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