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Hello Fools!

I have an opputunity to do purchases contracts at a discount to face value. My Dad own a buy-here-pay-here car lot, and sells cars at 18%+ interest. (Say what you will, but on this side the rates look great!) I can buy contracts from him at a 25% discount, with recourse. Safe, easy money... the taxes are killing me.

Now... can I structure an IRA so that I can buy those contracts from within an IRA and not have to worry about taxes for a long time? Being able to compound 23-25% returns adds up real quick.

I'd like to move money in from a roll-over IRA to kick start the thing going. So, is this idea Foolish or foolish?

Chris
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Look at Kelloggs instead.
Or set up as corporation.
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