Scaling Wealth Through ERQP Real Estate Investing with Damion Lupo

On This Episode of Peak Market Watch...

Scaling Wealth Through ERQP Real Estate Investing with Damion Lupo

Damion Lupo, best selling author in personal finance and the creator of Black Belt Wealth, and Anton Mattli will dive into Damion’s expertise in eQRP®️ or Enhanced Qualified Retirement Plan.

 

Episode Highlights:

  • What is eQRP®️ or Enhanced Qualified Retirement Plan

  • How it may be used to invest in real estate – tax and penalty free

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VIDEO TRANSCRIPTION


00:00

important issue in today’s world and he

00:04

is meant to do many right so welcome

00:07

damion it’s a pleasure to have you with

00:09

us today anton it’s great to be here

00:11

thanks for having me my friend yeah it’s

00:13

absolutely great to have you on

00:16

i unfortunately had to miss it

00:18

at the real estate guys

00:22

summit in in belize but you just came

00:24

back from there

00:26

and there were some heavy hitters

00:27

including the chief economist from of

00:30

fannie who was

00:32

also giving his view of the world there

00:34

so maybe you can just to do a quick

00:38

uh

00:39

high level overview what what his view

00:41

is and what your view is what you share

00:44

with him and where you possibly will

00:46

disagree with him

00:48

i i’d love to i think one of the the

00:50

smart things to do is to pay attention

00:51

to the the person that’s driving the

00:54

thinking around fannie mae and fannie

00:55

mae is the 800 pound gorilla in

00:58

residential housing so really thinking

01:00

about what they’re thinking about is

01:02

very important because they’re going to

01:03

drive policy and in large part have an

01:05

influence on the market we had a lot of

01:07

conversations around the inflation

01:09

that’s going on housing the problem with

01:11

with supply the demand prices moving up

01:14

from apartments to houses and what’s

01:17

going on and the consensus and really

01:19

what we understood was that after the

01:20

great financial crisis in 2008 there was

01:23

a lot of the supply chain that

01:25

disappeared about 75 of the supply chain

01:27

in fact left the the market when that

01:30

happened it meant that their housing

01:32

wasn’t being built like it would be

01:33

normally that’s why we have four million

01:36

missing units right now so there’s

01:38

there’s a gap in the market it’s not

01:40

just that there’s a ton more demand

01:41

there’s just a missing supply chunk and

01:44

the the interesting thing is you can’t

01:46

just add in 75 of the supply chain it

01:49

takes years to do that it might take the

01:50

next decade so that’s going to put

01:52

upward pressure on housing prices houses

01:54

apartments we still have the demand so

01:58

what’s likely to happen is we’re looking

02:00

at more of a renter’s nation where

02:01

people are going to people are building

02:03

now for renters we see this as a growing

02:07

theme in america pretty much the

02:09

consensus from people like doug duncan

02:11

the chief economist of fannie mae george

02:13

gammon

02:14

russell gray robert helms

02:16

all these thought leaders kenny mcelroy

02:18

who many know is a pretty big player in

02:20

the multi-family and other commercial

02:23

spaces and it’s we just realized there’s

02:25

an opportunity so as much as there’s

02:27

likely to be a correction at some point

02:29

in the coming years the the truth is

02:31

people have to live somewhere and we we

02:33

just may see like in europe where you

02:35

have more and more people spending more

02:36

and more of their income on housing

02:38

that’s more likely than a major

02:40

correction in housing we’re more likely

02:42

to see a correction in the in the paper

02:44

markets and especially the bond markets

02:46

but right now the the shift is how much

02:49

how many assets can you really build up

02:51

and people are looking at debt as a

02:52

liability as an asset and the asset as a

02:54

liability now because of what’s going on

02:57

with inflation so it was a really

02:59

fascinating conversation we dug into

03:01

what we expect to happen and uh pretty

03:04

interesting that it was mostly a

03:05

consensus there wasn’t much

03:08

there wasn’t much in the way of people

03:09

thinking that

03:10

that housing was going to collapse

03:11

because there’s so much pressure

03:13

yeah

03:15

i think we certainly have seen it right

03:18

also from institutional players where

03:20

they reallocate

03:22

their commercial real estate portfolio

03:24

to

03:25

uh to in the direction of more

03:27

multi-family housing

03:29

so i think everyone recognizes we have

03:32

not just a massive liquidity in the

03:34

market but we also have what you

03:36

mentioned

03:37

that

03:38

supply shortage that we have never

03:41

really picked up from since the

03:42

financial crisis more than 10 years ago

03:46

and obviously now we we still see the

03:49

the result of it

03:51

so it’s definitely no question that

03:55

housing will be in in a massive demand

03:58

rental housing will be in a massive

04:00

demand

04:01

going forward having said that it all

04:04

markets and local

04:06

differences obviously always matter

04:09

right so some

04:10

some markets they grow

04:13

very strongly and always are still weak

04:15

right uh but we certainly have seen all

04:18

the

04:19

uh the major markets that have shown

04:21

already strong growth that they are just

04:23

getting stronger

04:25

and

04:26

so it’s it’s good to hear that fannie

04:30

recognizes the

04:32

that shortage and that their policies

04:35

are aligning to to support that that

04:37

additional supply that needs to come

04:39

online

04:41

and one of the other things that doug

04:43

mentioned was that they are shifting

04:45

their policy it looks like they’re

04:47

shifting their policy to where they had

04:49

a certain allocation i believe it was

04:50

like seven percent of the portfolio

04:52

towards second home slash investment

04:54

property and what they realized was that

04:56

they really needed to focus more on

04:58

investment property not necessarily

05:00

second homes because that’s the that’s

05:01

the missing element somebody’s second

05:03

home isn’t as important as the person

05:05

that has no home or needs one for their

05:07

own primary residence so they’re it’s

05:09

likely that they’re going to shift the

05:10

focus towards that seven percent

05:12

allocation going into

05:14

investment property which is a great

05:16

thing for investors and and to your

05:18

point about the the all the extra money

05:20

flowing i mean we’ve got an extra nine

05:23

trillion dollars that got pumped into

05:24

the economy last year it may have gone

05:26

through restaurants it may have gone to

05:28

amazon but ultimately it’s going to end

05:29

up in investors hands that’s how it

05:31

always always works those investors are

05:33

looking for real assets a lot of it’s

05:35

going into the stock market but a lot of

05:37

that is going into real estate and

05:38

because of what’s going on with the lack

05:40

of supply

05:41

and the reality is that we have this

05:43

huge demand people are smart they’re

05:44

putting it into into something that’s

05:46

going to continue to be solid which is

05:47

residential housing yeah absolutely

05:51

now

05:52

obviously with that right with all that

05:54

money that is is is out there the

05:56

liquidity the inflation element is only

06:00

uh for real uh whether uh the fed

06:04

is colic calling it transitory or not uh

06:08

that is a is a big question

06:11

uh i personally believe it’s it will not

06:13

be transitory uh in the way they think

06:16

and suddenly over the last month or so

06:19

we only have already seen a shift by by

06:22

a number of members of the board where

06:24

they feel yes i think we will probably

06:26

have a headline inflation that is higher

06:29

than what we originally anticipated

06:32

right

06:33

and i think that’s important obviously

06:35

for for institutional investors and

06:38

that’s why real estate real assets

06:41

are really

06:42

important in inflationary environment

06:46

and it’s also important on uh for

06:49

individual investors right uh keeping

06:52

your money in a money market account

06:54

whether it’s a retirement account or

06:56

your non-retirement account is likely

07:00

reducing your purchase power over the

07:02

next few years it has done that already

07:05

over the last decades

07:07

and it’s probably accelerating even more

07:10

and i think the service that you provide

07:14

right with eqrp is is really

07:17

in my view very important to provide the

07:20

tools to

07:21

uh to investors that have retirement

07:24

funds that they actually think of of

07:26

investing in the right assets so that

07:28

they’re not falling behind with their

07:30

wealth growth

07:32

so maybe you can talk a little bit about

07:36

the the eqrp and obviously have written

07:40

a book about it

07:41

for people who are in the syndic real

07:44

estate syndication space i would say you

07:46

have already built up quite a name a lot

07:49

of people know you but some

07:51

some of our listeners do not know about

07:54

it so maybe you can explain a little bit

07:55

what what it is all about yeah the

07:58

there’s in the retirement world it’s an

08:00

interesting thing that there’s most of

08:02

the liquidity in america for individuals

08:05

is in retirement accounts so it’s 401ks

08:08

iras there’s 35 trillion dollars in

08:10

these accounts and most people are

08:12

sitting there staring at a banks at a

08:14

brokerage statement hoping the number

08:16

goes up and that’s their entire plan and

08:19

they and the truth is there’s a lot of

08:20

options but most people aren’t told

08:22

about those because the system doesn’t

08:23

want to tell you how to take your money

08:25

out of the system because it loses all

08:26

the fees so the alternative the best

08:29

alternative out there is the eqrp which

08:31

gives people the ability to

08:33

control what they want to invest in and

08:35

what that means for somebody listening

08:36

or watching is is that you can take your

08:38

retirement account money your old 401ks

08:41

and iras and get control so it’s in a

08:43

checkbook you actually get to invest it

08:45

you’re not subjective to fees like and

08:48

taxes like you would with an ira and if

08:50

you want to invest in real estate for

08:52

example iras can tax you up to 37 on

08:55

that on that leveraged real estate so if

08:57

you’re thinking about stuff like real

08:58

estate or crypto or or gold or these

09:01

alternative and i laugh at that anton

09:03

when i think about alternative and i say

09:05

wait what’s alternative about real

09:07

estate or gold like it’s that seems like

09:09

that’s real and the stock market is kind

09:11

of the alternative you know it’s it’s

09:13

the fake stuff

09:14

so the reason this is really important

09:17

is because taxes are the biggest expense

09:19

we have and the idea is you want to find

09:22

ways to go towards zero and and why do

09:25

you want to do that because you’re

09:26

smarter with your money and you’re going

09:28

to do better than the government and and

09:30

ultimately there’s no freedom if all

09:32

your money is going away in taxes the

09:33

eqrp allows you to get to a point where

09:35

you’re at zero tax and one of the things

09:37

we like is the current tax code meshing

09:40

real estate and the roth eqrp together

09:43



getting your money to zero tax when you

09:45

make it when you grow it when you pull

09:46

it out so it gives you a lot of options

09:50

to to have the right tool but if you

09:51

don’t have the right tool you may think

09:53

you have a vehicle but that vehicle

09:55

might be a 1950 ford that’s going to

09:57

break down and what we’re looking for is

09:59

really we’re looking for the ferrari the

10:01

thing that’s going to take you where you

10:02

want to go quickly

10:04

on purpose and decisively and that’s

10:06

what the eqrp really does it it allows

10:09

you to go

10:10

grow your your portfolio and and not

10:13

think gosh i wonder what joe biden is

10:15

going to do with my taxes

10:17

if you do it right you don’t care what

10:18

joe biden does because the tax can go to

10:20

zero permanently

10:22

yeah uh this it’s really important right

10:25

i think also with

10:27

the eqrp with as a real estate investors

10:30

you have these uh

10:32

some fees or or taxes are still being

10:35

charged depending on the type of

10:37

investment but with real estate you also

10:39

have

10:40

have that freedom where you even though

10:42

it’s a leveraged investment that you

10:44

don’t have to to pay taxes on that maybe

10:47

you can touch on that too right

10:50

kind of explaining why real estate is

10:52

really the ideal vehicle for for these

10:55

for these eqrp retirement funds

10:59

yeah this is a this is a conversation

11:00

that that i’ve had with people like tom

11:02

wheelwright many times they the

11:05

fairly well well-known accountant that

11:06

works with robert kiyosaki in the rich

11:08

dad organization and he’ll often say

11:11

don’t put real estate in a retirement

11:12

account and what he’s talking about is

11:14

an ira and the reason he’s saying that

11:16

is because if you put leveraged real

11:18

estate like a syndication if you if

11:20

you’re an investor in an apartment

11:22

syndication and you use an ira when that

11:24

apartment sells you’re likely going to

11:26

be paying 37 on most of your profits so

11:29

to give you an example if you put a

11:31

hundred thousand dollars into a

11:32

syndication for apartments and that

11:34

hundred turned into 200 you’re probably

11:36

going to pay about 22 to 25 000 in taxes

11:39

using your ira even if it was a roth ira

11:43

so people don’t realize this is going to

11:44

happen and it’s because of ubit tax the

11:46

unrelated business income tax totally an

11:49

option and when i say an option i mean

11:51

if you don’t want to pay it you can

11:52

avoid paying it and the way you do that

11:54

is you have the correct account which is

11:56

called the eqrp

11:58

we can move assets that are already

12:00

invested in an ira self-directed ira

12:02

into an eqrp and you can start fresh

12:05

with an eqrp it’s exempt from the tax

12:08

and so it’s really funny because people

12:10

say well why is that well sometimes you

12:12

just have to say it is what it is but

12:14

the reality is the tax code is very

12:17

complex and the 401 section of the code

12:20

exempted

12:21

leveraged real estate for people to use

12:23

their 401ks eqrps to to invest the iras

12:27

don’t have the exemption exemption so it

12:30

whether you’re investing directly or

12:32

whether you’re going to put a

12:33

syndication together and you’re going to

12:34

have investors it doesn’t make sense to

12:37

have an ira investing in real estate

12:40

syndications the only time you’d really

12:42

want to

12:42

have real estate outside of a retirement

12:45

account is if you were going to buy a

12:46

property and hold it for the next 50

12:48

years that can be really smart but if

12:51

you’re going to buy a property or invest

12:52

in something that you’re going to sell

12:54

in three to five years the roth eqrp is

12:56

the ultimate best way to hold that

12:58

property there’s no exception and

13:00

there’s no alternative to it

13:02

yeah

13:03

very good point right

13:05

again no one really knows why one is

13:07

exempt and one the other one is not but

13:10

it doesn’t really matter what matters is

13:12

that the option is there right and

13:16

unfortunately we have seen

13:19

right we see so many deals and we talked

13:21

also to a lot of passive investors

13:24

and a lot of them were

13:26

very surprised when they got hit by by

13:29

that ubit uh with with a pretty big

13:32

check right that they had to to write

13:35

and actually they were shocked well it’s

13:37

uh it’s retirement money that is

13:40

invested here why on earth do i have to

13:42

pay taxes

13:43

so

13:45

it’s really uh strange that no one has

13:48

been advising them right so they they

13:51

someone has taken the money allows them

13:53

to do that so-called self-directed ira

13:56

but no one was telling them look you

13:58

need to watch in what you invest in to

14:01

avoid some of these taxes right well and

14:04

and one of the things that’s really

14:06

disappointing is that we’ve run into a

14:08

lot of ira custodians that that say

14:11

we’re not responsible for telling you

14:12

and it’s true they’re not responsible so

14:14

they don’t really advise or coach or

14:16

mentor they just they say yeah maybe

14:18

it’ll happen or i’ve seen some

14:20

unreally unfortunate marketing that says

14:22

oh don’t worry about it i think

14:24

everybody should be worrying about it if

14:26

you’re investing using retirement money

14:28

you don’t want to lose a quarter of your

14:30

of your return because somebody doesn’t

14:32

want to tell you the truth and the truth

14:34

is there are really great options and

14:36

then there are options that are going to

14:37

require you to write really big

14:39

unnecessary checks

14:40

yeah that’s absolutely right and don’t

14:42

worry about it you may have a cpa who

14:46

doesn’t really know about the ubit rules

14:48

and they do not

14:49

uh point it out but then you slowly have

14:52

a look back by the irs when you get

14:55

hitting more right so it’s very

14:57

important to to understand what your

14:59

liability is regardless of whether

15:02

someone tells you it’s not a big deal or

15:04

not right

15:06

so it’s it’s only

15:08

i think this is a key piece that our

15:11

listeners really need to understand if

15:13

you have money in ira and you are

15:15

thinking about investing in in this

15:17

syndication and i know a lot of people i

15:19

just had a discussion last night with uh

15:22

with a couple that has a lot of money in

15:25

in ira

15:26

and i told them look you will get hit by

15:28

by that ubit if uh you need to make

15:31

changes before you invest in in

15:33

syndications they didn’t know about it

15:36

right the cpa didn’t tell them

15:38

uh so it’s still it’s appears to me

15:41

there is still a shortage of

15:43

of knowledge as well as education out

15:46

there to tell these individuals what

15:48

they need to watch out for when they

15:50

have a self-directed ira right it is

15:53

it’s a key piece that unfortunately a

15:56

lot of cpas aren’t aware of uh the the

15:59

tax code is complex it’s thousands and

16:00

thousands of pages and this is where

16:03

sometimes it’s important to think about

16:04

adding new people or maybe replacing

16:06

some people on the team because most

16:08

accountants

16:10

are overworked and they’re they’re

16:12

trying to keep up but it’s it’s hard to

16:14

keep up with everything and

16:15

you focus on your main thing

16:18

most of people’s retirement stuff fits

16:20

into a little box and the the stuff that

16:22

we do with the eqrp and the ira stuff

16:24

that’s out there is not something most

16:26

accountants have any knowledge about

16:28

because it’s too specialized and so if

16:30

they don’t focus on that they’re not

16:31

really going to know and by the time

16:33

they do figure it out that it’s too late

16:35

and the check has to be written so you

16:36

know we’ve we’ve been to some some

16:38

conferences like the real estate guys

16:40

and

16:41

great teachers in texas and they always

16:43

have people that know this stuff so it’s

16:45

really important to listen to the

16:46

podcasts and be at these live events

16:48

where people that are really thinking

16:49

and studying can get together because

16:51

that’s where you’re going to learn about

16:52

this most people aren’t going to learn

16:54

from their legacy teams

16:55

yeah absolutely it’s a very good point

16:59

so have you seen any changes

17:01

to the to the tax code to the rules uh

17:05

how you can fund and when you can fund

17:08

uh since obviously with korvik 19 all

17:10

the the deadlines have gone out of

17:13

window it appears

17:15

uh have you seen when it comes to eq

17:20

funding have have you also seen some

17:22

changes and are they permanent or do you

17:24

see it it will go back to

17:27

where it was previously yeah there

17:29

actually have been some pretty big

17:30

changes that just happened in the last

17:31

year congress changed the rules so a

17:34

couple of them

17:35

one of them is that it’s really great if

17:37

you you can set up a retirement account

17:39

specifically an eqrp for the previous

17:42

year so here we are in 2021 if you say

17:45

oh i made too much money in 2020 if you

17:47

haven’t filed your taxes yet you can set

17:49

up an eqrp for the previous year and

17:51

then fund it for the previous year

17:53

reducing your income maybe even

17:55

qualifying for the qbi which is the

17:57

qualified business income

17:59

deduction which is another 20 off so

18:01

there’s some really great things it’s

18:02

called retroactive tax planning which is

18:05

very unusual usually if you don’t do it

18:06

beforehand it’s too late and in this

18:09

case you can actually do that so that’s

18:11

a really big plus one of the big things

18:13

that changed as well because the

18:14

government is trying to figure out how

18:15

to get everybody involved they changed

18:17

the rules about the the old solo 401ks

18:20

where if you have a solo 401k and you

18:23

have even a part-time employee you can’t

18:25

have the solo 401k anymore so what does

18:28

that mean for somebody it means that

18:29

you’re really stuck if you if you ever

18:31

want to expand well the eqrp is set up

18:34

for people that have employees up to 50

18:36

employees where everybody gets control

18:38

and it’s the only one of its kind there

18:39

is no other option where you actually

18:41

have control for everybody including

18:43

those part-time and full-time so if

18:45

you’re thinking well i don’t have an

18:46

employee well maybe you might need some

18:48

help as you grow your business or your

18:50

investment portfolio you want to make

18:52

sure yourself you’re setting yourself up

18:53

correctly so you don’t blow up your

18:55

retirement account simply because you

18:56

want to expand and grow and i think that

18:58

that’s really important for people to

18:59

realize that those rules changed and

19:01

most of the websites that are out there

19:03

actually don’t talk about this people

19:05

are still acting as if nothing has

19:06

changed but that’s one of the things

19:08

about working with people that are

19:09

keeping up with the new rules and new

19:11


laws and we also see some changes coming

19:14

to equalize the environment meaning the

19:16

tax benefits tend to be the best for the

19:18

the wealthiest because if they get a tax

19:20

break and their income is taxed at the

19:22

highest rates that’s really good for

19:24

them but if somebody in the lower income

19:27

arena gets a tax break it’s not as

19:29

beneficial so we see things happening

19:31

like tax credits for retirement accounts

19:34

contributions we see some of that stuff

19:36

we don’t see any major overhaul but one

19:38

thing i do anticipate this decade is

19:40

that the roth account will get whacked

19:42

destroyed taken out of play because it’s

19:44

very expensive for the government and

19:45

what i i see likely happening there is

19:48

that anybody that has a roth account

19:49

would be grandfathered in and their

19:51

money would be in place

19:53

and why is that because if you look at

19:55

congress you look at people like mitt

19:56

romney who have a hundred million

19:58

dollars in his retirement account i

20:00

don’t think they’re going to go vote

20:01

against their own best interest so

20:04

no probably not

20:06

yeah it’s a good point but do you you

20:09

think that it’s going to go away

20:11

i think it’ll be it’ll be stopped it’s

20:13

so similar to when the self-directed

20:15

when the ira’s rules changed where if

20:17

you inherited an ira it used to be that

20:20

the person that inherited it could keep

20:22

the money growing and spend it over

20:23

their entire lifetime it’s called a

20:25

stretch ira congress said no we don’t

20:28

want families being able to keep their

20:30

wealth we want to have that money back

20:31

into circulation to be taxed so they

20:34

said we’re going to limit it this

20:35

happened two years ago we’re going to

20:37

limit it so you only have 10 years and

20:39

that made it really challenging for a

20:40

lot of people that relied on that but if

20:42

you already inherited an ira then you

20:44

still had your whole lifetime so that’s

20:46

what they tend to do they change the

20:48

rules but if you’re already in something

20:49

they say okay well you’re already in but

20:50

nobody else can come in i think that’s

20:52

coming with the roth here in the next 10

20:54

years

20:55

okay very good to know

20:57

uh you mentioned

20:59

the retroactive uh contribution into a

21:04

eqrp

21:05

so if

21:06

someone hasn’t filed yet for for 2020

21:10

right so let’s say the deadline is

21:12

september 15th

21:14

or october 15th depending on

21:18

what the situation uh personal situation

21:21

is

21:22

uh are you saying all the way to that

21:24

filing someone could could

21:27

choose to still

21:28

establish an eqrp and put funds into

21:32

that for 2020.

21:33

absolutely that’s exactly what i’m

21:35

saying all the way to the the extension

21:36

so could be september it might even be

21:38

october depending on on how you’re

21:40

structured and so you can put money in

21:42

there and and so what’s interesting is a

21:45

lot of people don’t pay attention to

21:46

that because they say oh that’s always

21:48

been the case with iras but who cares

21:51

it doesn’t really matter if you can put

21:53

six thousand dollars into something it’s

21:55

not going to move the d the dial but

21:57

with an eqrp you can put 58 000 or more

22:00

and if there’s a couple in a family it

22:01

could be 120 130 000

22:04

with kids it could be 200 000 see it’s a

22:06

really big opportunity for people to

22:08

look at what their income was in 2020

22:11

and all the way into the fall of 2021

22:13

being able to reduce that income

22:15

backwards so it’s a pretty big deal a

22:17

lot of money at play here saves a lot of

22:20

people on average we see people saving

22:22

about 20 000 in taxes by doing this

22:24

no sure that’s a very big deal right i

22:28

think

22:28

obviously for for some it might be a

22:31

concern okay now i have that money in

22:33

that eqrp now it’s locked up and i do

22:35

not really have flexibility

22:38

to work with that money what would you

22:40

say to them

22:41

i i would say that the the eqrp is a

22:44

shelter where it protects and grows your

22:46

money and you can do it without any

22:47

taxes at all and then when you pull it

22:49

out there are ways to get it out at any

22:51

age anton not just 59 and a half at any

22:54

age and do it tax-free no penalties no

22:56

taxes this is part of the strategy this

22:58

is why you have tax strategists not just

23:01

cpas i mean if you have a cpa you really

23:04

want that cpa to be a strategist so it’s

23:06

not just being able to get it out but

23:08

you can invest it in all these real

23:10

assets things like real estate and

23:12

physical gold and private notes and

23:14

private companies and crypto bitcoin all

23:17

these things so you have all the control

23:19

you’re not stuck in anything you can

23:21

pull it out at any point i know that

23:23

there are there are some people out

23:24

there that say i don’t think we should

23:26

do real estate or we don’t we shouldn’t

23:28

do a retirement account because we’re

23:29

stuck until we’re 60. and that’s just

23:32

not knowing what what how these work

23:34

because there’s ways to pull it out at

23:36

any age no penalty no tax you just have

23:39

to have the right information and use

23:40

the code instead of being ignorant or

23:42

listening to whatever google tells you

23:44

yeah so can you touch on some of the

23:46

options that one would have to pull some

23:49

money out without a tax consequence

23:52

or at least reduced consequence yeah so

23:56

i mean there’s there’s ways to use the

23:58

roth account and there’s ways to use

23:59

real estate because when you’re and

24:01

being a real estate professional or

24:02

having a spouse being a real estate

24:03

professional and converting money and so

24:06

it’s it’s a fairly complex strategy to

24:09

bring all these pieces together but what

24:11

we’re talking about is things you can

24:12

understand if each piece is

24:14

understandable taking money and making

24:16

it roth well if it’s roth there’s no tax

24:19

and if you if you’re a real estate

24:21

professional you can use cost

24:23

segregation to reduce your

24:25

you know to to reduce the income and

24:28

income is produced when you convert

24:29

money from pre-tax to roth so you put

24:32

all these pieces together and you

24:34

realize wait a second i could actually

24:35

pull out a million dollars at age 45 no

24:38

tax no penalty

24:40

what you do with it right so

24:43

yeah i mean it’s the the truth is we

24:46

have a lot more options than we we think

24:48

we do and it’s it’s about having the

24:50

right team so one of the things i like

24:51

about you is you understand that so

24:53

you’re always encouraging people to have

24:56

the right team members and not try to do

24:57

everything on their own i mean that’s

24:59

that’s that’s what any smart investor

25:01

does they encourage teams and they have

25:03

teams

25:04

yeah absolutely right so

25:07

it’s absolutely crucial right if you

25:09

don’t have that and if you rely on

25:12

on your financial advisor or your cpa

25:15

that uh

25:17

it’s just doing the regular tax returns

25:19

they just do not know about it right so

25:22

it’s it’s not that uh you could argue

25:25

well they should know about it the

25:26

reality is if you’re in a specialist in

25:29

a certain segment you are good at that

25:31

but you are not good in others right and

25:33

that’s where

25:34

building the right team is is so

25:36

important right

25:39

so damien that was really great i think

25:41

you added a

25:43

ton of value here to to our listeners

25:46

uh i really encourage anyone who has uh

25:49

who has an ira

25:52

and has been thinking about

25:54

self-directed investments right

25:57

obviously you all know that

25:59

very often

26:00

you you can invest in in equities you

26:03

can invest in

26:05

mutual funds and bonds and all that and

26:08

there is a place for that but i think in

26:10

terms of diversification

26:12

uh considering that usually a big chunk

26:15

of someone’s net worth is in

26:18

is in retirement accounts i think it’s

26:20

important to to do yourself a favor and

26:23

talk to professionals that really know

26:25

the benefits of

26:27

of alternatives and obviously when it

26:29

comes to real estate investments with

26:32

retirement funds

26:33

the eqrp

26:35

solution is is is the right solution out

26:39

there so you don’t get hit by that ubit

26:41

tax

26:42

so please do yourself personally fair

26:45

and reach out to to someone like damien

26:48

who has been doing this and studying it

26:51

for for a very long time

26:53

uh and

26:55

uh reader’s books right so he has he

26:58

he

26:59

did a book and so now you you can

27:02

uh now promote your book as well as

27:04

obviously have hope hopefully also

27:07

having your contact details that you can

27:09

share because that is as for someone to

27:11

starting out i think reading that book

27:14

is a is a good start but then it’s still

27:17

important that someone is actually

27:19

talking to you in person to really

27:21

perhaps grasp the the true

27:25

issues and that they can implement the

27:28

solution properly

27:30

yeah and the first step is really doing

27:32

something it’s taking a step so the i

27:35

think they what i’d love to have people

27:36

do is get a copy of the the summary of

27:39

the book which is the it’s like the

27:41

cliff notes it’s about 15 pages it’s the

27:43

report on the eqrp and you can get that

27:45

by texting the word eqrp to 72 000. so

27:49

when you do that you’re going to get a

27:50

copy it’s a digital copy of the the

27:52

report and then we’ll send you a copy of

27:54

the physical book and we’ll fedex it out

27:56

to you so all you really have to do

27:58

right now simple just text the word eqrp

28:01

to 72 000 and that will give you what

28:03

you need to start and learn and and even

28:06

if you can’t use it i guarantee there’s

28:08

somebody you know that this will change

28:09

their life and so it gives you the

28:11

opportunity to be a bit of a superhero

28:13

and help somebody you care about stop

28:15

losing all their money to taxes and fees

28:17

and penalties that they they really

28:18

aren’t necessary

28:19

yeah absolutely

28:21

uh so thanks again damion to uh for

28:25

coming

28:26

coming on with uh with me today you had

28:28

added plenty of value and the hope that

28:32

you

28:33

created the wake up call for for a

28:36

number of listeners that

28:38

there is a solution to the retirement

28:40

funds and that

28:42

all what they have to do today is taking

28:44

action

28:45

that’s awesome i appreciate you having

28:47

me thanks so much for the opportunity

28:49

yeah thanks damion