Help someone who has some money that they would like to loan, put that money to work. If they’ve got a self-directed IRA, fantastic, they can move that money. They can actually loan that money to you. But what if they’ve got money in a retirement account and it’s not a self-directed account? Self-directed means that they can actually direct that the money comes from the IRA Custodian to you and what you give back is a note to the IRA Custodian and they hang onto that and watch the payments come in based upon those notes.
Well, that’s exactly what you can help Mrs. Jones too. You can help her move her money from a traditional IRA into what’s called a self-directed IRA and there’s plenty of self-directed IRA custodians out there in the world that can take care of that for you.
That’s what I encourage you to do. Then once you help them set up the IRA, you can borrow the money from it and it’s one of the easiest monies to borrow because people don’t need that money for their groceries. They don’t need that money to pay their bills. That money is orbiting around the sun in their retirement account, and most of that money is earning 0.0 something percent interest. Imagine that you can now give bank rates for the money, and I’m talking about what the bank charges for a loan. You can now give that to a retirement account holder.