CHARLOTTE, NC / ACCESSWIRE / July 5, 2020 / Is tax lien investing for most investors? That is one of the questions tackled at a recent post at American IRA, a Self-Directed IRA administration firm based in Asheville, NC. In the post, American IRA examined what tax lien investing is, how it can work within a Self-Directed IRA, and ultimately dispelled myths about tax lien investing.
In the first myth, "Tax lien investing is taking advantage of other people," American IRA pointed out how the process of tax lien investing works. A tax lien against a property occurs when an individual has failed to pay the property taxes on the home. Some local governments then sell off these tax liens-guaranteeing the local governments that they are able to collect on the taxes they're owed.
This shifts power to the tax lien investor, according to the post. The tax lien investor can collect on the debt with high amounts of interest. Or, in the event that the owner is unable to pay these taxes, there may be a possibility of foreclosure. In this instance, as American IRA points out, it does not create problems for the property owner who has failed to pay the taxes. The failure to pay taxes already existed.
In another myth, American IRA explained that tax lien investing does not have to be too hard to understand. Tax lien investing may have the perception amongst investors that it is excessively complicated or difficult-according to American IRA, that doesn't mean that beginning investors should not pursue it. However, the Self-Directed IRA administration firm was quick to point out that investors using a Self-Directed IRA should do their due diligence with any type of investment.
The post explored other myths related to tax lien investing, such as the returns it generates, and whether tax liens can be used within a Self-Directed IRA account at all.
"American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC and Atlanta, GA."
SOURCE: American IRA, LLC