By Jeff Astor
Welcome to this week's "Real Estate Retirement Investing: Real People, Real Stories." Today, we take a look at John from the Southeast US:
About a year after purchasing the plan, John called to tell me how thrilled he was and that he had a friend who might be interested in signing up for the same deal.
Then, John relayed to me how the plan had worked out for him so far:
“…We bought a special little lake place. We have over 450 feet of lakefront. It’s beautiful. Great dock. We did that deal. Just now. We did well over $100,000 in revenue last year on a $600,000 investment. And I bought it for a quarter million less than what I can sell it for today. It’s a great little success story.
“I also used the [IRA] LLC for an investment on a foreclosure with a 20% return. Put a caretaker there. He’s paying rent. It’s not a house I want, so I’m going to let him pay rent for, who knows, 20 years and deed it over to him when he has it all paid back. I’m thrilled with it [the plan] so far.”
One Paragon Drive
Montvale, NJ 07645
Phone: (800) 395-5200