I recently had the opportunity to interview M.D. Anderson, below right, of Chandler, Ariz. Anderson is a longtime multi-licensed insurance agent as well as an accountant, certified legal document preparer and an active Realtor® with RE/MAX Diamond in Mesa, Ariz.
Below are highlights from our conversation.
Daniel Williams: M.D., it seems you are stating in your online videos and printed materials that insurance agents, bankers and stock brokers are doing something wrong by not telling each of their clients that “owned” real estate belongs in every portfolio.
M.D. Anderson: Daniel, that is exactly what I am saying. But, let me explain myself. I first openly admit in my videos and written documents on self-directed IRAs in real estate that I, too, ignored telling my clients for 36 years about this option. I believe in it to the point that I traded my brokerage license for a real estate license here in Arizona in 2002. Yet there was no mention in real estate school about funding an IRA with real estate. There was no broker I worked for who mentioned it as an option and even if one did, I most likely tuned it out or ignored it.
Williams: So you didn’t know you could buy actual real estate in a self-directed type account until last year?
Anderson: Unfortunately, I did know. I had the license to sell real estate to an IRA owner. I consulted on millions of dollars of IRAs nationwide for the past 10 years and never mentioned the option until my great awakening last summer.