Checkbook Control LLC: How To Own Alternatives In Your IRA
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 22 August 2022
⏱️ 27 minutes
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Summary
The "checkbook control LLC" can be a great tool for investors looking to diversify beyond the traditional investments normally offered in an IRA.
PLUS...if this is structured correctly you can retain control of the assets.
Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.
Contact Devin's team at https://www.carrolladvisory.com/
Contact John's team at https://www.rossandshoalmire.com/
Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide tax, legal, or financial advice. |
| 0:04.3 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:11.3 | Hey, everyone. |
| 0:12.2 | Welcome to The Big Picture Retirement Show. |
| 0:14.1 | I'm your host, Devin. |
| 0:15.3 | Join today by, no surprise. |
| 0:17.7 | John Ross. |
| 0:18.8 | Hey, John. |
| 0:19.3 | Howdy? |
| 0:20.0 | You know, John, we've been doing these retirement plans. |
| 0:22.0 | Well, not we, you and I, but we, my firm, has been doing these retirement plans for people all over |
| 0:26.6 | the nation for the last, I don't know, six to eight months since we've really ramped this up and |
| 0:31.4 | added some in-house financial planning staff and all of that. And the other day, I got to talk to |
| 0:36.0 | one that was an interesting case that made me |
| 0:38.2 | start thinking. He started telling me about his portfolio, and he had about $15 million worth of |
| 0:43.4 | real estate. And it was all owned inside of his IRA. Now, as I went through that, because it intrigued |
| 0:49.2 | me, right? As you know, I'm a small-time real estate investor myself. And just someone growing their wealth like |
| 0:56.9 | that in real estate, I kind of wanted to dig in and see how he did it. And the story got even |
| 1:00.7 | more interesting at that point. Back in 2009, 10, something like that, he was really disgruntled |
| 1:07.4 | with his market returns and had an opportunity to buy a piece of real estate that |
| 1:12.7 | he thought was a good deal. He had about $300,000 at that point. He took that $300,000 and he |
| 1:17.7 | bought that piece of real estate. And from that point, he sold that one, acquired another one, |
... |
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