Is IRA Advantage A Scam? (A New Scam!?) (Updated 2022)

May 21, 2022

Is IRA Advantage A Scam?

Welcome to my 'Is IRA Advantage A Scam?' article! 

Are you looking for a company that help you diversify your portfolio? Then this 'Is IRA Advantage A Scam?' article can help you. Additionally, we will be answering the question of whether or not it is a new form of scam.

Has IRA Advantage tickled your fancy? If so, you will find this good read very informative and helpful. Without further ado, let us get this 'Is IRA Advantage A Scam?' started!

Name: IRA Advantage

Website: https://www.iraadvantage.net/

Founders: Moore Brothers (David and Thomas)

Products: Real Estate and Precious Metals Investments

Price: No information available

Rating: 3/5

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IRA Advantage Review Quick Summary

IRA-Advantage-Website

IRA Advantage was founded in the year 2008 by the Moore Brothers, David and Thomas. Both are experts when it comes to self-directed IRAs and has been in the industry for well over 19 years.

One of their objectives is to provide their clients with the best course of investment action possible. Moreover, the firm strongly believes that providing opportunities and solutions is their strongest suit.

Certainly, more and more investors are looking for ways to have the sense of financial security. True enough, investing in the stock market is one way, but looking at self-directed IRA is practically a good thing too.

With this in mind, IRA Advantage offers their clients and investors to achieve this security. With great willingness, they allow their clients to be educated about self-directed IRAs.

In this manner, IRA Advantage manages to prove that they are indeed a competitive force in the industry. Although, their straightforwardness leaves much to be desired.

If you want to skip to our top recommended gold IRA firm, click here.

Products and Services Offered

One good thing I like about IRA Advantage is their diverse options. Clients will be met with a lot of possibilities and courses of action. Listed below are the products and services that they offer.

Real Estate Investment and Reserves

If investing in real estate is of your highest priority, IRA Advantage has just the right thing for you. Balancing costs, risks, and incomes are some of the tasks you need to master.

Also, it is vital to plan ahead. In addition to having the capital of starting this investment, you also need to allocate a portion for some fees and carrying costs.

This may well include future prices, property taxes, insurance, utilities, as well as upkeeps and repairs. Furthermore, you must understand that there will always be unexpected costs.

Obviously, you will need some help regarding this matter. For that, I recommend listening to their audio series. This can guide you through everything you need to know about real estate.

Precious Metals Investment

For this part, IRA Advantage accepts a variety coins that are acceptable for an IRA. A comprehensive list of these coins can be found below:

Gold Coins/Bars/Bullions

A minimum fineness requirement of 0.999

  • American Eagle coins (except for “slabbed” coins)
  • Australian Kangaroo/Nugget coins
  • Austrian Philharmonic coins
  • among others

Silver Coins/Bars/Bullions

A minimum fineness requirement of 0.9995

  • American Eagle coins (except for “slabbed” coins)
  • Australian Koala coins
  • Canadian Maple Leaf coins
  • among others

Platinum

A minimum fineness requirement of 0.9995

  • PAMP palladium bar
  • PAMP palladium kilo bar
  • Canadian Maple Leaf coins
  • among others

Palladium

A minimum fineness requirement of 0.9995

  • PAMP palladium bar
  • PAMP palladium kilo bar
  • Canadian Maple Leaf coins
  • among others

For the complete list of acceptable coins, do click here.

One thing of note is that their list is not comprehensive and lacks information. Augusta Precious Metals have a larger inventory and display essential information such as descriptions and prices.

Stock Option and Franchise Product

This entails forming a company, putting in place an employee stock option plan, and causing the employee's various IRA/pension accounts to purchase stock in the company. 

Another service of IRA Advantage involves forming a corporation, implementing a 401(k) plan, causing the "single" employee's pension plan to acquire all of the company's shares, and then revoking the pension's capacity to invest in the company's shares.

These two services have a more complicated process. Therefore, for rookie investors, I suggest to not delve in this matters. Perhaps with time and knowledge, you can then invest in these options.

You may have to read more about how 401(k) is rolled-over to gold IRA. A comprehensive article can be found here.

How Does It Work?

Purchasing real estate using with your IRA may seem like a tedious task but reality is, it's as easy as counting from one to ten! Here are the steps that you must follow for your real estate investment.

  1. Establish a self-directed IRA account by contacting IRA Advantage.
  2. Choose your desired investment, plan your course of action, and work your way into a negotiation.
  3. If needed, a financing loan can only be conducted to the IRA and must be a non-recourse to the owner.
  4. Complete your purchase.

Alternatively, if you have your own set of questions, you can contact them through one of their representatives. Their contact number can be found in their website. Emailing also works!

Other Essential Features

As I was browsing their website, what captured my attention was that they have sets of calculator to help investors have an approximate value of what their investments can gain.

They have two types of online calculator: (1) Capital Gains and (2) Mortgage Calculator.

Capital Gains is directed for transfer of property. The taxes that you will potentially incur will be shown here. Should you use this calculator, be ready to have the many data needed!

On the other hand, Mortgage Calculator helps you to analyze your investments. Some of the variables it needs are sale price of the home, percentage down, length of mortgage, and interest rate.

It is very interesting to have a company have this insightful features. With this, clients might be more interested in looking, and possibly availing their products and services.

Company Rating and Customer Reviews

Sadly, this is the portion wherein IRA Advantage seems to have a problem. For a firm that started in 2008, no reviews and ratings that are associated with them can be found!

Quite the predicament to have, especially by a firm that is relatively old and is competing in the industry. Not to mention, they are not affiliated with any reputable organizations such as Better Business Bureau or Business Consumer Alliance.

Other Gold IRA companies have immaculate reviews numbering to thousands! This speaks volume on how a certain company works . It also is an indicator on how they treat their investors.

Pros and Cons

Pros

  • Been in the industry for well over a decade
  • Unique and extensive products and services
  • Promotes client education through their audio and video series

Cons

  • Has ZERO reviews and ratings
  • Description and pricing about their products are insufficient
  • Essential information are blocked by online registration or actual calls to representative

Is IRA Advantage A Scam?

As a conclusion, IRA Advantage is definitely not a scam. It is a legitimate company with legitimate board of members. And to say the least, their products and services are appealing and extensive.

However, it also has a significant number of negative points. The most appalling would be their lack of reviews and rating even if they are in industry since 2008. How fishy is that!

Consequently, I have talked about how varied their products and services are which is true. However, vital information such as description and pricings are nowhere to be found!

Even if it is a legitimate company, I would not recommend IRA Advantage to you. Check out my recommendation below for a reputable company.

Thank you so much for reading this article entitled 'Is IRA Advantage A Scam?' Any comments or suggestions are deeply appreciated. Do leave them in the section below.

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