Networking with other real estate investors can provide support and open up real estate investment opportunities you might not otherwise have known about. Networks like real estate investment associations or clubs allow investors to challenge and support each other–the shared knowledge and opportunities can play a crucial role in advancing your career.
If you’re interested in joining a local real estate investor club, you’re in luck! Tonight, Ron Phillips of Wealth Accelerator System invites you to join the local investor club meetings in Thanksgiving Point near Salt Lake City. A short drive to this great event gets you a delicious free dinner, a great opportunity to meet other investors, and valuable investing techniques to accelerate your growth exponentially.
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Precious metals are a great way to diversify your portfolio, but think about looking beyond gold bullion to black gold—oil. Global demand for oil will only continue to increase. While the U.S. consumes more oil than it produces, the potential for increased domestic production on American soil is promising. New technology offers the promise of tapping previously unreachable oil fields. North Dakota has been producing record-setting oil output month after month and reaping the rewards of low unemployment and enormous profit. Meanwhile, the booming production at the shale fields in Texas jumped by more than a third over the last year and production now outpaces even that of North Dakota.
The U.S. is in the midst of an oil renaissance, which makes for very profitable investment opportunities. For example, the Koch Pipeline Company just proposed the construction of a new pipeline that would carry crude oil from North Dakota to Illinois. In addition to profit, there are tax incentives for investment in oil and gas. Where some ventures may seem risky or the potential for profit unlikely, investing and oil and gas could be a hedge against high-risk investments and inflation. The revenue from a consistently producing well may pay off for many years.
Various ways to invest in the oil industry include:
- Drilling companies
- Land where drilling is taking place
Whatever you choose within the oil and gas industry, your self-directed IRA will act as a shareholder and potentially garner great profit.
How it works:
- Commit to an oil or gas company on a particular project
- Open up a new account with Mountain West IRA
- Complete the necessary paperwork for investment
- Mountain West, as the custodian of your self-directed IRA, will send investment funds to the oil or gas company
- Earn revenue from oil and gas profits
Set up your self-directed IRA with Mountain West IRA today so you can invest in the oil or gas industry.
Although the options are nearly unlimited when investing in real estate with a self directed IRA, it is extremely important to understand and follow the IRS guidelines to avoid hefty penalties for violations.
Some of the options available for the purchase of real estate investment properties within a self-directed IRA include:
•Domestic or international real estate
•Residential or commercial real estate
•Single family or multi-family units
Use of real estate within your self-directed IRA does have some restrictions. The owner of the self-directed IRA and members of their immediate family cannot personally use or benefit from the real estate. For example, the owner of the self-directed IRA may not purchase an investment property with funds from their self-directed IRA for their child to live in while attending college. Another important guideline to note: money earned from the investment properties must go directly back into the IRA account used to purchase the property and expenses for the property must also be paid from the account.
Although the rules and guidelines for self-directed IRAs may seem confusing at first, the professionals at Mountain West IRA specialize in facilitating the management of self-directed IRAs and are available to guide investors through the process. Contact Mountain West IRA to schedule an informational appointment.