Re: Ten Best Cities For Global Real Estate Investors
DC didn’t make the top 10, but it did sneak inside the top 20 (#19) when it comes to global real estate investors.
Forbes recently ran an article on the top cities worldwide when it comes to real estate investing.
Our sleepy little city, once packed with government bureaucrats, has woken up and been found by investors around the world. Once the global travelers arrived here, they found a vibrant city full of culture, world-class entertainment, and food.
Residents in DC really love their restaurants. A variety of nearby restaurants is a telltale sign of a good neighborhood.
This is a city run on networks of people, many of whom are at the top of their game. In a word – POWER – is embedded in the DC professional business community.
One of the biggest money power grabs in history occurred in 1974 when the US Congress created the Employee Retirement Income Security Act. This Act created the original IRA.
The problem was, it was only available to people who did not have another employee sponsored retirement account. On top of that, it was limited to $1,500 dollars per year of contributions.
What a snooze.
Until 1981 rolls around. We were going through another recession when the government decided to allow ANYONE under 70 1/2 to contribute to an IRA.
We have had a few other changes since then, but none as important as the clarifications on the Self-Directed IRA issued by the IRS in 2001.
Today 40-50 MILLION people have some sort of an Individual Retirement Account.
The trick for many people is that they need to make it grow – fast. For most people when they start thinking about retirement, we are already pretty far down the path of life, and “retirement” is sneaking up on us faster than we like.
That said – tucked inside our back yard is my friend and nationally known expert on Self Directed IRA’s.
Jack Kiley is the Managing Partner of MidAtlantic IRA and is known for his technical knowledge and nuances of the Self Directed IRA and other retirement vehicles available to the small business owner.
There is no other financial vehicle today other than the Self Directed IRA (and IRA derivatives like SEP accounts) that will provide you with the ability to “do real estate” inside of a retirement account.
If you are active in the DC area or beyond, or just have a few questions about IRA’s this next WREIA meeting is an amazing opportunity to come out and get the REAL STORY on the benefits of using a Self Directed IRA.
Jack’s reputation for “speaking in plain English” regarding complex concepts gets him invited regularly to speak on these topics to groups across the country – and especially on the topic of self-direction.
When we were working on the calendar for WREIA topics in 2017 Jack Kiley was at the top of my list. He is a secret “weapon of knowledge” for me and his company should have a seat at your power table when it comes to your list of resources in this industry.
With everything going on in the world today, protecting some of your hard earned profits should be at the top of your list.
Tucking away “something for retirement” is something we all know we need to do.
It’s not sexy to talk about retirement, we all know that.
You probably won’t see a TV show about the management of Self Directed IRA’s. Highly unlikely.
So this month – LET’S GET TO WORK – it’s time to put some time into planning for the future. It creeps up fast and the only way to get started – IS TO GET STARTED.
Jack will give you some pointers on what is best for all of us in certain situations. Someone in their 20’s or 30’s has a very different outlook than someone staring down their 50’s or 60’s or beyond.
I’m extending the invitation. Join Jack Kiley and dozens of other investors at our WREIA meeting on Monday, July 17th.
FOCUS and make 2017 a great year for your business!
Let me know how I can help you,
Washington REIA Network, President
Profitable Property, Founder
P.S. Interested in a lender or construction partner for your project? We lend to and partner with people all over the DC area. Call the office and lets set up a time to talk through or walk through your project.