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Former Hockey Coach Purchases Ice Rink through His IRA

October 11, 2012

A former men’s hockey coach at the University of Virginia recently decided to use his self-directed IRA to purchase real estate in the form of an ice-skating rink that was on the verge of closing. He got together with six other investors and contributed $300,000 from his own IRA in order to save the ice skating rink in Virginia where he had previously coached. In addition, the former coach also purchased several real estate properties in Florida and a mortgage on a medical building by self-directing his IRA.

With financial stress from the economy and unknowns in the stock market, it’s no surprise that people, like this former hockey coach, are looking for alternative ways to earn more money for retirement. Self-directed IRAs are a great option for this, as they allow IRA owners the ability to invest in what they know and understand. IRA owners can pursue a wide variety of investments including real estate, private placements, mortgages, tax liens, etc.

If you work in or know the real estate industry, you can self-direct your IRA into real estate. If you know the mortgage field, you can use your IRA as a lender. If you know a company looking to raise capital, you can invest in a note with that company. There are so many investment possibilities that most financial advisors are unaware!

If you’ve got experience or knowledge in a specific field, take the example of the former University of Virginia hockey coach and invest in what you know and understand. With a self-directed IRA from NuView, you can do just this, while taking advantage of the tax-advantaged growth of your retirement plan. Give our Florida IRA administrators a call at 407-367-3472 to learn more about the many ways you can invest in your retirement!