What you missed March 2008 Meeting by Robert Davis
Richard Desich, Sr. created what is today known as Equity Trust Company. He began by telling us some information about his company. It is bonded and today his company is thriving and has helped thousands of investors avoid paying taxes by investing their tax deferred money into mortgages and other non-traditional areas like options on properties. A normal self-directed IRA with most firms can only invest our money in the stock market or bonds through their own company. A true self-directed IRA company can invest our funds in many other entities such as mortgages, loans, options, etc. Equity Trust is one of the true self-directed IRA companies. Although the company is located in Ohio, he assured us they could close a deal in one day if necessary in Florida. A normal deal closes in 3 days.
Leaving our money in our IRA’s to grow tax deferred allows us to build wealth much faster. He also said our IRA’s are judgment proof. However, if we hold title to a house with our IRA and someone is hurt there, we may be sued against our IRA. A better way is to buy an option on a house rather than owning the house in the IRA. Mr. Desich said there are a number of ways to drastically increase the value of our IRA by various means. He urged everyone to start a Roth IRA if we didn’t already have one. Money gained in the Roth is tax free after the Roth IRA is at least 5 years old and the owner is at least 59-1/2 years old. He gave several examples of long-term investments for the IRA. He also talked about options in an IRA to boost the profits.
His company does a 4-day seminar twice a year to show people how to earn big profits through the use of their IRA. His next seminar is March 27th through March 30th.
Past What You Missed
Wendy Patton
Pete Fortunato
Vena Jones-Cox
Jack Miller
Greg Pinneo
Andy Heller
Robyn Thompson
Maria Fee
Justin Ryan
Jack Shea
See past meetings here
