to make the payments to yourself! Set up a savings account and each month slip the ghost payment into it. Watch as it builds nicely.

Keep putting away money for the rainy day.

Be all you can be.
With Fond Regards

Arnfried Klein-Werner
Motivator & CEO – Be Motivated Today

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