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Posts for 2015

VRBO Vacation Rental by Owner

First Western Federal Savings Bank has been financing “Vacation Homes” for rent all across the country.  Because of our customer’s success and repeat business, I attended the Home Away VRBO, www.vrbo.com, and www.Homeaway.com, summits in Atlanta and Denver over the past few months.  I was fortunate to meet many vacation owners and hear their success stories.  I also met many of the vendors and learned of the services they provide.

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Leverage Your IRA Investment with a Non Recourse Loan

Join Roger St. Pierre from FWFSB and Dimitriy Fomichenko of Sense Financial for an informative webinar explaining the details of leveraging your next real estate purchase with a Non Recourse Loan.

Retirement Industry Trust Association Annual Conference

The Retirement Industry Trust Association (RITA) held its annual conference in Washington, DC on March 23-24, 2015.

I took the opportunity to sponsor this event and speak with the CEO's of all the major self directed IRA Custodians, Administrators, and Facilitators of Self Directed IRA's and 401K's. This was a terrific event to hear from key government officials (Dept. of Treasury, Dept. of Labor, IRS) on their view of this industry and its issues going forward from their perspective. Key players from Pensco Trust, Equity Trust, IRA Services, Horizon Trust, Sunwest Trust, IRA Financial Group, MidAtlantic IRA, uDirect, SDIRA Services, among many others attended this great educational 2 day event and were a great resource to hear from on what is happening on the front lines of this industry. RITA is the watchdog for the Self Directed IRA industry and works hard to keep it free from excess government regulations and keeps important issues in front of government officials who are in positions to influence the industry going forward.

I am very confident after meeting the Board of Directors of RITA and the many dedicated individuals who run these companies that the Self Directed Retirement industry is in good hands and positioned well for the future. Owners of individual retirement accounts (IRA's) can be confident that their interests are being protected and the future of the Self Directed IRA secure.

Retirement Savings: Are You Setting Yourself Up For Failure?

Non Recourse IRA LoansIs there a retirement crisis looming? Many experts think so, given that "about 45% -- or 38 million working-age households -- have not started a retirement fund of any kind," according to a May 6 article in the Huffington Post. This disaster-in-the-making can be easily remedied, with some definitive and smart saving. Other than not saving at all, what is the next biggest mistake?

Many Americans fail to diversify their future retirement income. A lack of diversification can be a critical and even devastating misstep. It is important to have a retirement account (typically a 401K), stocks and bonds, and some non-traditional types of collateral, such as a self-directed IRA. Here are some pointers on how to secure loans and future investments from a non-recourse lender:

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Americans Turn To Self-Directed IRAs For Smart Real Estate Investments

Self-Directed IRA Savings PlanHave you turned to a self-directed IRA for a smart real estate investment? Nearly all Americans have heard about the looming retirement crisis. Figures such as "53% of the civilian workforce participates in or contributes to a retirement plan," according to U.S. News and only 48% contribute to retirement accounts in the private sector, are sobering. When it comes down to it, the biggest problem may not be Americans' inability or unwillingness to contribute to retirement funds and options; the real problem is the lack of knowledge about the topic. The vast majority of Americans do not know about valuable alternatives to 401K and traditional IRA plans. Very few know about self-directed IRA plans, non-recourse lenders, and IRA loans, for example.

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How a Pianist Bought a Building With Her Inherited IRA

self directed ira lendingA few years ago, a famous violinist died and left his daughter a total of five million dollars in assets. According to Forbes, part what was left to pianist Laura Harth Rodriguez by her deceased father was two million dollars in retirement accounts. What Rodriquez wanted to do was purchase a three-story-building in an up-and-coming neighborhood in Pittsburgh. The caveat with doing that is that she would have to take the money out of an IRA, which she would have to pay all of the taxes on at the time of withdrawal. Right?

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Buying Real Estate With an IRA and a Non Recourse Loan

Presented by Mat Sorenson of KKOS Lawyers and Roger St. Pierre, Sr. VP First Western Federal Savings Bank

Mathew Sorensen, Partner, KKOS Lawyers, and author of The Self Directed IRA Handbook and Roger St. Pierre, Sr. VP, First Western Federal Savings Bank, on Buying Real Estate with Your IRA and a Non-Recourse Loan. This webinar will be an excellent resource for you, your staff, your friends, and/or your clients and where we have covered the following topics:

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Three Important Questions About Non-Recourse Loans

Non Recourse Loan LendingThe world of finances can definitely be a tricky one to understand, with so much confusing terminology and tiny differences between borrowing options and repayment plans. So, in hopes of clearing up some of the confusion, here's a small guide to something called a non recourse loan.

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