Who knew habanero peppers would be a hot investment?
One client of Guidant Financial opened a self-directed IRA and bought a 50% stake in a habanero pepper farm that was owned by his cousin. He was convinced that -- through the value of the land and the sale of the peppers -- he could double his money in two to three years.
Since the consultant who worked with the investor is no longer with the company, Guidant's Nilssen said he's not sure whether he ever realized those returns.
"People love the idea of income-producing real estate," said Nilssen. "In this case, you just buy a plot of land, plant some habanero peppers, harvest them. Then it allows the investment to produce income and you could potentially realize income for selling the peppers along the way, too."
NEXT: Christmas tree farm
