Posted by Shawn Sisco on November 18, 2009 at 10:11:02:
In Reply to: Advice needed for a newbie posted by Darius on November 17, 2009 at 03:20:34:
My advice would be to study the archives of this forum, contained in the 10 years of posts are many book reccomendations - read them too!
Pay close attention to all posts that give instruction how to structure deals using little to none of your money. Working deals and building up cash in the process, once you have learned (and the learning is what will make you rich)to do deals without requiring your money or your debt - then you are reay to benefit from your SD IRA money.
If you first invest your IRA $$, you will soon be out of operating capital and you will then need to learn to do deals without using your own money anyway, if you are to continue, and then you will see those deals that would really be sweet inside the IRA - but you can't use it because it is tapped out on some mediocre deals.
Keep in mind that the tax advantages of your Roth IRA are greatest for deals on which you would owe a lot of taxes on - these are the deals to work inside your IRA. Read all you can about options, they are the best tool to use to build your IRA balance.
- Re: Advice needed for a newbie Darius 11:29:06 11/18/09 (1)
- Re: Advice needed for a newbie Shawn Sisco 11:45:08 11/18/09 (0)