Case Study: Self Directed IRA Did Not Satisfy Client’s Desires (Based on actual client of Lasaii Benefits).
In 2009, Mr. Lee, a Commercial Airline Pilot, discovered an ad for Lasaii in a Delta In-Flight Magazine. The ad caught Mr. Lee’s attention because it was about using an IRA to help purchase real estate that you can OCCUPY by using a SAFE HARBOR®-Directed IRA™
Mr. Lee was intrigued, and also a little perturbed, as he had literally just used his IRA to purchase real estate in Mexico with a Self Directed IRA three years prior. He was perturbed because by purchasing the real estate with a Self Directed IRA, he knew that he could absolutely not use the property for himself without violating an IRS prohibited transaction thereby incurring a major tax consequence on the real estate. He couldn’t even paint a coat of fresh paint on the front door of his property in Mexico if he wanted to.
Not only could he not use his property bought with a Self Directed IRA for himself or his family, he had also been told that there was NO way his IRA could be used to purchase real estate that did allow for occupancy for an immediate family. Mr. Lee wasted no time in contacting our office as he definitely had some questions.
IRA Real Estate to OCCUPY:
When Mr. Lee reached out to Lasaii, he reiterated the fact that when he had purchased his condo in Mexico with the Self Directed IRA, he initially did want to be able to use it for himself, but again was told that it could not be done. We explained to him that it is in fact possible with the SAFE HARBOR®-Directed IRA™ (SHIRA™).
IRA Real Estate to Occupy: Dreams Do Come True
Mr. Lee was so excited that his dreams of living half the year in Mexico and half of the year in the States could be accomplished. He sold his real estate as quickly as possible that was purchased with a Self Directed IRA and invested those funds in a SAFE HARBOR®-Directed IRA™ to help buy a condo in the same complex that he owned before, but this time, that him and his wife could use for themselves.
Mr. Lee invested in the SHIRA™to help purchase his condo to occupy in 2009, ten years later in 2019, he still spends half the year in Mexico in the very same condo.
*Names have been changed to protect the privacy of our client.
Take a deeper look at the numbers and the difference between the three different IRA’s used to invest in real estate by clicking on the button entitled, “Take A Deeper Look:
The Perfect Alternative Investment
With the potential interest earnings of the SHIRA™, possible appreciation of the real estate, rental income (if you wish), and the intrinsic value of occupancy, together with the tax write-offs, if you qualify, the total value and benefit of both the SHIRA™ and the real estate could be, and has been, in the double digits. In other words, the perfect alternative investment.
We specialize in helping clients structure customized, tax effective IRA real estate investments that enhance their portfolios, lifestyles, market positions, and legacies.
Since 1992, Lasaii Benefits have been the leading experts in the IRA Real Estate to Occupy Industry.
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Visit www.lasaiibenefits.com to sign up to receive our “Understanding the SAFE HARBOR®-Directed IRA™” PDF brochure to learn more. You may also visit our website to see if you qualify for our program.