Client Success Story
Mr. Sidney Gaines Cash has 47 years of experience working in the banking industry with three different community banks. His long-standing tenure in the industry has allowed him to build several banking relationships which led him into private lending to trusted individual borrowers.
In 2014, Mr Cash became a client of NuView IRA where he now holds 40% of his retirement funds which he leverages to issue private loans. He learned about NuView IRA through his Financial Advisor and was drawn to self-directing his retirement funds to diversity his portfolio. Additionally, private lending has proved to provide higher returns compared to the stock and bond markets.
Mr Cash offers loans to individuals who may not otherwise qualify through the bank and, in return, he benefits from the ability to increase his retirement funds through loan interest rates. He considers private loans to be a “fair interest, fair risk investment”. Mr. Cash currently has 5 private loans through his NuView IRA, which provide him with an ongoing cash flow from monthly payments received from his borrowers.
Mr. Cash enjoys private lending because it’s relatively easy (with the guidance of an attorney) and it gives him the ability to maximize earnings by lending to well-known friends and borrowers. In return, his borrowers/clients appreciate the service he offers so they can access money when needed.
When asked about his experience working with NuView IRA, Mr. Cash said he was very pleased by the professional manner of the NuView staff and their willingness to assist with his transactions. He also enjoys NuView’s educational workshops and events, which have helped him gain a better understanding of all the investments options and possibilities available with his self-directed IRA.
In closing, Mr. Cash explains “the key to private lending is knowing the right people, having collateral, and creating cash flow. The returns are much more profitable than the money market or CDs.”
Click to learn more about the basics of Private Lending with a Self-Directed IRA.
