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  • #1

    Question about self directed IRA, real estate, income property

    My wife inherited an IRA account, and the financial adviser who's always had the account is a friend of her family.

    It seems like every time my wife gets a statement, it's down 8% again.

    I'm a real estate broker in Austin, and I see an opportunity for my wife to take part of her IRA and buy rental property. Versus where the account started (2006) and where we are today, its god damned depressing, and the trend is a red arrow pointing down.

    If she were to buy real estate, does the rental income go back in to the IRA? That would help rebuild it and offset the damage done.

    I reached out to the guy in charge of the account, emailing him and asking if this was something we could do. I forgot to introduce myself (I've met him, my wife took my last name, and she was cc'd on the email), and he called her and got snippy saying some realtor had emailed him out of the blue, if she couldn't handle risk to sell it and invest in CD's, blah blah blah. It upset my wife to be on the receiving end of the call (she didn't check her email to know that I had sent it, but its a subject I've brought up over the last couple of weeks), and she should've snapped back that the email had come from her husband, but she missed that opportunity.

    Any insight to self directed IRA's is appreciated.
    Ronald Reagan:"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."

    Homer: "Bart...there's 2 things I know about women. Never give them nicknames like "jumbo" or "boxcar" and always keep receipts...it makes you look like a business man."
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  • #2
    It sounds like the guy running the account is a d-bag and on the defensive for the accounts poor performance.

    Comment

    • #3
      Fuck that guy. Close it all out take your money and buy some rent houses.

      Comment

      • #4
        I agree with you both, but it's not my call, I'm just trying to build a well founded case for moving forward, and hopefully away from this person.
        Ronald Reagan:"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."

        Homer: "Bart...there's 2 things I know about women. Never give them nicknames like "jumbo" or "boxcar" and always keep receipts...it makes you look like a business man."

        Comment

        • #5
          Sounds like the guy's a shithead. What investments has he had you in? Pm me if you want.
          Originally posted by davbrucas
          I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

          Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

          You and slow99 should date. You both have passive aggressiveness down pat.

          Comment

          • #6
            I'm just going to leave this riiiiight here.

            LMGTFY - Let Me Google That For You
            http://bfy.tw/4Bxw
            For all those people who find it more convenient to bother you with their question rather than to Google it for themselves.
            QuestionableContent-Awesome Webcomic

            Comment

            • #7
              I'm not alleging he's done anything other than play it safe (and there was probably a point when he should have pulled out completely before losing $400k, or close to half of its value), but his safe plays are dogs/losers.
              Ronald Reagan:"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."

              Homer: "Bart...there's 2 things I know about women. Never give them nicknames like "jumbo" or "boxcar" and always keep receipts...it makes you look like a business man."

              Comment

              • #8
                Originally posted by barronj View Post
                I'm not alleging he's done anything other than play it safe (and there was probably a point when he should have pulled out completely before losing $400k, or close to half of its value), but his safe plays are dogs/losers.
                Ouch.
                Originally posted by davbrucas
                I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

                Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

                You and slow99 should date. You both have passive aggressiveness down pat.

                Comment

                • #9
                  she should've bailed looong before losing almost 1/2 the value.

                  Comment

                  • #10
                    Originally posted by barronj View Post
                    if she couldn't handle risk to sell it and invest in CD's, blah blah blah.
                    Originally posted by barronj View Post
                    I'm not alleging he's done anything other than play it safe (and there was probably a point when he should have pulled out completely before losing $400k, or close to half of its value), but his safe plays are dogs/losers.
                    Sounds like someone can't tell the difference between a little loss in risk/reward and straight up being negligent of the account.

                    Comment

                    • #11
                      Originally posted by GeorgeG. View Post
                      she should've bailed looong before losing almost 1/2 the value.
                      She did not have any control over it then. Her mother died a year ago, that's when she got this.

                      Value plummeted when the market collapsed in 07/08
                      Ronald Reagan:"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."

                      Homer: "Bart...there's 2 things I know about women. Never give them nicknames like "jumbo" or "boxcar" and always keep receipts...it makes you look like a business man."

                      Comment

                      • #12
                        Originally posted by barronj View Post
                        She did not have any control over it then. Her mother died a year ago, that's when she got this.

                        Value plummeted when the market collapsed in 07/08
                        Right, but 2009-mid'15 should have made it back and more.
                        Originally posted by davbrucas
                        I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

                        Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

                        You and slow99 should date. You both have passive aggressiveness down pat.

                        Comment

                        • #13
                          Yep, but my guess is he played it safe through the climb because he is an idiot

                          Comment

                          • #14
                            '06 - '08 I can understand, but from '08 till end of last year should have been growing.

                            Comment

                            • #15
                              Originally posted by jw33 View Post
                              '06 - '08 I can understand, but from '08 till end of last year should have been growing.
                              This. I'm serious when I say this sounds more than just a little strange.
                              QuestionableContent-Awesome Webcomic

                              Comment

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