Infrared space observatory
Getting started in investing your money is very similar to running a marathon. It's almost like the couch to 5K. If you're just starting from your couch, you don't just get up and run a 5K. You might be able to do that, but you might get hurt. Key Talking Points of the Episode [01:57] Invest with PreREO! [02:50] How is investing similar to running a marathon? [04:35] Why do you need to handle investing in phases? [05:32] What should be your first goal? [07:07] What should you do with the money you're saving? [08:01] What comes after building your savings? [09:00] Should you be max funding your 401K? [09:58] How can you start getting into investing? [11:19] Why should you consider Series I Savings Bonds too? [12:30] How can I Bonds help you outpace inflation? [13:48] What investments can give you better returns? [14:50] What is the ultimate goal when you invest? [15:52] What happens when you reach the finish line? [16:32] What options do you have when you're getting started? [17:22] How can passive income change your life? Quotables “Your goal is to just start building a small amount of money in savings and hold it for a time in just a savings account.” “Don't take all your cash and empty it to either pay off debts, invest, or do anything else. You do not wanna gamble this money.” “Do not fund your 401Ks and your IRAs. Forget those things. Again, focus on your savings and build up that liquid reserve.” “Just so you know, these I Bonds, you can do as little as $25 invested. You can invest as little as $25, all the way up to $10K per person.” “You have so many different places you can start from, no matter where you are. You always have a win.”
Scott and James discuss what planning points to consider during a recession. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - What Can We Control 3:25 - Cash Flow 8:12 - Unemployment 10:13 - How To Withdraw in Retirement 14:42 - Roth Conversion 16:51 - Loss Carryover 19:33 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don't miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here
PLEASE TAKE OUR LISTENER SURVEY - BY JUNE 10: https://forms.gle/utJU1SAZsNY782XK6 How to advocate for your own financial wellness with freelance theatre designer Carl Faber. Topics: ⭐️ Include a cover page in your will ⭐️ Financial plans are not intimidating ⭐️ Easy way to get a picture of your finances ⭐️ Ethan learns something new about ROTH IRAs We revisit past topics: ⭐️ I-Bonds yielding 10% ⭐️ Dave Ramsey is the Dunkin' of finance ⭐️ LinkedIn for entertainment professionals THANK YOU, PATRONS! Because of your support, Artistic Finance has provided 100% FREE resources. ⭐️ 125+ hours of content ⭐️ Helped artists with taxes, IRAs, & investing ⭐️ Given $1,000+ to artists and arts organizations Access the bonus episode at: https://www.patreon.com/posts/100-be-your-own-66291238 Bonus Episode Topics: ⭐️ Bonds ⭐️ Reverse budgeting ⭐️ Advice for young theatre designers Takeaways from the episode: ⭐️ PersonalCapital.com is an easy and free to see your financial picture ⭐️ Add a letter of instruction to your will ⭐️ Financial plans can be easy - your financial life is also your life. ⭐️ ROTH IRA matching can incentivize young people to start investing Carl's Website: https://carlfaber.com/ Carl's LinkedIn: https://www.linkedin.com/in/carlfaber/ Carl's Used EV Article: https://typefully.com/cxfaber/UOp2kz6 Personal Capital - free personal finance website - like Mint but more customizable: https://www.personalcapital.com/ Using HELOC as Emergency Fund: https://www.mrmoneymustache.com/2011/04/22/springy-debt-instead-of-a-cash-cushion/ “My Friends” by Taro Gomi: https://www.betterworldbooks.com/product/detail/9780811812375 Recommended: Bogleheads Forum: https://www.bogleheads.org/forum/index.php Knowledge Project Podcast: https://fs.blog/knowledge-project-podcast/ Just Enjoy It While You Can: https://eringloriaryan.bulletin.com Past Episodes: LinkedIn: https://www.artisticfinance.com/episode/mdlEKmyKcDXevmphIQg8/LinkedIn-for-Artists-with-Dawn-Chiang Dave Ramsey: https://www.artisticfinance.com/episode/iORe0bxkXkq2bLq3MWgX/Dave-Ramsey-Financial-Advice-with-Greg-Ludlow Bonds Investing: https://www.artisticfinance.com/episode/Ls2svcghok0FemQVcNBp/Bond-Investing-with-Maithreyi-Gopalakrishnan Credit Cards 1: https://www.artisticfinance.com/episode/sHzGdIBq188DTPlNpJuq/Credit-Card-Debt-with-Joe-Longthorne Credit Cards 2: https://www.artisticfinance.com/episode/q4rn0omyiRhlNCPQATcs/Credit-Card-Habits-with-Tony-Johnson Credit Cards 3: https://www.artisticfinance.com/episode/nLk98PU9fuN6iQn6VUp0/Credit-Card-Advantages-with-Marc-Santos
Drew flies solo in this edition of the MRW Podcast and as usual, does a fine job talking with listener's and solving their financial questions. A few of the concerns that Drew address' are, Medicare, Social Security, IRAs and real estate. The podcast is like Cracker Jack and is best savored at a slow and steady pace; it's an adventure.
D++ is a computer engineer, coding professor, entrepreneur, and #Bitcoin educator known for her work in pioneering PLEBNET, a community dedicated to furthering Bitcoin's Lightning Network adoption worldwide. She also recently started corporate Bitcoin education company Cypher Institute. Follow her at www.twitter.com/D_plus_plus REFERRAL LINKS: Coin Stories is powered by BITCOIN 2023, which will be the BIGGEST BITCOIN EVENT IN HISTORY held in April 2023. If you missed Bitcoin 2022, make sure to head to @Bitcoin Magazine to find videos and highlights of all the biggest events and panels. You can get an early bird pass for Bitcoin 2023 at a steep discount if you head to: https://b.tc/conference/2023 *** Okcoin is on a mission to make crypto investing and trading easily accessible to anyone around the world. We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto. Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. We are a collective of global citizens with a common passion to help decentralize finance and level the economic playing field for everyone around the world. Visit https://www.okcoin.com/natalie for $50 in Bitcoin when you sign up. *** With iTrustCapital, you can actually invest in crypto without worrying about taxes, or fees. iTrustCapital allows their clients to invest in crypto through an individual retirement account, or an IRA. IRAs are tax sheltered accounts, which means all your crypto trading is tax-free and can even grow tax-free over time. The best part is that it's totally free to open an account, and there are no hidden fees. You don't need to pay any monthly subscription or membership fees either. If you open and fund an account, you will get a $100 funding bonus added to your account. To learn more, click the link below and open a free account to learn more. https://itrust.capital/nataliebrunell *** Fold is the best Bitcoin rewards debit card and shopping app in the world! Earn Bitcoin on everything you purchase with the Fold's Bitcoin cashback debit card and spin the Daily Wheel to earn free Bitcoin. Head to https://www.foldapp.com/natalie for 5,000 in free sats! #bitcoin #cryptocurrency #inflation Timecodes: 00:00 Promo codes 01:58 Explaining the meaning behind D++ 04:41 What is C++? 05:12 Always interested in computer science? 05:42 Discovering BTC 06:16 Understanding Bitcoin mining 06:48 Simplest explanation of Bitcoin mining 07:38 Hashing operations 10:52 SHA-256 13:15 Same input will yield same output 14:53 SHA-256 demonstration 17:02 Bitcoin mining and blockchain demonstration 18:47 What is a nonce? 22:00 BTC mining computers aren't solving cryptographic puzzles 23:50 Finding the nonce 26:46 iTrustCapital break 27:34 Fold app break 28:07 Difficulty target adjustment and importance 30:04 Difficulty target is like a bicycle lock 32:08 Miners and nodes 33:17 Why is understanding BTC intimidating? 34:01 Why is the Bitcoin network rock solid? 34:47 Energy consumption 36:39 Mining pools 38:12 Threats to Bitcoin? 38:31 Cypher Institute: corporate Bitcoin education
On today's edition Ask Suze & KT Anything, Suze answers questions about trusts, non-working spousal IRAs, medical deductions, unused credit cards, being a trader and so much more! Take advantage of the Ultimate Opportunity Savings Account with Alliant Credit Unionat: https://bit.ly/3vEUTZW Join Suze's Women & Money Community for FREE and ASK SUZE your questions which may just end up on her podcast! To ask Suze a question, download by following one of these links: CLICK HERE FOR APPLE: https://apple.co/2KcAHbH CLICK HERE FOR GOOGLE PLAY: https://bit.ly/3curfMI See omnystudio.com/listener for privacy information.
Sam Primm is a Real Estate Investor, Educator with over 40 million dollar Real Estate using people's money He started a successful Rental Real Estate company, Wholesale company and he does Flips as well. In this episode we talked about: * Sam's Bio & Background * The First Investment in Real Estate * Using Other People's Money to Buy Real Estate * Network Building * Private & Institutional Lenders * Capital Structure * Interest Rate Risks * Journey on Social Media * The Process of Property Acquisition * Mentorship, Resources and Lessons Learned Useful links: Book “Pitch Anything” by Oren Klaff Book “Eat that frog” by Brian Tracy https://www.instagram.com/samfasterfreedom/?hl=en https://fasterfreedom.com Transciption: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name is Jennifer gala and you're listening to working capital the real estate podcast. My guest today is Sam prim. Sam is a real estate investor educator with over $40 million worth of real estate using other people's money. He started a successful rental real estate company, a wholesale company, and he does flips as well. We just kind of went over a little bit about his portfolio right now, Sam, how's it going? Sam (45s): It's going well, man, it's going well, appreciate you having me on. Jesse (47s): Yeah, thanks so much for coming on. I think one thing we miss here in the intro is just the fact that your social media presence with real estate is pretty pronounced. It's part of the reason that we connected, I saw what you were doing online. And I said, you know, I think that listeners would get a lot of value about you coming on, telling your story, and also talking a little bit about that presence online. So thanks for coming on. Really appreciate it. Why don't we take a couple of steps back as we normally do here and talk a little bit about your background and how you got into real estate, you know, from, you know, where you started and where you're at today. Sam (1m 23s): Yeah, for sure. So I don't have the most exciting story, like, you know, some guests and some people I know that, you know, came over here or grew up super, super poor and didn't have, you know, much of an upbringing. I had a normal upbringing, you know, my parents were middle-class. My dad was an engineer. My mom was a teacher. My dad worked for the same company for 40 years and retired. That was kinda what I was grown up in. That was kind of how I was raised, you know, save money, save money, save money, invest, and went to college and was kind of planning that path. But kinda during college, I started a, a house, you know, painting company with my buddy. We started to kind of paint in the summers, painted exteriors of houses and fences and decks, kinda got some entrepreneurial itches and then went to school and finished school and then, you know, graduated and got a job out of school. And he got an engineering degree and we were just doing our own thing. And then we started to connect and talk real estate and we decided to go in and buy one house a year for 10 years was our goal. And just kind of start to just see what real estate can do for us on the side. And that kind of ballooned into what I'm doing today. I kind of really kind of ventured away from that traditional mindset of work for somebody else, your whole life. I was able to quit my full-time job and go full-time in real estate a few years later and really enjoying now showing other people that you do have an option. You can do the traditional path, but if that's not for you or you can't do that, or whatever, whatever the reason may be, you do not have to work for someone else, your whole life. You can do what you want when you want and real estate's the best, you know, kind of bridge to help you get to that life. Jesse (2m 53s): So, Sam, what was the first investment in real estate that you, that you ever did? What did that look like? Sam (2m 60s): It was a single family rental. I actually bought it in 2014 into 2014, bought it with the thought that you got to, I was going to fix it up and sell it and take that profit and put 20% down on a rental. So back then, even when I started, you know, investing in real estate, I thought 20% down on rental property. So, all right, I don't have 20% to put down, so I'm going to flip a house, take that profit and then put 20% down. So I thought for every, you know, one rental I wanted to buy, I had to flip one, so two houses to get one rental. But during that process, I learned a, about the cash out refinance and kind of leveraging money and leveraging bank funds and all that, all that stuff that I'm sure a lot of your viewers know about, but I didn't know about it. And I ended up actually turning that one into a rental that worked out pretty well. So just, you know, jumped in and was figuring it out and then found out about refinancing and, and all that cash out stuff. And you haven't looked back since, and haven't had to put 20% down of my own money on anything since. So Jesse (3m 55s): That's great. So in terms of the actual debt side of the equation, when you are looking for properties and over your career, when you've been looking for properties using other people's money, I mean, people hear that and they, you know, intuitively understand what that means. You know, you understand what the words mean, but in terms of actually executing that and doing it in a way that doesn't put you in a unreasonable amount of risk, how do you approach that? And what does that look like for you when you're saying you're using other people's money to buy real estate? Sam (4m 26s): Yeah, for sure. Cause if you're, if you're not using your own money, you're putting 20% down, you know, you could be overleveraging yourself, like you said, and putting yourself at unnecessary risk, you know, shift in the market could sink you. And, and that did a lot in oh eight, it's sunk a lot of people. So the key to using other people's money in your own money honestly, is making sure there's equity in the property. Everybody thinks that banks care about that 20% down when you're buying rentals, they don't, they care about that 80%. They want to just make sure that they are not over leveraged themselves and that there's 80% equity in the deal. So if you can creatively use somebody else's money to find distressed properties, you know, fix them up, manage them well, whether we're talking, you know, single families, commercial multi-families, whatever it is, if you can just find the deals out there and use other people's money and, you know, find a good enough deal and increase the value enough that there is at least 20% equity at the end, then you're not over leveraged. If, if you bought a million dollar apartment complex and put $200,000 down, there's 80% equity. If I've, you know, did the same thing and use somebody else's money and have $800,000 of somebody else's money in the deal, and it's still worth a million, why it's the same position? There's, you know, there's, there's not any risk there. As long as that equity is built in, obviously there's some more intricacies that go into it and there's a ton different ways to do it. But I think the key concept that you brought up and kind of wanted me to drive home is as long as you're buying at a discount and managing it properly, you shouldn't over leverage yourself. If you do it the right way, it's not buying things at market value, you know, a hundred percent of costs, a hundred percent of value, a hundred percent of loan. It's, you know, we're, we're deep, we're much less than that. There's a lot of equity built in at the end of these deals that just grows over time. Jesse (6m 5s): So during that time 2014, and I guess the, the few years after that, that got you to where you're at today, the actual network that you had, the people that you went to to actually raise money from, how did that evolve? You know, did you have somebody in the beginning that you were doing this with, that kind of showed you who the ideal people would be that would invest with you? What did that look like? Sam (6m 25s): Yeah, kind of. So I knew that you could use other people's money to buy and fix up a property. I think, I don't remember. I think that flip or flop the torque and Christina moose or whatever, the ones that was on HTV. I remember seeing them go to like their lawyer's somebody's house and they would get the money and then they would fix up the house and they would split the profit with them. So I knew you could do that. So I knew that you could borrow money to buy and fix up a house. I just didn't know about the 20% down. And that's what I did on my first property. I borrowed the money to buy it and fix it up. It was from like a kind of a friend of a friend kind of thing. It was one of my dad's friends that owned a business. I'd known him growing up a little bit and he'd always talked about, you know, if we ever get into business, you know, he'd like to help me out kind of like a, a mentor type thing, but he wasn't a real estate investor more just on the business and mindset side of things. And we talked and, you know, met a few times and, and showed them the plans and show them what we wanted to do. And he said that he would be willing to give us, you know, you know, a hundred thousand dollars to buy and fix up a house. If we found something that worked and showed him the deal and ran through the numbers and we did that. And then we did it again. And I continued to use that same private lender for, for a long time. My first, first three or four years in investing in real estate, I had a full-time job. So it probably maybe a 20, 20 rentals or so. So it was good, but it wasn't anything crazy. But then after that, you just make connections and know the right people and that lender talks to other people. And then eventually we, you know, got more money than we know what to do with now, just as far as, you know, sourcing deals for private lenders, it's, it's just, it can be tough to find private lenders. So I was pretty lucky, but I always tell people whether it takes you two months or two years to find a private lender, always be looking one private lender can change your life. There's other, there's other options. In the meantime, you can wholesale, you can use hard money, you can use lines of credit, you can do a ton of different things. Self-directed IRAs, all those are great. But, you know, using a, having a private lender that has flexible terms that will lend you a hundred percent of purchase and rehab on, you know, whatever the property may be is life-changing so be looking for one, you may stumble across when, right away, you may not, but don't give up because one can change your life. For sure. Jesse (8m 27s): And what was the, I mean, flexibility, you mentioned that there w what are the other appeals that you have with private lenders, as opposed to institutional institutional lenders for what you're trying to do? Sam (8m 38s): Yeah. So private lenders are, you know, their flexibilities by far the biggest one. So, you know, if I'm buying an apartment complex, I'll go to private lenders and they'll put 20% down. And then the other 80% is institutional. Whether it be, you know, government money, Fannie, or Freddie, or whether it be, you know, bank money, but they're, they're going to be in second position. Then the private lender is okay with that. It's, you know, most hard money lenders or other institutions won't want to be in second position. They're going to want to be in first position to be most secured. So they're flexible because you have a relationship with them. There are people that, you know, or people that, you know, know that understand real estate that don't usually, they don't have millions. It's usually it's, you know, I just had a student the other day that was like, I can't find a private lender. And then all, you know, all of a sudden he was talking with a real estate agent that he was trying to buy houses from. And that agent said they always want to do invest, but they don't have the time or knowledge. And they had an extra 150 green, you know, they didn't have millions, but they took some out of the stock market and they had that and they're willing to invest with them because they knew them. So it just comes from different sources. It usually doesn't come from a rich uncle or even a rich friend of your dad like minded, but, you know, there's a ton of different places. You can find them. And they're just flexible. They're understanding. I think a couple of the second deal I did, we couldn't pay back. The private lender has full amount plus interest. So he let us roll that into the next deal. And just things like that. There's flexibility being second position on terms, and I'm on lengths of things. And, you know, when you're dealing with somebody that they have relationship with built with, you can talk about that when you're dealing with these bigger institutions, they're just a number on a spreadsheet to them. They don't give a, they don't give a crap if you had an issue or not. Jesse (10m 10s): Yeah. I feel like when you're dealing with private lenders, if the deal goes sideways, God forbid there, you know, you want to work with the person, the person typically wants to work with you where it's the bank. Like you said, if you're just a number on a spreadsheet there, you know, they can be a little bit more aggressive and saying, yeah, sorry, like this, we're going to take this action X. That might be pretty detrimental to your investment in terms of the, the, what you described there. So the 20% down from a private lender and then the balance from say an institutional lenders. So that to me is a very similar or very common for a short-term kind of, you're basically trying to stabilize an asset or you could potentially be flipping it. How do you look at the capital structure when you're dealing with more of a longer term, hold on your real estate. Sam (10m 54s): So everything, and we've done this a few times now, so I own six, six apartment complexes, and I've done this on three of them and three of them in the process of doing this. So like, what I've done in the past is for one of my second apartment complex, I bought it. No, nothing big. I haven't done any huge deals yet. This was a 32 unit. So what we ended up doing was we bought it for 1.1 million. So we've got 20% down from our private lender. So he lend us 20% down, which I guess is 220 grand. We got an $880,000 mortgage from the bank. So it was worth a little bit more than that when he bought it. So there's equity built in, but we improve the building over the next couple of years. You know, we increased cashflow by raising rent. We use some of that to fix up the property and we, you know, got efficient with the expenses and managing and just took care of everything and just kind of turn the building. Wasn't a nightmare, but we turned it around relatively quickly and just two years. And we were paying the private lender a little bit out of cashflow. And then two years later, it appraised for 1.5 million. So we took some equity out. We refinanced at 80% and paid him back as two 20 plus interest. And now we own it and we own it. Long-term and, you know, we have a one point had a one point, you know, one, something million dollar note on it. It was worth 1.5. And then two years later, which was last year, just the price for 2 million. So it just kind of shows you that you, you get one of these assets and you can force the value in force appreciation by being efficient and raising rents. You can create so much equity so fast that you can do these short term. I call them short term burst deals in two or three years. You can, you can reposition an asset and create enough equity and value by you controlling the asset properly to get enough to pay him back plus interest and move on to the next one. It's just kind of a rinse and repeat thing. I haven't, you know, done the syndication route where you're raising 20% from, you know, lenders that you're going to pay back over the next, however many years or, or anything like that. But mine's a little bit more of that, you know, smaller scale. But if you do it enough, you know, like I said, I got 40 million that I own a hundred percent of you can, you can scale pretty quickly. Jesse (12m 57s): Yeah, for sure. I mean, there's good money to be made. And both strategies might find the, like you said, almost a, like a, a variation of the burst strategy where you are buying, holding, or refinancing, renting all the RS. But if you do the syndication route, it's basically the same thing. I, the only difference would be an equity portion coming from LPs. So we, we did something very similar recently, and it is just a larger version of buying that single family house and, and doing a, doing a burst strategy with, so in terms of the, where you kind of see the market right now, obviously we're in a time right now, it's Q2 20, 22 interest rates have continued to go up. How do you look at the risk of your deals in terms of interest rate, what you typically keep in reserve? Like how, w from a risk standpoint, how do you, how do you view your, your real estate acquisitions? Sam (13m 51s): Yeah. Interest rates have gone up way more than I thought they would way quicker, but even, even with that, I'm not, not overly concerned. A majority of my portfolio, we have tied up at, at 10 year arms, you know, tenure. So the rate's not going to just, I guess for eight more years now, we locked them in a couple of years ago. So majority of it is eight is eight more years of our current rates. Modem is non-recourse with some government and funding, but as far as going forward with the current purchase, I'm just keeping that into account interest rates are going to be a little bit higher. If we do a deal now, or we have a three-year arm or something that probably going to be a little bit higher, but I don't think they're going to be substantially higher. And now that my portfolio has got to a point where I'm just trying to add good assets to it, I'm not worried about, you know, they're all good deals. They all cashflow on their own, but I'm just looking at it as more of a portfolio that I'm going to have for 20 years. So a little bit of interest rates, a little bit higher on the portion of the portfolio right now, isn't extremely concerning to me. I don't love it, but also going with higher interest rates, rents more rents going up every, I think I heard the other day or read something rent's going up every year in the past, like 90 years, except 2008 or 2009, like one is the only year rent's ever not gone up. So with increase interest rates, you also have increased expenses. We're getting more efficient in management with property, with software, with things like that. So you can offset some of that extra interest on that. You'll be paying with a higher, with a little bit higher interest rate, but you can offset that with just being smart and efficient and just scaling and not worrying about, you know, having to spend a little bit more. I feel like if your deal hinges on 50 basis points, you'd probably buy in too deep. Anyway, I understand this gone up more than that recently, but in the, in the commercial game with a small local banks who I deal with, it's it hasn't gone up. It hasn't gone up near what the residential has. That's right. Not to get too into a, you probably know this better than I do, but the, the residential, the mortgage that people hear about this going up like crazy is based on the ten-year treasury, what, what we borrow at the small local banks that I deal with. And part of the reason it's based on the fed funds rate, and that's barely gone up. So they're kind of based on two different things. And, you know, you can take advantage of one while the other one's, you know, doing something. And so there, there's always some way to be flexible and get around it. I, I'm not thinking that you're not going to be able to invest in real estate because interest rates are too high, but that's kind of how I look at it. W what do you think about that? Jesse (16m 10s): Yeah, I have very similar view. I think the 50 basis points comment, I think it actually is accurate because even though rates have gone up higher, if you're doing an analysis and underwriting a deal and say, you're playing Monday morning quarterback, and you're in the deal now, and rates have gone up. If you didn't, if you didn't have some sort of sensitivity analysis that gave you a bit of a range, you don't underwrite a deal and go, okay, I can't go higher than this. You give yourself a little bit of padding. So you, yeah. Even with the padding, you might be, you might be within 75 bips or 50 BEPS. And it, like you said, if that's going to kill your deal, then you've got bigger problems to worry about. I think the, the different approach that we're taking is just looking at things banks, when we're doing refinances or bef before LTV loan to value was a lot bigger piece of the pie. Now, debt service coverage ratio is which makes sense, right there. They're being cognizant about how much you have in cashflow. And it kind of, I think every once in a while, every five, 10 years, we need a little bit of a jolt in the real estate industry because we start getting away from the fundamentals and then we kind of need to be brought back that cashflow is, is a key aspect of what we do. So I think, you know, provided that we don't go into a global pandemic again, which is kind of, I only laugh. It's, you know, it's not funny, but only ironic in the sense that we always say, like, you know, caveat this, as long as this doesn't happen, it will be okay. Now that we have seen something very intense, like the last two years, I think investors will be a little bit more prudent, but provided that we don't have anything crazy geopolitically going forward. I think that it's not unhealthy to have interest rates go up a little bit and values of cool off, especially in some of the major markets, you know what I didn't even ask. What a, which market are you currently investing in right now? We're Sam (17m 58s): St. Louis, Missouri, everything. Everything's here within an hour, hour and a half of a, of St. Louis on the Missouri side. So yeah, everything's here local in the Midwest, not the most exciting city, but it's a great city to own rental properties in and invest in is, is pretty stable. You don't get the swings. So it's, it's a good place to be. Jesse (18m 16s): Yeah, for sure. What, switch gears a little bit here and talk about this presence on social media. It's pretty fascinating to me, especially in our space because, well, I guess any space you get all these quotation gurus online and posting random stuff, and just kind of filtering through a lot of that. I saw the content you were posting really interesting, engaging educational. You kind of go through some of the deals. We'll put a link up for listeners to check you out on Instagram. And I assume you, you know, you have a link for YouTube, but talk a little bit about that, that journey on social media as it relates to real estate. Sam (18m 52s): Yeah. So I just started posting a little bit on Facebook about what I was doing, you know, and drummed up a pretty good amount of, you know, interest from just friends and family and people that didn't know that I was investing in real estate. They just thought I had that full, you know, my full-time job. And so that kind of started to get some traction and, you know, it didn't really think a ton of it. Then I went full-time in real estate in 2018 and was focused on growing my rental portfolio and growing, you know, the flipping company and doing all that for a good year and a half, two years and occasionally posting on social media. And then we got those businesses to a pretty stable place being my business partner, Lucas, and kind of had the idea of you run those, keep those going. I'm going to try to, you know, get into this education space and try to educate people what you're doing, because the minimal exposure I had was just inundated with people. How did you do it? Can you teach me how to do it? How do you do it? You know, so I thought, well, let's, let's try to, you know, make a social media about it and try to maybe create some type of course or mentorship. So I just started by just giving away as much as I could for free on YouTube and then Instagram and slowly getting some traction. And then Pope did Tik TOK and got made fun of for a while. But I posted on Tik TOK once a day for 30 days and said, I'm just going to give it a shot. And this was back in 2020 middle to end of 2020, and then that blew up and then everything else kind of just followed from there. You know, ticktack saying is it all starts on Tik TOK? And for me, it kind of did that kind of gave me the credibility to grow the other platforms. And like, what you said is what I do. I just try to post informational stuff. I don't overreact. I could have a bigger following if I was a, fearmonger not going to name any names, but the people that have had that YouTube thumbnails for five years in a row saying the world's ending and the market's going to crash, eventually they're going to be right. But you know, those people that do that negativity and that just kind of drove me crazy. And also I knew somebody that had done three bird deals and wrote a bird book. So I was just like, come on. So anyway, so I decided to, to teach and go in a little bit more and go full-time into it. And the last I've been doing social media for about years. And as you alluded to, you've got a decent following on tic-tac YouTube and Instagram, and just trying to provide as much education as I can. It's fun. Obviously I can make money from it if people want, want me to educate them further, but regardless, it's just a good place to, you know, be creative and have fun and teach people and show them that there is another path out there that real estate can be fun. And it's a, it's a good thing to invest in and so great way to get free eyeballs. Jesse (21m 13s): So I don't think I connected with you on Tik TOK, but what was that 30 days like, was that just I'm going to post some deals, some, some tip, but what did that 30 days look like? Sam (21m 22s): I just, I just was posting and at the time my Instagram was probably like 500. My YouTube was probably like a thousand, I don't know. And I just wasn't getting as much traction on them. So I thought let's hop on Tik TOK. I had somebody told me that people were talking about real estate. I thought it was just a place for people to dance and you know, what it's turned into now, craziness. But so I got on not early, but kind of early. And then I just posted once a day for 30 days. And I think my fourth video got a hundred thousand views and I was like, holy cow, it was like a 15, 22nd video. You know, it makes sense now that people can scroll and see, you know, five different people in one minute, the only platform that really allows for that. But yeah, and then just kind of got some traction there and then other social media started to grow and then it's kind of the staple. I, I don't even, it's insane. I have 1.5 million followers on Tik TOK, and it's just like, that is like a city. And then when it does bleed over to the other platforms and now, yeah, and now that tic-tacs allowing for longer videos and things like that, I'm trying to leverage it to, to, to push people towards the other social media platforms. Cause tic Tacs fine and all, but you know, in five minutes, someone probably sees 50 different people on Tik TOK in five minutes. They've see probably 10 people on Instagram in five minutes. You just, usually one people on YouTube and same with podcasts. So the goal is to push people to the longer form content, to warm them up and teach them more. But just taking advantage of what's out there. And it's a lot easier to make a 32nd video than an engaging 30 minute podcast. So that's, that's what I was doing for a while and still do. Jesse (22m 53s): Yeah. And it's, you know, like we're talking right now, if we probably end up putting this on YouTube, you know, it's one thing to have this story. Some people, you know, you, I find a lot of people just like people are visual learners. I find we, we remember stories better. You have this long form aspect of, of Sam prim they'll remember certain aspects, but you know, like at some point in this conversation, we said, DSCR, you know, that's a 32nd video for tech doc or for Instagram. Right. But you can't get the, well, you can only get so much information out there in the short form. So that makes sense that you kind of capture them there, bring them over to longer form content. So in terms of the educational stuff, what type of, what type of stuff are you putting out there? You mentioned the course that you had. Sam (23m 34s): Yeah. So Joe, I have a, I have a mentorship currently, you know, it's a lot of different things that go and it, but basically it's everything or, you know, everything I can put into that content about creating a rental portfolio using other people's money. There's 250 videos I put in there because no one likes to sit down. No one has an hour free time, or usually they don't. So I spent about eight months making five to 10 minute clips of every single step of the way. So someone, if they got a free 10 minutes can just watch to my videos and learn a little bit or poke around and see. So there's that, there's a closed Facebook group. There's weekly mentorship calls, group mentorship calls, and then all the resources you'll need. So it's pretty in depth and it's pretty comprehensive. You know, we just launched it about six months ago, had a little over 500 people sign up. So it's, it's not, it's it's for people that are willing to take action. We'd one of the questions is making sure that they're willing to take action. We just don't want to take people's money just to take their money. If they're willing to take action and it's a good fit for you, but it's been fun. And it's just kind of one of the trickle down effects of getting a lot of eyeballs, a certain amount of those people will want we'll happily give you money to teach them further. You know, we're not holding a gun for anybody's dad to sign up. So it's, it's been, it's been a fun thing that I don't really push a ton. A lot of people don't even know I have it that follow me on social media. So I kind of like it that way. Jesse (24m 50s): Yeah. I mean, it's also too, it's a reflection of, of yourself. So this idea of just, you know, signing up a million people in the short term is, you know, a lot of people do it, but if it's something that you you're trying to build and you want it to be quality, it makes sense that you want people to actually be in there engaged because unfortunately, a lot of people, you know, we've all been guilty of it, but there are a lot of people that consume a lot of great content, but never take any action with it. Whether it's a finance real estate need, it could be anything. So it's, it's definitely one of those things you want to have that action piece connected to the actual consumption of, of information. Want to just hop back to the real estate side of things. So, one thing that we talk about with a lot of guesses, their process for acquisition now more than ever off-market deals are, seem to be the route that a lot of people are going in terms of finding properties. We'll see if that changes with the changing environment out there. What's your process when you're looking to acquire properties. And maybe you could talk about if, if it has evolved when, since you started out. Sam (25m 54s): Yeah, it has. For sure. So at first, when I was, you know, just doing this on the side, I was, you know, buying things, certain things were on market, you know, back in 2015, 16, it was a little more common to find some of these on market deals. So that's what I did at first. And then through some local wholesalers, you know, people that were out there doing the work themselves and, and drumming up the deals and bringing them to me. And then we, you know, went full-time and have our house flipping company now. So we have five full-time buyers. That's all they do every day. They buy between 30 and 60 houses a year and they go and find the deals and drum up and talk to other wholesalers and connectors and real estate agents and lawyers and senior care facilities and all those kinds of things we buy. We bought 252 houses last year. And I think like 165 of them were through no marketing spend all just through networking and our, and you know, going to find people. And then we also do the, do the advertising. You know, we got Facebook and AdWords and SEO and all those. So we do a mixture of, you know, you know, actual ads and then a mixture of networking for the sort of the houses. But for the apartments, that's a little bit different, you know, we've done some mailers specifically to owners, but we're, we got most of our deals. I've just been dealing with local brokers and, you know, local people that are wholesale on those deals. And, you know, people that come across these cause you know, the commercial space is a little bit different. An agent can get something and you kind of have a pocket listing and put shell it out. They don't have to blast it to everybody like they do on the residential side. So yeah, just getting to know people and networking our last three apartments we bought from the same broker that he brought to us first because we were able to perform on one. So relationship-based, I guess is the key to what we've done. It takes time, but it takes time upfront. You'd be friendly and get to know them, offer value. Then you get a gravy train of deals coming. And yet it takes a little bit of time, but our last three deals I've been through one guy. I mean, we'll probably buy 20 apartments from him in the next 10 years. So that's well worth it. I'm spending some time, you know, you can flood the market with advertising. That's an option, but not everybody has the money or knowledge to do that. So anybody can go network and market with people and, and, you know, come across deals that way. Jesse (27m 56s): Yeah. And it's beneficial for him as well. Right. You have a qualified buyer and he knows that when he has that pocket listing, that you're going to be one he shows. I think it's, it's just, it's interesting to see the different approaches people take. Like for, you know, a lot of people come in with mailers. I found with our market it's, hasn't been, as we haven't had seen that much advantage or that much output from mailers, but I still call direct. I'm a broker by trade. So it's a little different in the sense that, you know, I get the free quote freebies of CoStar Altice, a bunch of different software pieces that when I need to find a corporate search for a numbered company, it's something fairly easy for me to do. Whereas I know, you know, for a private investor to do that, they have to scale their business fairly, fairly big, but a lot of this stuff, depending on which state or province, if you're in Canada, in terms of, you know, where you're finding information, it's a lot of this is publicly available for on the apartment side as well. So you can usually enough elbow grease and you can find a name for a person, but you're absolutely right. It's a different animal on the commercial side, but in terms of making those relationships, I think, you know, just going back to your educational aspect, I think stuff like that is, what's so valuable in education. And one thing is, okay, you can say connect with a good broker, but there are aspects of, you know, making sure that you sound like, you know, what you're talking about and you know, do's, and don'ts when you're trying to connect with the brokerage community. And not that they're, you know, we're this, you know, just geniuses, it's just the fact that you want to be speaking our language. And there's a couple of red flags that just jump out right away. When brokers hear somebody talk that, you know, you can, you lose credibility fairly quickly, but if you do the opposite, you know, it's a, it's a list an off-market listing then I'll definitely want to get out and, you know, give to somebody that if they sound like they know what they're talking about. Sam (29m 40s): Yeah. I agree. Hundred percent like that. The education is, is just huge. And it's obviously something I believe in it's something I practice and I pay a lot of money every single year to be in a couple of masterminds and some subscription services. But it's, you know, they say you can't buy time, but you can like time, you can buy time by being more efficient and effective. If, if you know, you took 10 years to learn how to do what you do. And you know, we're putting a lot of that in this pocket. Someone keynote can spend listened to, you know, 10 hours of your podcast and get two years worth of knowledge and information. So they can be more efficient and effective. So whether it's free or paid. And I take part in this, in all my businesses and every aspect, I'm writing a book right now, and I got a ghost writer helping me write it, like taking other people's information. So you can be, and their knowledge and experience. So you can be more efficient and effective and kind of take that group path and have less headaches and, you know, do more in less time you are buying time. So yeah, that's huge. That goes along with the lingo that you're talking about and just general, you know, just having somebody keep you in the lanes and keep you out of the gutters is huge, hugely important. So yeah, I fully believe in it and sell it obviously, but also take part in it. And pretty much every business I have. Jesse (30m 51s): Yeah. Well, it's a great community be in. I find that there's a lot of like-minded people. And generally speaking for the most part, everybody is pretty encouraging when you get into this business. And I, you know, I assume it's similar for other industries, but one thing I've always loved with the real estate industry is that if you are hustling and, and you are outwardly showing that you're interested, older individuals in our industry do want to do nothing but help you. I've found that through my career is because they see a little bit of themselves in you. I want, you know, when they're 50, 60 plus, and they see a younger version of themselves kind of doing their thing. So reaching out to those people is, is something that, you know, if you can add value, it's something that I always encourage for people to do. Sam (31m 31s): Yeah. Don't, don't underestimate vanity. I see it all the time. They're, they're willing to help. They really are those older people, they a hundred percent want to help. They see themselves in you, but they're also like, Hey, this is what I did. Look at how cool I am and look, here's the secrets that I did. And I figured out, and look at me, I did this, you know, look up to me and it's, it's everybody has it as natural. I'm not trying to dog on anybody. I have it, you have it everybody. But if, you know, people will, some people have a little bit more banning than others, but having, you know, people, you know, be able to say, look what I did and have you be like, wow, that that's something and that's real. And that, that goes along with people wanting to help you're right. Real estate investors are surprisingly helpful in my opinion, compared a lot of other industries. Jesse (32m 10s): Yeah, for sure. And you're absolutely right on the vanity side, I've found that even on the podcast and it's, and again, it's not to say that in a negative way, but I get a lot more honey from people I reach out to, especially on the commercial real estate side and, and the academic side, when I said, Hey, I just read your last paper, you know, that you wrote on, you know, commercial real estate prices and their effect on X. And all of a sudden you're like, oh, read my work. Okay. Like, you know, I would test it. So yeah, definitely. That's a good aspect. I think any, any time in life, you can kind of a tickle or a, you know, a warmup through the vanities angle or a little bit of the stroke in the ego. I think it, you know, it helps Sam. We're coming up to the end here. We've got a few questions at the end. We ask every guest. So if you're cool with that, I'll, I'll send them your way. All right. All right, Sam, what you know, talking about mentorship, what is something that you would recommend or encourage for a young person getting into our industry, whether that's, you know, investing or commercial real estate as a, as a profession, you know, even on the institutional side, Sam (33m 19s): Just take advantage of all the free resources out there, your podcasts. Those is a ton of social media stuff. I'm on YouTube and Instagram and even Tik TOK. Now, like we kind of alluded to, but just take advantage of all the free stuff out there. You can learn so much for free if you're willing to spend a little bit of time and energy on it. So take advantage of the free stuff out there, and then that'll guide you to pay stuff if you want. But also get out and network, go to these meetups, go to meet people, go grab lunch with someone it's so much different commenting on somebody's Instagram or joining a Facebook group and chatting then getting in your car, driving, going to a meetup, meeting, other people that got in their car and drove and went to that meetup. Those people are so much more valuable to connect with than somebody you just met online. So do the online research, but go meet people, talk to people because those people are the people that you want to know. And you, one connection probably will eventually change your life. You just gotta meet that connection. So go connect with people in person. And if you're young, like you said, man, people like to take you under their wing, especially if you're super young and just wanting to get into it in green, you don't even have to act like, you know what you're talking about. As long as they know that you're green and you don't act like, you know what you're talking about, you'd be shocked at how many people will help you. Jesse (34m 31s): Yeah. It's almost an advantage if you act like you don't really know what you're talking about, they want to, they want to help you out. So speaking of resources, what's something, a podcast or book that you're reading right now that you could share with listeners. Sam (34m 44s): Yeah. I just talk on that. I love listening to podcasts and listened into books and kind of getting, I usually get my active information and active knowledge and, you know, from, you know, masterminds or podcasts or YouTube like this, but my overall like mindset stuff comes from more books and things like that. A book that I just read again for the second time that I, I really, really like is a pitch. Anything, if anybody's ever read a pitch, anything's a good one. And then eat that frog, Jesse (35m 13s): Oren Klaff right. Pitch anything, Sam (35m 15s): And then eat it just about, you know, conversations and how you can kind of not control the other person, but you can kind of lead the conversation to where you want and lead the relationship to, to, you know, something that's beneficial for everybody. And then also eat that. Frog's a really good, simple one that I kind of liked. It's just about, if you get the, you get the hardest thing over at the beginning of the day and everything else, it's not just like, you're done with the hard thing. It's like, you got momentum, you got the energy from it. And then everything else seems easy. You get, if you wait until the end of the day, do the hard thing, you won't do it. Or you do at the end of the day. If you do the hard thing at the beginning of the day, you get literally twice as much done. So just suck it up and do it. So that's that's I really liked that book. Jesse (35m 52s): Yeah. We'll put links to both of those. I've, you know, I can't even, it was probably three, four years ago. I read, eat that frog and I was so confused. Cause a buddy sent it to me and I was like, what is this? I don't get the, you read the book. And you're like, yeah, it makes a lot of sense. No, I mean the, the, the title, when I first saw it, I was like, what am I getting into? But yeah, it's basically getting, getting that, you know, that toughest thing out of your day and then setting yourself up for, you know, for the rest of the day, week a year. That's awesome. We'll put a couple links to those last question. We'd like to ask all of our guests just cause I'm a bit of a petrol head. First car make and model Sam (36m 26s): First car make a T at 1993. Stick-shift Toyota Corolla. Jesse (36m 31s): I like how you say stick, stick, shift. I listened to this econ talk one of my favorite podcasts and they call it a, a millennial security device. Sam (36m 39s): Yeah. I've heard that too. That that's true. That's true. That a lot of, not a lot of people can, can find those these days. Jesse (36m 46s): Awesome. We'll say for those that want to reach out, we alluded to it throughout the whole podcast, but working the working, they get to you. What's your handle for Instagram? Tik TOK or YouTube. Sam (36m 57s): Yeah, they're all. It's all the same. It's same faster freedom. So my name and then faster freedom is my brand. So same fastest freedom on Tik TOK, YouTube, Instagram, check out the stuff. If you like it, shoot me a follower and shoot me a message on Instagram. I, I try to get to as many as I can and I'll usually get to them within a day or two if I don't get them right away. So shoot me a message. If you have any questions, I'd love to help you out. Jesse (37m 17s): My guest today has been Sam prim Sam, thanks for being part of working capital. Sam (37m 21s): Thank you. I appreciate being on. Jesse (37m 30s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care.
Scott and James discuss how to invest in down markets. Listener Question With the markets increased volatiltiy in the past few weeks, we wanted to address how you can be investing amidst current market conditions. Thank you for submitting your questions and please continue to do so and we'll look to answer them in a future episode. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - Inflation 6:10 - Headlines 11:42 - The Best Days 15:05 - Having a Plan 18:20 - Rebalancing 20:31 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don't miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here
For David, the problem is that the U.S. has promised its people way more than it can afford to pay. The debt clock says $30 trillion, which is a mind-boggling figure. According to other experts, however, the real number is actually higher than that. It is close to the $125 trillion mark. Citing Dr. Larry Kotlikoff from Boston University, David reveals that, according to a fiscal gap accounting, the projection over the next 75 years isn't $30 trillion, nor $125 trillion… it sees true national debt in the U.S. sitting much closer to $239 trillion. One of the key questions David brings up is: for a retiring generation of Baby Boomers who saved the lion's share of their retirement savings and tax-deferred vehicles like 401ks, what rate are their postponed tax payments going to be taxed at? David shares that, with the exception of a small period in the early ‘90s, taxes haven't been as historically low as they are today in 80 years. He advises to do all the heavy lifting now by preemptively paying taxes on IRAs and 401ks before tax rates go up on January 1st 2026. David talks about the fact that after January 1st 2026, tax rates are going to revert back to what they were in 2017. This means that each day that goes by where we fail to take advantage of historically low tax rates is potentially a year beyond 2026 where we could be forced to pay the highest tax rates we are likely to see in our lifetime. David shares his insights about how retirees and retirees-to-be can transition these assets before January 1st 2026 arrives. David advises those who have too much money in their 401k or IRA to start repositioning that money systematically to the tax free bucket by way of a Roth conversion. The Roth conversion has no income limitation. Social Security, Medicare, Medicaid, is just borrowing money that they don't have. Every year that Congress doesn't fix the problem means new consequences. (aka higher tax rates). Mentioned in this episode: David's books: Power of Zero, Look Before Your LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com PowerOfZero.com (free video series) @mcknightandco on Twitter @davidcmcknight on Instagram David McKnight on YouTube
In this week's episode, Brandon and Thomas discuss the pros and cons of using self-directed IRAs to invest in real estate, when they make sense, and more. Join our Facebook group, the one-stop-shop for real estate investors to learn about tax strategy and stay up to date on changing tax laws: www.facebook.com/groups/taxsmartinvestors For an initial consultation from Hall CPA, PLLC visit www.therealestatecpa.com/become-client Subscribe to our YouTube channel: www.youtube.com/c/therealestatecpa Follow Brandon on Twitter: Follow Thomas on Twitter: @thomascastelli_ The Tax Smart Real Estate Investors podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests. Always consult your own tax, legal, and accounting advisors before engaging in any transaction.
How do you calculate taxes for flipping houses? Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: Is there depreciation recapture on a business vehicle when it is sold or no longer used for the business? Depreciation recapture works differently for personal/tangible property than for real estate. So, anything that's not real estate and intangible, such as a car. Inherited IRAs: Are distributions taxed no matter what or can you shelter them with cost seg and depreciation from short-term rentals? Can you shelter with long-term rentals? It doesn't matter if the IRA is inherited, the distributions are taxable because you could have cost segs or short-term rentals from somewhere else that are offsetting that income. IRAs, unless it's a Roth IRA, are always going to generate taxable income. I am a physician in a single-specialty practice under an LLP. I have set up my personal PLLC in the state. Do I need to set up payroll and give myself a W-2? It depends. Most states require that you're an S-corp. You are going to have to take a reasonable salary that is about a third of all the net profit. We made $200,000 on our first flip, we closed in April 2022. How much should we put aside for IRS taxes? Would you happen to know how much we should put aside for state taxes as well? if you were set up as a business before you made the $200,000, then you just made the 200,000 and that's it. Pay the tax. For all questions/answers discussed, sign up to be a Platinum member to view the replay! Go to iTunes to leave a review of the Tax Tuesday podcast. Resources: Wills and Trusts https://andersonadvisors.com/living-trusts/ Turo https://turo.com/ Retirement Planning https://andersonadvisors.com/retirement-plan/ Unrelated Business Income Tax (UBIT) https://www.irs.gov/charities-non-profits/unrelated-business-income-tax Form 1065 https://www.irs.gov/forms-pubs/about-form-1065 Toby Mathis https://tobymathis.com/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ Anderson Advisors on Facebook https://www.facebook.com/AndersonBusinessAdvisors/ Anderson Advisors Podcast https://andersonadvisors.com/podcast/
Did you know that you can legally and ethically avoid paying unnecessary taxes by working with the tax code? With tax planning, you can avoid tax risk. Tax preparation is about being reactive while tax planning is about being proactive all year round every single year. Tax planning years in advance when done correctly, can massively change how much you pay in taxes. In this episode of the Secure Your Retirement podcast, we talk about the benefits of tax planning in the long term as opposed to tax preparation. Listen in to learn how to pay less tax on your income after retirement if you make the same as before or even more. In this episode, find out: ● The benefits of tax planning and being proactive in the tax calendar year. ● The big difference between tax preparation and planning – being reactive vs. proactive. ● Minimize tax on social security benefits by planning to get the money into a tax-free scenario. ● Why do many people make the same amount of income in retirement and even more? ● The importance of putting all your money in pre-tax retirement assets like the IRAs and 401ks. ● The importance of Roth conversions as part of your long-term tax planning goal. ● Plan for your surviving spouse to ensure they aren't paying more taxes than they're supposed to. Tweetable Quotes: ● “In retirement, taxes can change the situation drastically in your favor as well as cost you a lot of money.” - Radon Stancil ● “Roth conversions are a big way to start thinking about this long-term tax planning goal.”- Murs Tariq Resources: If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement! To access the course, simply visit https://pomwealth.net/3-keys-to-secure-your-retirementlp/ (POMWealth.net/podcast.)
You have money questions. We have money answers. Our Fiscal Firecracker inbox received so many worthwhile queries that we decided to devote entire episodes to them. For the premiere, Galia and Susan address a wide range of topics: money management tools, credit card tips for your teen child, annuities for retirees, IRAs and even a daily exercise to help prioritize your spending habits. Susan shares her budget hacks for New York and springs some questions on Galia herself.
Josh Ziegelbaum currently serves as Director of Investor Relations at Legacy Group and is based in Fort Lauderdale, Florida. He is responsible for managing investor communications, onboarding, individual and commercial clients, as well as overall support of company initiatives. The dynamic work experience Josh has gained throughout his career gives him a unique perspective on both sales and operations. Prior to joining Legacy Group, Josh worked as Vice President of Business Development for Lifeafar Capital, a boutique private equity and asset management firm where he led his team's capital-raising efforts. Before that, he was a Private Banker for Wells Fargo with a focus on complex credit needs and investments in public securities. During his time at Wells Fargo, Josh climbed through the ranks and received multiple internal recognitions and awards for his efforts. He most recently managed a book of business for high-net worth individuals and business owners in Miami Beach. Today, Josh shares about investing in ag land outside of the US and specifically in Colombia with a coffee company. Episode Links: https://legacy-group.co/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals. Michael: What's going on everyone? Welcome to another episode of the Remote Real Estate Investor. Today with me I have Josh Ziegelbaum, the director of Investor Relations at the legacy group and Josh is going to be talking to us today about investments in ag land outside of the US and specifically in Colombia with a coffee company. So let's get into it. Before we jump in today's episode, I just want to speak really briefly about Roofstock Academy which is Rootstocks one stop shop for Investor Education, independent of where you are in your investing journey, whether you're just getting started or already have a sizable portfolio, we have something for you. Over 50 hours of on demand lecture access to private slack forums, one on one coaching as well as mastermind groups, depending on which program you end up enrolling in. We definitely want encourage you to come check us out. I look forward to seeing you there. Happy investing. Josh, what's going on, man. Welcome to the Remote Real Estate Investor. Thanks for hanging out with me. Josh: Hey, Michael, I'm happy to be here. Michael: Awesome, so before we hit record here, we were chatting a little bit about your background. But for those people who weren't privy to that conversation, give us a quick and dirty who you are, where do you come from and what is it that you do in real estate today? Josh: Sure, happy to dive into that. So my name is Josh Ziegelbaum. I'm the director of Investor Relations for legacy group. We're an alternative asset manager focused on real assets in Latin America, our niche in the real estate space will be agriculture. Our portfolio company Green Coffee Company is the second largest coffee producer in Colombia. Today, we have the business on track to be the largest this year. So that's the niche in which we're in. It's certainly different than the typical space that most guys invest in. But we love the alternative investment space. I've been working in this industry for the last few years, but in financial services for more than the last decade. Prior to doing this, I was a private banker with Wells Fargo, in New Jersey, and then in Miami Beach and I currently sit in Fort Lauderdale and support our teams capital raising efforts and investor relations across our portfolio companies. Michael: Right on, so taking a step back, I mean, you mentioned is an alternative asset company or company focused on alternative asset, what's an alternative asset for someone that might not be familiar? Josh: Sure, it's anything that falls out of your scope of traditional investments. So traditional assets would be stocks, bonds, cash and equivalents. So typical investor portfolio, you may have heard the 60-40 approach that 60% bonds, or sorry, 60% stocks, 40% bonds, depends on the age, of course and those are what's traditional. So a financial advisor in the traditional space will say, all right, based on your age, and risk tolerance, you should have X amount stock in your portfolio, X amount of bonds and this much cash alternatives would be things like gold, real estate, cryptocurrencies, private equity, anything that falls out of the scope of traditional asset classes, and they're a great, I'm not saying anything bad about traditional investments, but alternatives are a great way to diversify portfolios and most of our investors, you know, they have stocks and bonds and cash in their portfolio, and we're looking to complement that. Michael: So Josh, why is it important, in your opinion, taking, you know, putting on your kind of financial hat for a minute, just from a personal standpoint, why is it important to have alternative assets? I mean, Why can't someone just go into the stock and bond and cash world? What attracted you? Josh: Yeah, I mean, coming from that industry of traditional investments, portfolio management, kind of selling ETFs, mutual funds, individual securities, that everything's somewhat cut and dry and there's similar offerings across the board at all banks, right and, I mean, you could, you know, no matter what you do in your portfolio, if you have all stocks, months, like April, everything's going down, right. So I mean, stocks perform well, in the long term, but it's important to have parts of your portfolio that are entirely uncorrelated, and that could weather a recession and that can weather inflation, right. So if you look at the inflation rate today, I mean, we're clocking over 8% a year right now. So even the historical return of a stock portfolio, it's, it's basically at or below inflation, you can go in yeah, you want to add assets to your portfolio that are uncorrelated and that can also you know, beat that. So I was attracted to the industry by the high returns, the interesting offerings, you know, early stage investing is sexy. It's something cool and suddenly you can't get in a bank. So, you know, I was I was attracted by the projects and social and environmental impact of the projects and really, you know, bringing something unique and interesting to a client base that they otherwise wouldn't have access to. Michael: Right on, and let's talk about you mentioned, uncorrelated for someone that might not be familiar with what correlation is, or how to be thinking about that, in terms of portfolio theory, making give us a quick rundown of how people should be thinking about that and really what correlation means. Josh: Correlation essentially means that assets move in tandem with one another. So there's certain assets called risk assets, stocks that usually move in tandem. So when there's, you've heard, everyone's probably heard of the S&P 500, or the Dow Jones Industrial Average. So this tracks the movements of a basket of securities. However, if you actually look granularly, at each one of the securities that makes up the Dow Jones or the S&P and you look at it during a trading day, they somewhat move together. So I mean, while we're recording this markets recovering post lunch, and looking, if you look at the stocks that make up an index, almost all of them are recovering at the same time. So that's correlation, so you want to have assets that move in opposite directions, and that aren't all tied to one another. Another term for this in the industry would be beta. So a beta of one means that if the S&P goes up 1%, the underlying security in reference also goes up 1%. So a younger growth investor looks for high beta names. But at the same time, when the market goes down, all the high beta names go down at the same time. So look at taking a step back, and kind of looking at a typical portfolio of stocks and bonds, people are now starting to add other assets there. So maybe that's real estate that they own personally, real estate that they own in a syndicated manner, whether that be apartment buildings, or something similar to that. cryptocurrency is one, I mean, we're hearing from a lot of professionals, two to 5% of your portfolio should be in crypto assets. So that's one that wasn't really taught when I when I was studying finance, but that's emerged, right. So we're seeing this emergence of alternative investments, and it's becoming more widely accepted that they should be a part of an investor's portfolio in order to mitigate risk. hedge against inflation and increased upside potential. Michael: Okay, right on. So and that's kind of where the legacy group comes in. That's an offering that you all have for investors and specifically, you said, in Latin America, ag land is that the main focus in Colombia, of course. Josh: That is right now. So we're an asset manager, we're focusing on early stage investment opportunities in operating businesses. So the Green Coffee Company, our flagship portfolio company, is an operating business in the agricultural space. So we founded the company about five years ago, we've gone through several funding rounds brought in over $25 million of equity capital primarily from the US and we're deploying that and buying up real assets farmland in Sagar Colombia, it's two to three hours outside of managing and we're consolidating infrastructure and building a world class operation. It's collateralized like it like a real estate play, but our investors get the upside of an operating business, our goal is to continue to acquire farmland and grow and establish ourselves to be in a position to exit through a sale or an IPO. For our investor base. Michael: What a cool kind of approach. Josh: Yeah, it's a bit of a hybrid. So it's like different than, you know, a traditional agricultural investment where, well, it's kind of hard to describe a traditional because it's hard to access. But if you bought a plot of land, you have access to the, you know, the cash flow that's produced on that particular plot of land. In our model, we, our investors own a slice of a large, very large plot of land, you know, over 5000 acres right now is what we control and but they have higher upside than just the cash flow. So we're building out mechanisms in which we can use coffee byproduct to create possibly a liquor or southern other alternative. We're building out processing facilities, roasting channels are on the horizon. So investors not only own the land of the underlying business, but they have the left side of the operations and we think that markets will reward this type of business in the years to come for the reasons I mentioned, and also because of the impact, you know, we're doing a lot of things to lift up the community in which we operate. something really special, and I can attest to the fact that it's something really unique that I haven't seen in any other offering. Michael: Interesting, so there's some wisdom out there that says don't invest in anything you don't understand, or you can't explain and so if someone doesn't have a clue about the club, be in coffee market or ag land in general, how should they get educated before making an investment like this? Josh: Yeah, so I would encourage you to follow us on social subscribe to our newsletter, it takes time to get comfortable with the asset manager that you're working with and we put out regular content that educates you on the coffee industry shows us videos and footage from the farms. In terms of our management team. You know, we have world class operators on the ground in Colombia. We've hired a 25 year veteran of the Colombian agriculture industry, Boris Molnar, to head up the Green Coffee Company has it CEO, we have our chief agronomist, as the former agronomist for Starbucks in Colombia, we have a really strong team and within our investment materials, there's more details on the management team and more of an explanation of the process and, and in the model. So in order to get comfortable, I would subscribe to us request our offering docs hop on a call with me happy to address questions individually, but definitely it takes a bit of time, of course. Michael: Okay, cool and you were talking about the return profile, potentially out beating are outpacing inflation and having a really attractive return compared to your traditional investments. What are you seeing in terms of returns to your investors over the last couple of years with Green Coffee Company? Josh: Sure, we're about to launch our Series C funding round, we're expecting to launch that and in July, and our expectation is to do that, at $1,000 a share up from 700 a share in our series B round and we're currently forecasting 8x net returns for our investors or in terms of an IRR or internal rate of return 53% annualized through a 2026 exit. The value that we've delivered to date is up rounds for all of our earlier investors. The seed round was at $500 a share and most recently, our B was at 700. So we've delivered significant value for our investors through capital appreciation. But from here, there's even more upside, like I said at the current are what we're expecting to be the next funding round. We're forecasting 8x net returns way higher than the inflation rate in the US and forecasting right now. Michael: That's awesome and so should investors expect a cash flow dividend or payment on any kind of regular frequency or not until the exit of the company are they IPO? Josh: Yeah, that's a great question, Michael. So we are modeling in dividends and cashflow on an annual basis. In our investor presentation it's forecasted to begin in 2023 for the 2022 operating year, and to continuously pay dividends each year of throughout operations until we exit. It's mostly a growth investment. So the bulk of the return is going to be realized when we sell the business or we IPO. But there's definitely a cashflow component that that we're modeling in here. Michael: Interesting, so in a syndication play, a lot of syndicators will give investors the opportunity at the exit to 1031 their money, keep their money with the operator, we're gonna go invest it into a new property, you're not going to pay any capital gains tax. How does it work with this because it's really a business more so than a real estate asset in the US specifically, because it's international, so how does that all work? Josh: That's a great question, Michael. So we've structured the investment to be in the US. So our investors are receiving common equity in Green Coffee Company holdings and it's a US based investment for all intents and purposes, the assets are primarily in Colombia, but the structure of the business is here in the States. Now, once we exit, whether that if it's through an IPO, we would classify that as a liquidity event, investors would be able to sell their shares without a lockup period. But you're not forced to sell in the event of an IPO. Similar, like if someone comparatively if we're exiting a commercial real estate deal, you have to take your money out and like if they're selling or the refinancing, they're gonna give you your money out. But if we go public, there's optionality there, you could sell a portion you could sell all you could sell none, it's actually the investor could not realize any capital gains if they wanted to. Now, there's no ability to 1031 stocks, right. So even though there's underlying real estate, and it's a US based investment, there's no ability to do a 1031 exchange with this type of product. However, investors can invest in a tax deferred manner. We have people who invest in retirement accounts, traditional IRAs or Roth IRAs, so that they could essentially accomplish what you're saying, but within a retirement account, that's a way in which people could do it. I didn't mention this, but it's a it's open for accredited investors only. So it's a 506 C offering minimum investments 100,000 so most of our investors are high net worth or ultra are high net worth and it's a means in which to complement their current portfolio, but um, no ability on the 1031. But there's there are other tax advantages through an IRA that can be achieved. Michael: Okay, interesting. Have you ever looked into qualified opportunity zones? Josh: We have, so I have experience in that through another portfolio company of ours, we were developing opportunity's own projects in in Puerto Rico, which is a US territory. Now, the business as it relates to coffee, the coffee business, it's in the US, but the assets, the farmland, it's all in Colombia. So there's no the opportunity's own legislation is specific to the US and its territories. So that we unfortunately, we don't have ability to use utilize the opportunity's own legislation for this project. Michael: But I'm wondering about actually going the other way with it. So if it's considered a stock and someone sells shares of their stock and has a capital gain, if they invest those gains into a fund, I think that there might be opportunity there as well. Josh: That's right on the back end, if an investor I mean, assuming that the opportunity zone legislation remains intact, at the exit, right. When an investor gets a distribution, they could, like you said, theoretically identify and opportunities on investment to roll their capital gain into to relieve to alleviate some of the tax burden. Michael: Yeah, but definitely talk to a tax professional before doing any of this stuff, because we're not tax advisers. It's really interesting. So I'm curious, Josh, I think a lot of investors, especially in the states understand some of the risks and the downside associated with real estate investing, specifically with regard to single family homes. That's why they have insurance, that sort of thing. What kind of risks and downsides are you seeing as potentials that people should be aware of in the coffee industry down in Colombia? Josh: Yeah, I think the main one is weather. So you know, in agriculture, whether it's Columbia us, I mean, weather is something that needs to be mitigated. It's just the main risk when it comes to agriculture. Last year, the harvest in Colombia, it was lighter than expected across the board. There was also some adverse weather patterns in Brazil and other parts of the world. This pushed up coffee commodity prices dramatically, however, it lowered production of the farmland, so a bit of a double edged sword, we were able to benefit from the increase in prices. But there is some uncertainty as it relates to weather and we have to mitigate it. We use methods in which to monitor soil weather patterns and we have some world class technology on the farms in order to monitor and mitigate on the weather side and be proactive. But I would say that's a risk that investors need to be aware of, in the end. Michael: It was great to know and you mentioned social and environmental impacts. Can you talk to that a little bit? Josh: Sure, on the social side, it's my favorite one. So we're the largest start there. We're the largest employer in Sagar. It's a town in which we operate. We have great relationship with the mayor and the local officials there. We recently inaugurated a processing facility at the end of last year, we had the America mount the chief of police, the head of the Council of American enterprises doing business in the country and what we're doing in the community is something really special, we're providing fair and equal employment with above average wages, paid time off, fringe and benefits in an industry that does not have benefits, and that pays its employees with cash. So we're taking an industry that's done in this informal manner, and we're formalizing it and we're more really lifting up the community and you could see it when you're there. There's so much passion behind the work that's done by the employees. It's something it's really special to me, and we're employing several 100 people and growing and, yeah, we have an entire presentation on social and environmental impact. On the environmental side of some things that we're doing, we're planting the coffee with through a system called an Ella pod. It allows us to plant biodegradable pods for the new trees instead of coffee, but instead of plastic bags, so we're removing tons and tons of waste from the environment with our planting methods. On fertilizers, we're spraying the trees at the base. So we're reducing the amount of fertilizer that's used and we're also preventing harm to the surrounding area. We do reforestation and a lot of different things and we're working on a solar project. Now that's in the works. So a lot of things on the environmental side as well, I would say. Michael: Very, very cool. So Josh, this has been super fun, man. Where can people learn more about you and learn more about Green Coffee Company get in touch with folks at Legacy group? How, you know, how should they go about doing that? Josh: Yeah, definitely go to our website. That's legacy/group.co. Maybe we could put a link to that in the show notes, then our email address investor.relations@legacy/group.co and you can find us on social media through LinkedIn, Instagram, but definitely check out our website, subscribe to our newsletter. I think that's the best way to get in touch with us and always happy to connect for a call or through email as well. Michael: Perfect, Josh, thank you so much. I really appreciate it and can't wait to stay in touch. see where this goes. Josh: Thanks, Michael. Appreciate your time as well. Michael: Hey, you got it, take care. So that was episode everyone a big thank you to Josh for coming on super interesting business model with that hybrid approach of kind of stock company private equity as well as the real estate side of things. So definitely go give their company website at checkout. As always, if you liked the episode, please feel free to leave us a rating or review wherever you get your podcasts these are really, really, really helpful for us, and we look forward to seeing our next one. Happy investing…
Michael Saylor is an American entrepreneur, executive, inventor, author, and philanthropist. He is the Chairman and CEO of MicroStrategy (MSTR), a publicly traded business intelligence firm he founded in 1989. Michael is an advocate for the Bitcoin Standard www.hope.com and is the first CEO of a publicly listed company to make a long-term investment in Bitcoin. He founded and serves as the trustee for the Saylor Academy www.saylor.org a non-profit organization that provides free education to nearly one million students. REFERRAL LINKS: Coin Stories is powered by BITCOIN 2023, which will be the BIGGEST BITCOIN EVENT IN HISTORY held in April 2023. If you missed Bitcoin 2022, make sure to head to the @Bitcoin Magazine page to find videos and highlights of all the biggest events and panels. You can get an early bird pass for Bitcoin 2023 at a steep discount if you head to: https://b.tc/conference/2023 *** Okcoin is on a mission to make crypto investing and trading easily accessible to anyone around the world. We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto. Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. We are a collective of global citizens with a common passion to help decentralize finance and level the economic playing field for everyone around the world. Visit https://www.okcoin.com/natalie for $50 in Bitcoin when you sign up. *** With iTrustCapital, you can actually invest in crypto without worrying about taxes, or fees. iTrustCapital allows their clients to invest in crypto through an individual retirement account, or an IRA. IRAs are tax sheltered accounts, which means all your crypto trading is tax-free and can even grow tax-free over time. The best part is that it's totally free to open an account, and there are no hidden fees. You don't need to pay any monthly subscription or membership fees either. If you open and fund an account, you will get a $100 funding bonus added to your account. To learn more, click the link below and open a free account to learn more. https://itrust.capital/nataliebrunell *** Fold is the best Bitcoin rewards debit card and shopping app in the world! Earn Bitcoin on everything you purchase with the Fold's Bitcoin cashback debit card and spin the Daily Wheel to earn free Bitcoin. Head to https://www.foldapp.com/natalie for 5,000 in free sats! #bitcoin #cryptocurrency #inflation Timecodes: 00:00 Promo codes 01:59 Reaction to markets 11:25 Inflationary environment 17:24 Supply of currency will continue to expand 24:20 Biggest surprise over last 2 years 24:55 MicroStrategy's Bitcoin strategy 27:26 Debt vs. leverage buying BTC 40:21 Betting against MicroStrategy 45:07 Luna and Terra meltdown 49:00 SEC regulation, spot ETF 52:48 Why approve futures but not spot? 53:39 iTrustCapital break 54:28 Fold app break 55:07 How do we get to $1m BTC 1:05:50 What's the world like under Bitcoin Standard? 1:14:21 Will BTC regulate wealth concentration? 1:16:58 How has Bitcoin changed Michael Saylor? 1:19:10 Mike Novagratz's Luna tattoo, final thoughts
Alyse Killeen is the founding Managing Partner of Bitcoin VC firm Stillmark. In BTC since 2013, Alyse is the Past President of the BitGive Foundation, Bitcoin's first 501(c)(3) non-profit. The San Francisco Bay Area native also mentors at Silicon Valley's Plug and Play Tech Center, Alchemist Accelerator, and NYFTL by the Partnership Fund for NYC and Springboard Enterprises. Reach out to Alyse at https://www.stillmark.com/ REFERRAL LINKS: Coin Stories is powered by BITCOIN 2023, which will be the BIGGEST BITCOIN EVENT IN HISTORY held in April 2023. If you missed Bitcoin 2022, make sure to head to the @Bitcoin Magazine page to find videos and highlights of all the biggest events and panels. You can get an early bird pass for Bitcoin 2023 at a steep discount if you head to: https://b.tc/conference/2023 *** Okcoin is on a mission to make crypto investing and trading easily accessible to anyone around the world. We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto. Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. We are a collective of global citizens with a common passion to help decentralize finance and level the economic playing field for everyone around the world. Visit https://www.okcoin.com/natalie for $50 in Bitcoin when you sign up. *** With iTrustCapital, you can actually invest in crypto without worrying about taxes, or fees. iTrustCapital allows their clients to invest in crypto through an individual retirement account, or an IRA. IRAs are tax sheltered accounts, which means all your crypto trading is tax-free and can even grow tax-free over time. The best part is that it's totally free to open an account, and there are no hidden fees. You don't need to pay any monthly subscription or membership fees either. If you open and fund an account, you will get a $100 funding bonus added to your account. To learn more, click the link below and open a free account to learn more. https://itrust.capital/nataliebrunell *** Fold is the best Bitcoin rewards debit card and shopping app in the world! Earn Bitcoin on everything you purchase with the Fold's Bitcoin cashback debit card and spin the Daily Wheel to earn free Bitcoin. Head to https://www.foldapp.com/natalie for 5,000 free sats! #bitcoin #cryptocurrency #inflation Timecodes: 00:00 Promo codes 01:59 Growing up in SF Bay Area 04:35 Childhood dreams: science, research & statistics 05:25 Studying psychology 06:04 Interest in health, first responders 07:09 Traumatic stress response 08:27 Finding peace in health 10:17 Pivoting to venture capital 12:26 How does VC work? 14:54 Valuating companies 17:31 Where does the capital come from? 19:29 Learning about Bitcoin early on 23:02 Financial inclusion 24:36 Dignity and freedom through commerce 25:30 iTrustCapital break 26:18 Fold app break 26:51 Building Bitcoin VC firm Stillmark 29:47 Token investing 32:41 Investment growth in BTC space 35:13 Taro integrating fiat with Bitcoin over Lightning Network 37:19 Stablecoins vs. Bitcoin adoption and growth 38:57 Institutions coming into Bitcoin 40:37 Economic environment and BTC price 43:01 Bitcoin not on Stillmark's balance sheet 44:50 Pink Frog Games (Candy Crush) utilizing Bitcoin & Lightning 48:11 Backing decision makers, supporting founders 50:59 Advice for a young Alyse getting into VC 52:26 Bitcoin in the future 52:59 Pitches don't have to be perfect
Scott and James discuss how to account for matching contributions in retirement savings rates. Listener Question Wanted to find what both of yours opinions are on savings rate as it relates to employer match. I am currently saving 25% of my gross income between maxing out 401k, IRA and the rest to a brokerage, I bonds and ESPP. My employer matches 15% NEC on 100% income. I have a mandatory retirement age from this career (commercial aviation) If I fall short on my 25% personal savings rate in a given year, when is it appropriate to count the 15% from the company? Or is it always counted and I'm saving 40% between the two? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - Employer Matching 4:55 - Dollars Are Dollars 7:21 - Overfunding 9:12 - Lifestyle Goals 10:47 - Healthy Savings 11:47 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don't miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here
Vleeties and Geno get together for another niche wrestling discussion. First off, Vleeties needs to vent about the stock market, the IRAs and 401ks are falling apart! Then the boys discuss Impact Wrestling's Under Siege Premium Live Event vs. WWE's WrestleMania Backlash. Storylines and match quality, which was the superior event. NJPW gets ready for "Capital Collision" not Capitol Collision. AEW Dynamite kicks off the Owen Hart Foundation Tournament Brackets.
Eric Satz is the founder and CEO of Alto Solutions. Alto is the leading platform that empowers everyday investors to diversify their IRAs by investing in alternative assets such as private equity, venture capital, real estate, loans, and cryptocurrency. Offering traditional, Roth, SEP and Crypto IRAs, Alto is bringing alternative investments to the mainstream. Everyday investors can now easily and cost-effectively access their retirement savings to invest in assets once reserved solely for high-net-worth individuals. Investors can use their Alto IRA to invest in opportunities from their own private network or participate in deals offered by Bitwise, DiversyFund, Fundr, Masterworks, Republic, Vint, and numerous other investment platform partners. Launched in 2018 and growing fast, the Nashville-based firm is on a mission to empower people to own their financial futures by achieving true asset diversification in their retirement account portfolios. Prior to founding Alto, Eric worked in investment banking at DLJ/Credit Suisse and co-founded several companies, including: Currenex, an FX trading solution sold to State Street for more than $550M, Plumgood Food, and VC firm Tennessee Community Ventures. He served on the Board of Tennessee Valley Authority from August 2015 to January 2019. After years in New York City and San Francisco, Eric and family moved to his wife's hometown of Nashville to raise their kids. Nowadays, his pastimes include skiing, soccer, yoga, and all too often hoping this will finally be the year for the ‘Canes and Dolphins. Topics Covered by Eric Satz in this Episode What Alto Solutions is Alto's origin story and how Eric began to execute on the idea Why Eric decided this was a problem he had to solve Early unexpected hurdles and getting Alto off the ground The UX and investment process with Alto Partnering with Angel List Shifting their customer acquisition strategy How the evolution of different asset classes has affected Alto The importance of leveraging storytelling Lessons Eric has learned founding multiple companies How Eric evaluates investments Listen to all episodes of the Just Go Grind Podcast: https://www.justgogrind.com Follow Justin Gordon on Twitter: https://twitter.com/justingordon212
What may seem like the easy way out of debt can definitely lead to new problems, and get you in worse trouble than when you started. We'll talk abou the dangers of debt consolidation today on MoneyWise. We're not a fan of debt consolidation for two reasons: 1) It's dangerous, and 2) There's a much better option. We'll explain shortly. THE DANGER OF DEBT CONSOLIDATION Let's talk about the danger first. The tantalizing idea behind debt consolidation is that you'll reduce your overall monthly payment by refinancing several debts into one big one. But in order to make that one payment smaller, you may have to sign up for a longer term loan. That means you'll probably end up paying more in interest in the long run than you would by paying off the debts individually. You might think that having a lower monthly payment will give you a chance to pay more on the principal each month to get rid of the combined debt faster, and that's certainly true. The problem is that all too often, that's not what happens. Having that extra cash on hand leads to lifestyle creep, and folks just just end up continuing to pay the minimum amount each month. That's how the debt gets stretched out over several years, which costs them more in interest. The next problem with debt consolidation isn't necessarily a danger, but it's something to think about. Consolidating your debts could temporarily lower your credit score in two ways: First, whenever you apply for a new credit card (to transfer balances to it) or you apply for a home equity loan to consolidate, that gets reported to the credit bureaus as a hard inquiry, and it'll lower your FICO score. Second, if you get a new card or loan and you close out the old accounts, it will lower the average age of your credit, which also lowers your score. But again, if you're struggling to pay off the debts you already have, let's not worry about a low credit score hampering your ability to get new credit and even more into debt. The greatest danger of all with debt consolidation is that it's really just slapping on a band-aid when you really need a tourniquet. It doesn't fix the underlying problem, which is living beyond your means. Granted, sometimes you can be overwhelmed with a financial emergency like medical bills, but that's usually not the case when someone consolidates debt.More often it's because they're simply overspending and their lifestyle has gotten out of control. And that's how debt consolidation becomes really dangerous. Instead of reining in your lifestyle, you continue to overspend. And if you don't close the accounts you've paid off, you can now continue to charge stuff on them. Then you find yourself having to make payments on those accounts plus the consolidation loan you took out. It seemed like a good idea at the time, but you've only managed to double your problem. Okay, so what's the solution that doesn't breed new problems? Well, obviously you have to attack the underlying issue, not just the symptom. You've got to reduce your spending, and there are two great sources of help for that. The first is to sign up with one of ourcoaches at MoneyWise.org. When you do, a coach will work with you to prepare a written budget that will enable you to meet your monthly obligations without using credit cards. There's no charge for this service except the minimal cost of a workbook. Our coaches are all volunteers who love to help God's people get control of their finances. That takes care of the problem of overspending. Now, to address your outstanding debts, you can get help from our friends at Christian Credit Counselors. They'll put you on a debtmanagementplan,not debt consolidation. And they can help you pay off your debts up to 80% faster than going it alone. They have arrangements already in place with most major credit card companies and lenders to lower your interest rates. You only have to make one monthly payment, and you solve your debt problem without taking out a new loan. Check them out atChristianCreditCounselors.org. On today's program, Rob also answers listener questions: ●When does it make sense to combine IRAs? ●How do you revise a trust to include additional family members? ●What is the difference between a certified financial planner and a financial analyst or advisor? ●Is it a good idea to sell a whole life insurance policy? ●Is a 401k a better investment vehicle than a Roth IRA? RESOURCES MENTIONED ●Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29
Today, I'm talking to Jeff Levine. Jeff is Chief Planning Officer at Buckingham Wealth Partners, a lead financial planning nerd at Kitces.com, home of the popular Nerd's Eye View blog, and a regular contributor to ThinkAdvisor. He's also the Founder of Fully Vested Advice, Inc., where he provides financial education and consulting services to industry professionals. Jeff is a thought leader in the field of evidence-based planning concepts and strategies and excels at distilling complex financial laws and policies into understandable resources. His expertise has allowed him to train countless advisors as they help guide their clients to achieve their financial goals. I'm such a huge fan of Jeff's work, and I just love the advice and insights he offers the world as I reference a lot of his research often with my own clients. In today's conversation, we'll discuss why stepping into retirement is hard no matter how well you've planned and what to look for when seeking out unbiased advice from a potential financial advisor. He also shared his thoughts by answering a few questions that were submitted by our Weekend Reading audience. We definitely covered some hot topics; I hope you'll get a lot of value from this episode. In this podcast interview, you'll learn: What Kaizen is and how to apply it to your life and well-being. Why retirement has turned into a more gradual process for so many people. How to make sense of financial advice, determine whether it's any good, and identify bias. How the financial services industry is evolving to provide better value to clients. The optimal percentage of Roth versus traditional IRAs to have as you approach retirement. How to maintain a diversified bond portfolio with the potential for additional interest rate increases. Why Jeff thinks taxes are likely to rise and how to navigate these changes. Show Notes: RetireWithPurpose.com/288 Rate & Review the Podcast: RetireWithPurpose.com/review Weekly Retirement Newsletter: RetireWithPurpose.com/weekend-reading
Sean Mullaney of FI Tax Guy talks about tax planning for inherited IRAs. This is part 2 of 2. Episode 1885: [Part 2] Tax Planning For Inherited IRAs by Sean Mullaney of FI Tax Guy Sean Mullaney is a financial planner and the President of Mullaney Financial & Tax, Inc. Mullaney Financial & Tax, Inc. offers fiduciary, fee-only, hourly, and advice-only financial planning. Sean established Mullaney Financial & Tax, Inc. after a lengthy career in public accounting. He worked in the tax departments of both Deloitte & Touche and PwC, including over 6 years in PwC's Washington National Tax Services practice. Sean is a Certified Public Accountant licensed in California and Virginia. He is a member of the American Institute of Certified Public Accountants and an associate member of the National Association of Personal Financial Advisors. Sean has degrees in accounting, law, and taxation and a certificate in financial planning. The original post is located here: https://fitaxguy.com/2020/10/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices
Sean Mullaney of FI Tax Guy talks about tax planning for inherited IRAs. This is part 1 of 2. Episode 1884: [Part 1] Tax Planning For Inherited IRAs by Sean Mullaney of FI Tax Guy Sean Mullaney is a financial planner and the President of Mullaney Financial & Tax, Inc. Mullaney Financial & Tax, Inc. offers fiduciary, fee-only, hourly, and advice-only financial planning. Sean established Mullaney Financial & Tax, Inc. after a lengthy career in public accounting. He worked in the tax departments of both Deloitte & Touche and PwC, including over 6 years in PwC's Washington National Tax Services practice. Sean is a Certified Public Accountant licensed in California and Virginia. He is a member of the American Institute of Certified Public Accountants and an associate member of the National Association of Personal Financial Advisors. Sean has degrees in accounting, law, and taxation and a certificate in financial planning. The original post is located here: https://fitaxguy.com/2020/10/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices
Ed breaks down the cumulative impact of federal and state taxes in retirement looking at Traditional IRAs and 401(k)s, Social Security, pension, annuities, and dividends. He also provides an update on Secure Act 2.0 and the proposed provisions as they stand now as this legislation works its way through Congress. You can reach Ed Storer and the team by calling 800-563-7030. The Wealth Training Academy See omnystudio.com/listener for privacy information.
What should you do when you have retirement savings but a lot of consumer debt? David shares his thoughts on debt and how to tackle in before answering three other listener questions. What we discuss on this episode: 0:50 - David is looking forward to some upcoming travel and celebrations! 2:33 - Mailbag: Should I use my 401(k) to pay off my consumer debt? 6:42 - Mailbag: How do I show a potential advisor they should include me in the discussion? 10:23 - Mailbag: Was it a mistake to start taking Social Security at 62? 14:33 - Mailbag: Is diversifying with multiple IRAs a good idea? Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
With the SECURE Act's 10-year payout rule, it becomes more important to understand how income flows from IRA to trust to beneficiary and the surprising consequences that may arise. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews Jere Doyle, JD, LLM. Jere responds to these questions: From a fiduciary standpoint, what happens when an IRA is payable to a trust? What unintended results can happen when a QTIP or conduit QTIP is in place? Why is flowcharting and spreadsheeting how the estate plan will pay out so crucial to planning? How can separately managed accounts get around the fiduciary accounting income allocation rules? What changes when paying out from a Roth IRA to a trust? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access the PFP/PFS exclusive Proactive Planning Toolkit to get Bob's 2022 planning decision charts. Hear more from Bob, Jere, and other top experts at the upcoming Advanced PFP, Advanced Estate Planning, and Advanced Tax Strategies for High Income Individuals Conferences at ENGAGE in June (attend in person or virtually). This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
Scott and James discuss how to give more effectively using Donor-Advised Funds. Listener Question Hello! I love the show. I think I've had a chance listened to over 100 episodes. Have y'all considered an episode on giving? I recently started use using a donor advised fund, giving away some highly appreciated assets instead of cash. Are there any more strategies that I can use to be generous? Anything out of the box? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:34 - Charitable Giving 5:38- Deductions 8:09 - Effective Giving 15:38 - Utilize Tax Benefits 20:35 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don't miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here
This episode is for you if you're still in the stock market and if you're still putting all your money into your 401Ks and IRAs. You're about to lose your retirement and you need to do something about it NOW! Key Talking Points of the Episode [00:00] Introduction [01:54] Invest with PreREO! [02:47] Are you about to lose your retirement? [03:50] The psychological nature of the stock market [05:13] Can anyone really time the market? [06:35] Why do we have to sell at certain prices? [08:47] What's the problem with buying all the time? [09:50] Is the stock market going to get you the freedom you want? [11:59] Does the S&P 500 help diversify your investments? [14:20] Are you okay with gambling your money? [15:05] Will the stock market go back up? [17:15] Beware of the bear! [18:43] What is really happening to the market? [19:24] Why shouldn't we listen to politicians and the feds? [21:07] Why is a correction inevitable? [22:13] What could you do to protect yourself from the market correction? Quotables “If these were the hunger games, being in the stock market means you're the first one dead.” “There are bullish markets, that's what we saw for the past 13 years. Bulls go up, bears go down.” “The problem is that you're not smart enough to time the market and to some level, it's true. None of us know.” “We just have this natural, subconscious tendency to not want to lose anything.” “We're moving into something different and as a result, we're seeing the stock market change too.” “If you've got money saved in your 401Ks and your IRAs right now and it's all in the stock market, you're still gambling.”
Hey everybody. In this episode, I have a fascinating conversation with Heather Dreves who shares some secrets on how to get returns from your real estate without being an expert. Grant Everybody, this is Grant, Welcome to another episode of Financial Investing Radio in the house with me today is Heather Dreves of Secured Investment Corp. Now someone reached out to me and said, Hey, have you taken a look at Heather's profile. And when I reviewed it, I started to realize, hey, there's some things that she's talking about that I've been able to dip my toe in, in the real estate space. And when I saw what she was doing, I thought, oh gosh, this would be really fun for us to hear more about the unique solution that they're bringing to clients. So let me take a breath and say welcome, Heather. Heather Well, thank you for having me. I'm excited to be here. Grant Very good to have you here. And you know, when we were talking before we got started, I think you probably live in one of the most beautiful places on the planet, which is awesome. So thanks for coming out of the cocoon of beauty where you guys live, talking with the rest of us. Okay, so first things first. Tell me a little bit about how your dreams and what got you going into this business area in real estate? Heather Yeah, well, I think everybody has a story, right? Like, a lot of us started with something else. And then was led down a path that was probably a better calling, per se. I went to college to be a teacher and decided I really liked my children but wasn't really interested in spending all day with everybody else's kids. That's it. Grant That's good to find out. Heather Yeah, yeah. Well, my kids gonna test it out. They're like, You were terrible at helping us with homework. But anyway, so stayed home with our kids for a long time, we were kind of entrepreneurs and my husband was running an indoor soccer center facility. But I had a very good friend of mine that was in the private money industry. So when our youngest son was in school full time, I decided to go back out into the adult world. And he's like, you know, come to work for me. I said, I have no idea what you do I have a mortgage, is it the same thing? He's like, No, come down to my office. So long story short, 20 years ago, walked in there and just, it blew my mind. I had no idea that one, if you were a real estate investor, you could get funding outside of a bank and traditional sources. And two, I had no idea that you could invest money that way. I thought everybody went to a financial advisor, everybody, you know, stocks, bonds, mutual funds, like I just I was, my eyes were wide open. Grant I mean, that's such an uncommon knowledge just right there. Even some of our listeners will be like, wait a minute backup, say that phrase again, you can do what say that one more time. Heather So you can buy real estate, and get funding for real estate transactions outside of a bank. So you can acquire what we would call private money lending to buy real estate, a lot less restrictive than a bank, you know, they typically private lenders will look at what we call an after repair value, which banks don't do, you know, they want to know what's that property worth as it sits, and that's the most they're gonna lend on it. private lenders are much more creative. And they can look at a property and say, hey, I can see the value you're going to add, and I can see your vision. Absolutely will end on that. And so, that was mind blowing to me first. And then I started started with working with investors that said, you know, I've got money in the stock market, but I also want to invest in real estate. But here's the deal. I don't want to own the real estate. I don't want to rehab the house. I don't want to deal with a tenant and toilet but I want to reap the benefits of that. Grant So intended for more passive participation. Is that the idea? Heather Absolutely. Yep. So I'll huge majority of my clients, you know, have been active real estate investors in the past. They like real estate as an asset class. Again, they don't want to do it themselves, but they want To be the lender per se, and so there was this opportunity to match active real estate investors with people that are looking for a more passive Path to Wealth and and match the two and it benefits everybody. Right? Grant So what's the what's the typical profile of someone coming to service like this? Heather I would say on the borrower's the active investor side, you know, there there are people fixing and flipping, and they're everything from the guy that has a full time job that's doing it on the weekend to the very active clients that are for like 100 houses, really now they don't want to deal with a bank. There's too many restrictions. You know, we obviously have a very clearly defined guideline process and underwriting process, but it's much different than a thing. We're we're focusing on the asset, and then also focusing our attention on the borrower, we're making sure that they have the financial wherewithal to actually finish the deal. Can they make the payments, you know, all those things, we look at credit. But then on the on the passive side, the clients I mostly deal with there, you know, one of the niches I've really gotten involved with is high net worth dentist right now. Grant Did you say dentists? Heather Dentists. Grant Okay, I did not expect you to say dentists. Heather Well, here's the thing. They have tons of capital, right? Yeah, they have no time to manage their money invested, you know, and a lot of times their biggest asset is their business, they'll sell their practice, when they retire. Now, they have this influx of massive capital. Oh, interesting. A lot of them are very educated with real estate, but they don't have the time to do it. And so I would say that the profile for my passive people are people that have started to create some wealth for themselves, and they want to either create cash flow, so maybe they're retiring. And they don't want to tap into what they've saved, but they want to live off their earnings. Got it, or a new niche I've really I'm pretty excited about is our growth minded clients. So you know, I don't know how much you know, about a real estate fund. But for a long time, you had to be a high net worth accredited investor to even ever think of investing in these types of funds that we're talking about REITs. Yeah, well, we are similar to a REIT. But we are a privately managed real estate. Oh, interesting. Okay, got it. Well, we're privately managed, but the model is the same. It's real estate assets, throwing off profit. And that's how people make money as off their earnings. But 10 years ago, you could only open that type of fund up, if you were what's called an accredited investor. That's the only people that could invest. So you had to have a million dollars in assets over income of $200,000 a year 300. As a couple. We feel really passionate, we think everybody should have the opportunity create wealth. So four years ago, we actually have the ability to open up what's called a Regulation A fund, and anybody can invest in it. We started our minimum at $1,000. And it's open to anybody, and we pride ourselves on this, it took a long time to get approved for this spot. Grant That's fascinating. Okay, that's the first I've heard of something like that. How many organizations do that? Heather I mean, I haven't heard of anyone, not many that are a real estate fund. Most of the time, they're a crowdfunding platform. So you're, you know, you're investing in a platform, that's an angel investor, or they, they provide business loans. There are only a few real estate funds in the United States that were approved for that. So it's pretty uncommon. Grant That is, wow, that's very interesting. Okay, that must have taken a lot of effort to get that I mean, so that's feels like that's such an untapped market too. Huge market. Heather What we cater to is we work with a lot of clients that have 401k Is that they didn't move from a previous employer have small Ira balances, you know, they funded it with six grand and, and then they never did anything with it. This is a great opportunity for those kinds of funds. You can roll those accounts over to self directed custodians. So they're still tax deferred, you're not, you're not taking a distribution on it, okay? You're just, you're just now deciding where you want to invest it instead of having a financial advisor or a money manager, and I'm not here to tell you to people to pull all their money out from their financial advisor, really, it's just a way to diversify. And it gives people the ability with small dollars to invest in real estate because a lot of people think, well, I've got to have, you know, a couple 100 grand to buy real estate, no, you don't, you could invest in a fund that's investing in real estate and you reap the benefits of it and you have zero headaches. Grant That's, that's awesome. So let me say back to you because it sounds almost too good to be true. Okay. You're telling me that someone could take their four When k or whatever other capital they have, there's not a bar, a minimum bar, they can roll that into this investment fund investment fund is going to be making the investment decisions, as well as managing the properties. And these people then just participate that investment participate in sort of a passive, passive return is that you said? Heather Yep, yep. Grant That's really awesome. Heather Average yields are eight to 9%. We've managed funds for 10 years. So we have a really good track record. They are very regulated by the SEC. So there is a another set of eyes overseeing it. And they're fully audited funds. Grant Okay. Okay. Then what's the risk side? Heather Well, the risk side is, you know, not any different than any other investment, right risk is the market shift values decrease, I will tell you that our funds are a little bit different than most in the sense that we focus around residential real estate, okay. And we were not what people would call a syndication where we're investing in apartment complexes, we focus our investments around single family up to four units, all in the affordable housing market space. So we do two things with the funds. So part of the fund, we lend the money out. So real estate investors that are wanting to fix and flip we'll lend them money, we take a first lien against their property. So worst case scenario, they don't pay, we foreclose on the house. And now we own a house with 30% equity in it because we don't lend more than 70% of the the other portion of the fund we buy real estate, specifically in Coeur d'Alene, Idaho, and Spokane, Washington. So we invest in projects locally. We don't preach people trying to manage a rehab five states over and we don't do it either. So that's our model. Grant So are all of your properties in that area, then? Heather Yes, all the hard assets that we buy are only local, we went out is nationwide. Grant Because I've worked with I've worked with some groups that will take the approach of the look for places in the US where the volatility of the real estate market is small. The intent is to create a cash flow through sort of this renter model, if you get appreciation on the property great, but it's not about that it's more about sort of that rental cashflow. How different are you from from something like that? Heather Well, we look at all of that. And that's another reason that we stay in the affordable housing market space. Because let's let's say that, you know, our exit is to rehab a house and flip it and the profits flow back into the fund and the market shifts. When you're in that affordable housing market space, you have a huge opportunity to cash flow that property in the event that you need to write out, you know, values decreasing. So we're much like that. And I think you'll have to be as a fund manager, you have to be nimble, you have to have multiple strategies. If you start relying on one stream of income for that fund, you're in big trouble when things change. And so we're much like that I you know, in the past, we've done very well, fixing and flipping, and our clients have done very well fixing and flipping, we're right now educating our clients that hey, some markets are turning like in an inflationary time, real estate's a great place to be. But it's also a great place to be for rental market. And so we're seeing a ton of opportunity for cash flowing properties. And so we're starting to add that to our to our portfolio. Grant So a couple minutes ago, you were talking about another class of investor that sort of a high growth or high high growth minded and then I think I may have entered interrupted you on that. What is it about them that you find interesting? Heather Well, the nice thing about our funds is when people make a decision to deploy capital through our funds, they can set their accounts up however they want. So what I mean by that is, they can either set their accounts up to reinvest their earnings. So earnings are paid out monthly. So we pay out all profit, which is really different than most real estate funds. Because if you're investing in a fund that's buying an apartment complex, for example, typically your returns are realized five years down the road, you get the benefit of depreciation, which is great, but you don't typically see your high yields till they sell that property. Right, right. Are our funds cash flowing? So we're lending on loans or paying off or buying properties? We're selling them. So all those earnings or profit are paid out every month? So you can either reinvest your earnings and roll them back into your equity membership, which is yeah, if you're working with self directed IRAs, that is an awesome option because you don't have these dollars going back. All right, and then they sit there and deploy until you have enough so you can reinvest for more growth minded clients, or for my guys that are looking for cash flow, you know, retired sold their practice trying to replace their income. They liked the monthly model because they're getting, you know, the earnings. Yeah. Grant So on the property, so sorry, Heather, quick question on the property itself when it's purchased, is it the fund that is on the property that owns the property? Or is it you know, allocated to the individual? Heather No, the fund owns the prop. Yep. Any loans that we originate? The fund is the lien holder. And that that's another thing is these are tangible assets. So risk is, at the end of the day, the markets go haywire, we just start liquidating assets and paying people off would be worst case. Right? Grant And that's how that's very interesting. Because, you know, I, currently, my wife and I, we invest in properties, but we do it where we're the first in other words, it's, it's, it's on us, right? So we have property managers that certainly take care of it, because we really like that, you know, cash flow kind of idea, right? And you want to be sort of passive with it, for sure. But at the end of the day, it's it's my name on it, right. And I think that's a unique thing about what you're describing there. I'm listening to a gun, though, that would distribute the risk, right, and spread it around there a little bit as as the individual investor. Heather Very cool, right. And that's what you know, a lot of people like, I have a large percentage of my clients have done real estate in the past, they've owned rentals they've owned, they've funded notes, they've fixed and flip, they, you know, developed and they're kind of at the point where they've, they've got capital now, and they don't want they want to retire. They, they want to, they want to golf, and they, they don't want to hear from a tenant that their toilets plugged in the middle of the night, you know, even though you're using a property manager at the end of the day, it's still you paying for it. That's right. That's right. You know, that's where I think there's benefit there. And then also for our clients that have smaller dollars that, you know, our husband and wife both working full time with kids, they don't have time to be rehabbing a house, this is a way that they can start to put that money to work for them. And it's shocking how quick it grows, especially your tax deferred accounts, self directed IRAs, and self directed 401. K's are like, people don't talk about it enough. It's, you know, you can do traditional, you can do Roth, if you're not working currently, for the employer that provided the 401, you can roll that over and start deploying that capital. So there's just so many other options out there that I just don't think people are aware of. Grant What's your take on potential impact to this model with, you know, interest rates slowly nicking up there from the feds and such any any concerns there? Heather We do. We talk about it. We meet multiple times a week, there's three fund managers to include myself, I think what we're already seeing, I mean, our market is a little different. It's still very hot, but we're starting to see it take longer for houses to sell. I think prices are going to stabilize. I don't know that we're going to see a I don't think we're going to see a downturn like 2008. I don't think that's going to happen. banks aren't lending at 120% of value. But at some point, I would I think homeownership is going to be affected and there's going to be a huge opportunity in the rental market. Grant I think it'd be a soft landing, right? Heather Yeah, yeah. Well, there has to be right. Yeah. You you can't have interest rates as low as they were in values increasing at the pace that they were. Grant No, it's crazy, right. Especially what the last. I think you're saying before we started chatting wasn't like you've seen it just in the market year and 40% valuation increase just in the last two years. Is that right? Heather Yep. Grant Yeah, boy, that's in the Wall Street. Yeah, that's better than this. Heather We bought a little house close to my office down here. My our younger son was going to call it there's actually a small junior college here. And three and a half years ago, we bought it for 200. And I was sweating bullets. I thought, oh my god, we're just overpaying for this house. The house next to it just sold for 450. I was like, Why didn't we buy like five of five of these? Yeah, I was thinking but you know, it's but but again, that shows you that a lot of locals in this market are selling because it's a huge opportunity, right? They'll never make as much money but now they're displaced. And that's why as a as a fund management team, we're saying hey, multifamily, small multifamily. We have several duplex projects going and for plexes because people have to have somewhere to live and at the prices that have increased here, you know, most of the locals can't afford it. And so they're going to be you know, looking for housing. So we think that that the housing market right now, is it the opportunities in rentals? Grant Yeah, that makes sense. Quick question about your clients in terms of preparing them. So given that some of these models are new to a certain group of people, what do you guys do in terms of getting people up to speed or educating them? Is that some of the things that your organization does? Heather Yeah. So the interesting thing about our company is we actually are an education company. First and foremost, we put on so it's interesting, we used to put on live events, like maybe at most for a month, usually two to three will COVID hit. And as everybody else in the education space that did live events, quickly, you're either closing down or you're pivoting saying how do we still pull this off? So what's really cool about that is we went live with all these these events, webinars, podcasts, online live events, and now we put on anywhere from three to four a week. So yeah, so and they're everything. They're from a grant, you want to buy a piece of real estate, we're going to teach you how to rehab it too. Hey, Grant, you want to be a loan broker? We'll teach you how to do that. I am mostly involved with a lot of webinars where I just did one last week, and it was all about how to buy a note how to educate people about how to buy a mortgage, or what some people call a first lien. How do you do your due diligence, what do you look for? And so we just, we really believe in helping our clients be the most educated they can to make the best decision, you know, and and so a lot of webinars, we have one tonight, we do every first Monday of the month, called our CEO, fireside. And that's all going to be focused about around the rental market. So education, just tons of online, tons of education. Grant Perfect. And where would someone go to find those webinars? Heather So they if they're want to learn more about the passive investing side of things, I would send them to our main website, which is at secured investment Corp, no plural in their secured investment Corp. There they're going to learn there's tons of webinars, different podcasts I've been on. And that's more your education about passive investing. If they are a more active real estate investor, they want to go find the deals they want to make offers, they should visit our website at Lee Arnold System of real estate. Grant Sorry. Did you say Lee Arnold? Heather System of real estate system real estate? Got it? Okay. All right. Yeah, that's awesome. Kind of two different paths, it kind of just depends on what they're really trying to accomplish. I mean, that's what I talk with my clients is like, what are you trying to accomplish? How much time do you have? And how much capital do you have to actually commit to that? And then that typically dictates what path they're going to take? Grant Is it pretty evenly split? Or do you see more people going passive? What's What do you observe? And Heather I'd say it's pretty evenly split. Honestly, you know, I think for a long time, it was heavier on the, you know, everybody, you know, you got HGTV, and they make rehabbing look like it's I've I've rehabbed and I never looked like anybody on HGTV, and my husband and I almost divorced each other. So I said, I thought we were going to be like, Chip and Joanna, like, this was a thing. I was like, Oh, it was good. Like, that was a big buyer, you know, through COVID, you know, you couldn't get into buy houses, you couldn't get the county out there. Now you're having supply chain issues, you can't get materials. So I think it has started to shift a little a lot of people have left employers through COVID. And now they've got these 401k sitting there. And they're going What am I going to do with this? So I think that's created a lot of opportunity and interest in the passive side of it. So I think it's right now it's probably 5050 5050 Grant Awesome. Okay, while Heather, you've just been incredible sharing these, these experiences that your organization's had and the value that you're bringing, I have a quick question. Are you still doing CrossFit? Heather I am I'm getting back into it. I kind of fell off the CrossFit wagon. Last year we moved we were, you know, again, developing five acres like it was going to be the big glamorous thing. So yeah, I not as much as I was but I'm getting back to it regularly. Grant That's awesome. I love your story and what it is you're doing for the market and for people changing lives and given them a livelihood to build on all the like you said all the nest eggs they've developed in a way that's got a sounds like a lot of risk taken out for the people. So that's amazing. Heather We're here To educate people and give them a pathway to create, you know, generational wealth for themselves. And we just strongly don't agree with the fact that you have to be a high net worth individual to take advantage of this. So we pride ourselves on the fact that we we have a real estate fund with people with as little as $1,000 can invest in. Yeah, people have to start somewhere, they really do. Grant Well, and you may have a free, you may use the phrase there that I love, which is around generational wealth. And sometimes that gets in the popular culture that's not talked about much. But for people that are being intentional with what they're trying to do for their families, those kinds of strategies mean a lot. So the fact you've made it accessible to the masses, and you're helping them solve that generational wealth problem. That's that's really awesome vision that you guys have any last comments that you'd like to share? Heather No, I mean, I guess I what I would like to share is if you have any interest, or you want to become more educated about self directed IRAs, and 401, K's just for clarification, we are not an IRA custodian. I'm not a tax professional. But I know a lot about those accounts. And I would encourage anybody, if you even have a small interest in it, get a hold of me and my team, you can get a hold of me at our website at security investment corp.com. And we'd love to give you some references for you know how you can set those types of accounts up if there's one thing people take away from this this presentation is that there is opportunity for investment through tax deferred accounts. Grant Very cool. Wow, what a great, great service you guys are providing Heather, thank you for taking the time with me here today. I appreciate that. All right, everybody. Thanks for listening to another episode of Financial investing radio and until next time, go check out Secured Investment Corp. Thank you for joining Grant on Financial Investing Radio. Don't forget to subscribe and leave feedback.
Zuby is an independent rapper, author, host of “Real Talk with Zuby,” life & fitness coach, public speaker and creative entrepreneur. He was born in England, raised in Saudi Arabia, and is a graduate of Oxford University. https://www.zubymusic.com/podcast REFERRAL LINKS: Coin Stories is powered by BITCOIN 2023, which will be the BIGGEST BITCOIN EVENT IN HISTORY held in April 2023. If you missed Bitcoin 2022, make sure to head to @Bitcoin Magazine 's page to find videos and highlights of all the biggest events and panels. You can get an early bird pass for Bitcoin 2023 at a steep discount if you head to: https://b.tc/conference/2023 *** Okcoin is on a mission to make crypto investing and trading easily accessible to anyone around the world. We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto. Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. We are a collective of global citizens with a common passion to help decentralize finance and level the economic playing field for everyone around the world. Visit https://www.okcoin.com/natalie for $50 in Bitcoin when you sign up. *** With iTrustCapital, you can actually invest in crypto without worrying about taxes, or fees. iTrustCapital allows their clients to invest in crypto through an individual retirement account, or an IRA. IRAs are tax sheltered accounts, which means all your crypto trading is tax-free and can even grow tax-free over time. The best part is that it's totally free to open an account, and there are no hidden fees.You don't need to pay any monthly subscription or membership fees either. If you open and fund an account, you will get a $100 funding bonus added to your account. To learn more, click the link below and open a free account to learn more. https://itrust.capital/nataliebrunell *** Fold is the bitcoin rewards debit card and bitcoin-back shopping app. Earn bitcoin on everything with the Fold bitcoin cashback debit card. https://www.foldapp.com/natalie Timecodes: 00:00 Promo Codes 01:59 Intro 02:17 Born in London, raised in Saudi Arabia 07:17 2011 left full-time job to become full-time rapper 07:58 Hip-hop influences 11:18 Dad was a doctor, mom was a journalist 12:15 Parents supportive of the path to rap? 13:55 Saudi Arabia misconceptions 24:52 Relationship with money growing up 28:43 Journey to computer science 31:30 Early understanding of Bitcoin 33:05 iTrustCapital break 33:53 Fold break 34:25 Path to Bitcoin 37:52 "No turning back" after leaving job 39:12 Going in on BTC 42:14 Why the strong belief in Bitcoin? 45:25 What shifted in 2018 and 2019? 49:50 Going viral in 2019 52:15 Follower growth, COVID views, mask mandates 58:03 Being called "right wing" 1:06:08 How Bitcoin can fix the world 1:12:09 Future of BTC 1:18:17 What drives Zuby? 1:19:41 Advice to young Zuby
Most investors are familiar with using conventional mortgages on residential property, but how do loans work in the commercial space, or after you have hit your 10 conventual loan limit? In today's episode, Emil and Michael walk through what you need to know about using a commercial mortgage. --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions, and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals. Michael: What's going on everyone? Welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum, and today I'm joined by my co-host… Emil: Emil Shour. Michael: And today we're gonna be talking about a topic that I've been getting a lot of questions about inside the Roofstock Academy and that's commercial mortgages and what do I do with I've hit my 10 loan limit on the conventional side. So let's get into it. Emil, what's going on, my man? Emil: Hey, dude, how you doing? Michael: Hanging in there, traveling on the road. Hanging out, no complaints how you doing? Emil: As always…I'm good, I'm good man. Just ready to talk real estate and loans, conventional commercial. I mean, this is it is an interesting one, actually. Because I think when you're new, and you hear about like the 10 loan limit, you're like, what do I do after that? I remember being like, what am I going to do after that and then you learn a little bit more about commercial, you're like, oh, this isn't that complicated and it's really not that much more expensive from an interest rate perspective. Michael: Yeah, yeah. It's so funny, I hear the same thing all the time from folks like, oh, what I do, like, I can't get started investing in real estate, because what if I hit my 10 limit, like you have a little worry about that after you have 10 properties, like, that's a great problem to have and by that point, most people figure out an alternative source of financing anyhow, so. So I just, you know, let's start by talking about what a conventional mortgage is kind of how it works, what the mechanics are of it, and then we can transition to talking about commercial mortgage. So Emil give me the breakdown of what a conventional mortgage looks like, and sounds like and what some of the terms are. Emil: Sure and please correct me if I incorrectly say any of this. So conventional mortgages, you know, your typical bank will loan these out, they are usually government backed, they come in 30 or 15 year amortization, meaning that is the life of the loan and the repayment period. What else am I forgetting here? You pay your I mean, do we want to get into like the nitty gritty like, most of your interest is paid up front, and then more, your principal is paid on the back end. So it's not like a linear payment through those 30 or 15 years, but… Michael: Not yet, I think that's perfect, man. So most people, when they go to their bank, they're gonna see their 15 year fixed, 30 year fixed, they also have ARMs, a lot of banks will offer ARMs, which just as an acronym for adjustable rate mortgage and you'll usually see that as a five one or a seven, one or a 10 one and that first number is just how long the interest rate is fixed for. So in a five, one situation, it's fixed for five years, and then it adjusts once per year, every year, is what that five one means and that amortization can either be a 15 year or a 30 year, I believe, but check with your lender see what options they have and just like Emil mentioned, the, it's like how many pieces the loan is cut into is the amortization, so 15 years, you're gonna pay 15 years by 12 months, or 30 years gonna be 30 years by 12 months. So on a shorter mortgage on a 15 year mortgage, your payments are going to be higher for the same interest rate, because you're just paying it back sooner. So let's shift gears here a little bit and talk about commercial mortgages to you I can't remember called do you have any yet? Emil: I don't, I have only used since I've only bought single family and two to four unit, I've been okay using conventional 30 year fixed. Michael: Awesome and that's a great point to that, like for everyone listening, that might not be familiar, two to four units, you can still use conventional financing. So you can still go to your Standard Bank get a mortgage on that property, commercial is anything five units or greater and this can take the form of a couple, this can look like a couple of different things. This could be five single family homes purchased as part of a portfolio that you want to put into a single note or a single mortgage, as opposed to having them on each individual five mortgages. So you can go can commercial that way or it can be a five unit building a small apartment building small multifamily and so commercial mortgages work a little bit differently and one of the biggest differences is that the lender is going to look to the property or the asset to carry the debt as opposed to you as the borrower. So anyone who's gotten a conventional mortgage for the for their primary or for an investment property is likely familiar with the full cavity search that the that the process the mortgage process is and so they want to see tax returns and income statements and bank statements and who your mailman was at your last three properties and all that sort of thing. So it's just like it's so intense, which is great and a big part of that came about after 2008 people said, hey, we have to get stricter with our lending requirements so that people aren't defaulting on their mortgages causing this whole, massive tailspin. So the lending institutions really tightened up and I think that's a good thing. People who shouldn't be getting mortgages are having a harder time getting them. Now, the commercial industry is a little bit different, because those loans tend to not be backed by the federal government, like Emil was talking about Fannie and Freddie are two government industries, agencies that back and often purchase these mortgages, the commercial world is a little bit different and so a lot of these mortgages are actually kept on the books of the lender and so that's often referred to as a portfolio lender, the mortgages, they on their portfolio are part of their portfolio and so because of that, they don't have the same lending requirements that conventional lenders do and so they can actually look to the property or to the asset itself to say, okay, this is what the taxes are this with the insurance are, this is how much the debt services or the mortgage payment is. That means there's this much leftover for you okay, the property works, the numbers work and what they're often looking for is what's called a debt service coverage ratio, or a DSCR of some number, a lot of banks use 1.2, or 1.25 and they want to see, okay, the debt is $1,000, I want to see that the property brings in at least 1200, because that's going to be a 1.2% debt service coverage ratio. So they're taking the fraction of how much the property brings in as compared to how much debt you have on the property, they're also going to look at what the taxes and insurance and other expenses are an underwriting accordingly. But that's in essence, what they're looking at, they are going to be concerned with you as a borrower, they make sure that you have money in your account that you're not in the middle of a bankruptcy, and that you haven't defaulted on a bunch of other loans. But you also have what's called non-recourse loans, which are basically where the lender is saying, okay, if you default on the loan, we're not coming to you as an individual, we are going to just take the property back, and we'll deal with it afterwards versus full recourse is, hey, you still make your mortgage payment, that lender is going to take the property back, and they're going to come after you to get their full payment back. Emil: I have a question for you, Michael, what is when are you usually eligible for non-recourse? Because who wouldn't want non-recourse? Michael: Yeah, so some lenders offer it at a certain dollar amount for the loan, that's the threshold like over a million dollars is non-recourse, or you can potentially buy it and so you can pay a higher interest rate to have it be non-recourse some lenders will offer that and so it's a really good question to ask lenders as you're having the conversation with him is, hey, is this recourse or non-recourse? Oh, if they tell you it's recourse, ask them if there's an option for non-recourse and see what they say. Because you're right, it's given the choice, non-recourse is definitely better. I have the vast majority of my loans are full recourse. I'm a personal guarantor on these loans, even though they're made to my LLC, the loan isn't the name of the LLC, I'm a personal grantor on these, but I'm in the business of paying back my loans. So I'm, I'm less concerned with the non-recourse part. But again, all things being equal on choose a non-recourse 10 days at a 10. Emil: Did you choose recourse because you got better rates and for all the like the reasons you meant, you're just getting like, it's cheaper, I guess, for you… Michael: It's cheaper, and it really wasn't an option for a lot of the loan sizes that I was taking on. I just now to get a loan on a on a commercial property ownership on that property that I own with my two brothers. And that was non-recourse half of its non-recourse half of its full recourse qnd then similar on another loan that I'm working on for cash out refi up to x dollars is full recourse and everything above that was non-recourse. So I'm getting into that kind of sphere now. Emil: Very cool. Michael: Yeah, it's a pretty cool thing and then we did a webinar last night for Roofstock Academy and somebody asked a question about getting Portfolio loans out of their self-directed IRAs and I'm pretty sure that all of the lending done in the self-directed space is non-recourse, but definitely check with those lenders who are lending there as well. Getting back to it, so the terms are just going to be a little bit different on your commercial property, the amortization period is gonna be a little bit shorter, typically gonna be 20 or 25 years, and the fixed term of the interest rate is kind of like an arm. So that first number you see, in a commercial loan statement, it could be a 525. That first number five is the fixed period, just like with an arm, and then the second number, the 25 is the amortization period. So 520-525-1027-20 these are all very common mortgage terms, and amortization periods and again, it's just important to keep in mind that the shorter the amortization period, the more expensive or the larger the monthly loan payment. So I'll just give everybody an example here. On a 200,000 to $250,000 property, you put down your 20% 50 grand you have a mortgage of 200,000 at a 4% interest rate on a 30 year amortization, your payments 954 if we shorten the amortization period of 20 five years, your payment goes up to 1055. So about an extra 100 bucks a month by shortening the amortization period by five years. So again, just want to be aware of as you're running your, your analysis, make sure that you're getting your amortization periods, right. I know a lot of folks are using a 30 year calculator, make sure that you adjust that accordingly, if you are going commercial, or you are using a different amortization period. Emil: Aren't there commercial loans where it's like amortize over 25 years, but there's a balloon payment at the end of like 10, where you basically have to refinance or pay the whole loan or something. Michael: Yes, super good point Emil, so you want to make very sure that you understand how your loan operates at the end of that fixed interest rate period. So oftentimes, what you'll see is the loan, let's call it a 525, at the end of that five year period, it's just going to reset, it's going to reset for another five years at whatever the prevailing interest rate is, and most lenders will say it will never go below your current rate. So let's say you're a 4%, five year fixed for over 25 years, and in five years, now rates are at 6% well, your loan is just going to reset at 6% for the next five years, if rates go down to 3%, your loan is going to stay at that 4%. So you might have to refinance, go through that whole rigmarole process to get a better rate. But you could also talk to your lender about hey, you know, rates are dropping out, let's talk about a loan modification kind of thing, which is I mean, I've done in the past and that's really one of the benefits of a portfolio lender is that they keep the loan on their books and so they can be a lot more flexible with what they're doing with their loans, as opposed to the conventional world that serviced by a servicer, there's really not a whole lot they can do to change it without going through the full refinance process. So what Emil your referencing is if the alternative type of loan is one that has a balloon payment at the end and so if we go back to our 525, five year fix over a 25 year amortization period, at the end of that five year period, you might actually owe the entire remaining balance of that loan. Now, you've only paid it off over five years. So you're only 20% through that loan, and the majority of the interest is paid at the front and so you're paying very little principal at the beginning of the life of that loan. So let's say on that $200,000 loan, after five years, let's say you paid off 10 grand, I just picked it over. So you would essentially owe 190,000 still on that mortgage and that's due at the end of that five year period. So what it forces you to do is you've got to go refinance, unless you had a windfall, you had some cash laying around, you can go pay off that full balance, but what most people do is they end up refinancing a little bit 30,60, 90 days before the maturity of that loan, and then they'll go get new debt, pay off the old existing debt. Now they'll have a new mortgage, hopefully, at better terms, maybe it was even with some cash out, if you're in an appreciating market. So people tend to recycle this over and over again. Now something that's super important to keep in mind is the cost of capital, or the cost of doing a refinance or doing a loan. Most lenders are going to charge origination points, their title and escrow fees and so personally, I love locking in the longest term rates, the longest term loans I can get. Because if it cost you five grand to do a loan, and you're doing that every five years, that can start to add up pretty quickly and so even if I've taken a slightly higher rate on the interest rate, but I get to lock it in for 10 years, I can calculate out, okay, if I'm paying an extra $50 $75 a month on the mortgage, because I take a higher rate, but I'm saving $5,000 every five years by not refinancing. That's a pretty big win in my book. So definitely be strategic and look at the math and the numbers behind what type of mortgage you're getting conventional versus commercial, and also what the what the physical cost of capital or the cost of closing those mortgages are because again, it might be sound counterintuitive, but sometimes taking a higher rate for a different type of product could be the right move for you. Emil: Yeah, especially if you, you know, feel like interest rates are never going to be lower than they are now. Why not take like, as long of that rate, you know, even though it's higher, it'll still, you know, you may think it may be lower than 5-10 years from now, so lock it in longer. Michael: Yeah, lock it in for as long as you can. I mean, that's something that I've just spent the last six months doing is actually found a lender that would do 30 year fixed on multifamily commercial property, so five units plus and so the rate is like four and a quarter 4.3 which yes is higher than what it would be for a five year fixed are a 10 year fixed on a 20 or 25 year am but I'm looking at it for 30 years and so that additional quarter percent or half a percent that I'm paying over the life of the loan, I'm happy to for this the assuredness that the rate is never going to move and at some point along that 30 year time horizon I'm pretty sure I'm gonna be comfortable and patting myself on the back for locking in a four and a quarter on commercial multifamily. Something else to be cognizant of is like I was talking about the portfolio lender, so asking are these lenders? Hey, are you the one who's gonna be servicing the loan? Do you keep it on your books or do you sell it because there is still a secondary market for commercial loans. It just usually not Fannie and Freddie. So I was working with a commercial lender and a portfolio lender, I kept everything on their books. Back in 2018, I think I did a cash out refinance with them, I bought a property all cash, I turned around 30 days later and did a cash out refinance for 70% of the purchase price, and then use that cash to do a lot of the rehab and I've talked about this on prior episodes, but I did that. So I could get the purchase price down by using all cash, and then just turn around and refinance a bunch of my cash out to then go do the rehab on the property and that worked out really well and so at the end of the day, it was basically a financed purchase for me, and the purchase price was lower than it would have been had I gotten in originally with financing. So that's the strategy that I really liked using. So when I got that when I got that refinance, the rate was 4.99 and that was a 10 year fixed over a 25 year amortization and the rate was fine at the time, like 4.99, that was a decent rate. But a year, maybe six months, nine months, fast forward, and rates had come down quite a bit and at this time, I was traveling internationally with my wife for the better part of a year and so I remember distinctly, like I was in Costa Rica, and I called my lender and I was like, hey, rates have dropped a lot. What can you do for me? He goes, oh, let me see what I can do. He goes, we can drop your rate to three and a quarter for 1200 bucks. And I was like, yes, let's do that. So literally, I signed two papers while in Costa Rica scanned it back to my lender, and he was able to adjust my rate, and the payback on that the like what I saved in in finance charges compared to that 1200 bucks was it was like a three or four month payback. So after that three or four months, I was making more money and saving more money than I was originally. So it's like, yeah, this is like a massive win. So if you can find those portfolio lenders, they can often be your best ally and they can be really flexible with their mortgages and I think asking them how their process works. Do they ever do loan modifications? What does the process look like? Really getting a good insight into the commercial lending space and commercial lenders, specific commercial lenders is really going to behoove you and someone on the webinar last night asked, hey, should you know should I go develop relationships with conventional or with commercial lenders, now, I'm only using conventional lenders, I think you should be doing both in tandem and in parallel, is developing relationships with commercial lenders, because at some point, you will likely need them and so have good relationship with your conventional lenders be talking to commercial lenders, and by the time you are ready, and need them, hopefully, everyone's going to be primed and aware of your situation and aware of what it is you're trying to do and that just makes that transition so much easier. As opposed to shoot, I hit my loan limit or my debt to income limit, I can't get any more loans I got I got this great property though. I gotta go scramble to figure out the financing. I think do it, do it in tandem do it in parallel and you'll thank yourself, your future self will thank your past self. Emil: I know this could be like a full episode. But if you had to summarize in 30 to 60 seconds, how do you go about finding commercial lenders, like where's a good place for people to start? Michael: Yeah, talk to your existing lenders, see if they have a commercial lending department, there are some banks out there that do and so you might already be aware of them. Other than that, I would ask for references. So from your local agents, local property managers, local vendors, any other investors investing in the area and as part of the restock Academy, we have a vendor discussion channel in our Slack thread and people are talking all the time, hey, who do you use for lending in this space? Are you flooding in this space and like, it's amazing, I got some incredible recommendations and the URL, Emil I know you did, too. Emil: Yeah, yeah… Michael: So it's an amazing, amazing community, so check out different communities online forums, see who people are talking a lot about, the good lenders tend to be talked about pretty regularly and if you can't find that, those fruits of your labor don't yield any results. I think that's a sentence. That's the same online just look at Hey, commercial lenders in Kansas City, commercial lenders in whatever market you're in, and see who pops up and just start cold calling folks and start talking to him. Part of the webinar last night, we showcased the some of the Roofstock Academy resources that we have and we have interviewed templates and questionnaires for folks and so we showcase our one about lenders interviewing lenders, specifically and also property managers. But we have this great like seven page questionnaire and interview template to interview lenders to help you get an understanding of okay, what are the pros, what are their cons? What types of questions should I be asking, especially if I'm brand new to the commercial space? So come check it out. It could be helpful https://www.roofstockacademy.com/ . But there's definitely conversations and legwork to be done on the front end. Don't just choose the first one that you meet. Emil: Solid! Michael: Thanks so much everyone for listening. Hopefully that was valuable and again, even if you're not someone that's taking advantage of commercial loans right now I'll bet you think you might be, definitely go start having those conversations, go start reaching out to folks and just learn a little bit more about the landscape. It will definitely behoove you for when you are ready for when you are there. So as always, if you like the episode, feel free to leave us a rating or review. We'd love hearing from everyone, as well as future episode topics and suggestions. We look forward to seeing you on the next one. Happy investing. Emil: Happy investing!
Have you ever had a tough time explaining investing to friends and family members who are unfamiliar with the stock market and its inner workings? Or maybe you still don't understand many terms thrown around by talking heads on CNBC or even 7investing's member calls? If you answered yes to any of those questions, Brian Feroldi's new book, Why Does the Stock Market Go Up?, might be for you. In this episode, Feroldi sits down with 7investing Lead Advisor Matthew Cochrane to discuss the lessons Feroldi covers in his book. Feroldi says that he devoured every investment book he could his hands on when he began investing, but some basic questions, such as "Why does the stock market go up?" went unanswered. So he set out to write a book that contained all the answers to his questions over the years about investing, which he had to figure out for himself. Feroldi emphasizes that the stock market is vital to average Americans, not just investing geeks. More than 100 million Americans invest through pension plans, 401(K)s, and IRAs. He says: "The stock market is the greatest wealth creation machine of all time. Period. End of story. The stock market literally enables ordinary people, with ordinary incomes, in one generation to build extraordinary wealth for themselves." Feroldi and Cochrane also discuss how stock prices can mislead new investors, as they'll often consider stocks such as Amazon.com (NASDAQ:AMZN) expensive and penny stocks as cheap. Another thing Feroldi says that can trip up new investors is a misaligned time frame. Saying you're a long-term investor in bull markets is different from acting as a long-term investor during market crashes. Feroldi then explains why the market has always recovered from crashes and bear markets. Finally, Feroldi ends the discussion by talking about Roku (NASDAQ:ROKU), a new stock that he's interested in after its precipitous fall the past year. Welcome to 7investing. We are here to empower you to invest in your future! We publish our 7 best ideas in the stock market to our subscribers for just $49 per month or $399 per year. Start your journey toward's financial independence: https://www.7investing.com/subscribe Stop by our website to level-up your investing education: https://www.7investing.com Join the 7investing Community Forum: https://discord.gg/6YvazDf9sw Follow us: ► https://www.facebook.com/7investing ► https://twitter.com/7investing ► https://instagram.com/7investing --- Send in a voice message: https://anchor.fm/7investing/message Support this podcast: https://anchor.fm/7investing/support
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Presentado por el nuevo servicio residencial de Aeronet: HomeFi. Se acabó el duopolio del internet rojo y azul en el hogar, ahora la conexión más fuerte llega a tu casa. Llama ahora al 787.273.4143 o visita homefi.pr, precios mensuales comienzan en $49.99. -- Roy Chévere, agente de seguros e inversiones. Activo desde el 2009, Roy se especializa en planificar estrategias de retiro y ahorro. Además de las IRA, roy tiene otros productos: Póliza (cubierta) contra Cancer, la que yo vendo te paga hasta 100K por diagnóstico a diferencia de las demás compañías qué pagan procedimientos y hay que estar sometiendo evidencias. Póliza de seguro de vida: Trabajo toda póliza de vida ya sea a término o con acumulación de activos “cash”. Son excelentes para suplementar plan de retiro, ahorros para estudios (college funding), Key Person, Buy and sell agreements. Y lo mejor es que al momento de retiro son diferidas de impuestos. Rollover de anualidades, 401K, cds o Iras. Movemos el dinero a un producto con mayor rendimiento en el mercado y sin cargos por servicios. Comunicate con tu asesor financiero patroncito al 787-209-8441, 787-209-8441. También lo puedes buscar en instagram como Cheverefinancial Mira qué chévere! — Los jabones Don Gato son hechos a mano, sin químicos dañinos ni detergentes. Elaborados con los mejores aceites naturales, esenciales y aromàticos, seguros para la piel. Pruébalos y siente la diferencia. Visítalos ahora en jaboneradongato.com y al utilizar el código "ppp" obtienes un 10% de descuento en tu compra. Síguelos en sus redes face book, instagram y twitter como jaboneradongato para mantenerte informado. -- En este episidio, Cabezón suelta bombazo sobre San Juan, Miguel Romero y JR Asphalt; te contamos la historia detrás del consenso en Washington sobre estatus, el PPD reúne a su Jedi Council, papelón para Rodríguez Veve en las vistas anti aborto, la Premisa Desquiciada gana en corte, demandan a Columna Corta por mala paga y nuevo bollete ambiental en Aguadilla. ¡Los y las suscriptoras de nuestro Patreon escucharon este podcast el sábado! Suscríbete en patreon.com/puestospalproblema y disfruta de una gran comunidad y beneficios exclusivos. Con Jonathan Lebrón (@SrLebron) y Luis S. Herrero (@lherrero). Sigue a PPP en Twitter, Facebook e Instagram. ¿Te gusta el podcast? ¡Déjanos 5 estrellas! Nuestro logo y camisetas fueron diseñadas por Gabriel René. Síguelo en @gabrielrodz | https://gabrielrene.com Nuestra música fue compuesta por CPR EFFE. Descarga su disco "Treinta y Ocho". ¡Riega la voz! Dile a tus amigos que se pongan al día escuchando PPP. Suscríbete a nuestro Patreon y recibe contenido exclusivo, artículos: https://patreon.com/puestospalproblema See omnystudio.com/listener for privacy information.
I interviewed Heather Dreves and we discussed how to do Due Diligence, a 3rd party company called Verivest. She shared information regarding buying notes and what are the important things to know before investing. Curtis's motto is that what you learn today and how you position yourself will determine your future financial well-being 5, 10, 20 years from today. To learn more about how to manage your wealth in a practical way, visit www.practicalwealthadvisors.com Links and Resources from this Episode www.practicalwealthadvisors.com Email Curtis for a free report - firstname.lastname@example.org Call his office - 610-622-3121 Connect with Heather Dreves https://securedinvestmentcorp.com/ https://www.linkedin.com/in/heather-dreves-6204a242 Special Listener Gift Schedule a 15-Minute Call with Curtis Free Ebook Financial Planning Has Failed Show Notes Who is Heather Dreves? The different types of clients Heather is usually working with What the four asset classes are Using self-directed IRAs to grow accounts tax deferred Understanding who your borrower is The reason for giving foreclosure notices What the process of buying notes to foreclosures work The downsides of buying notes Is the fund more of a appreciation or cash flow back into the IRA The two funds available for their company Purpose of doing compliance with operators handling your money Educating clients who want to start investing in real estate How to reach out to Heather Review, Subscribe and Share If you like what you hear please leave a review by clicking here Make sure you're subscribed to the podcast so you get the latest episodes. Click here to subscribe with Apple Podcasts Click here to subscribe with Spotify Click here to subscribe with Stitcher Click here to subscribe with RSS
Bitcoin for Kiddos is the perfect beginner book on Bitcoin! You can start the conversation with family and friends through a fun story of Bitcoin's history. Get a glimpse of why Bitcoin's adoption is spreading around the world at record speed. Perfect for kids, adults OR Financial Advisors... It's also a great way to "Orange Pill" friends that keep saying, "I'm just waiting until the next big dip." Buy the book here: https://bitcoinforkiddos.com *** REFERRAL LINKS: Coin Stories is powered by BITCOIN 2023, which will be the BIGGEST BITCOIN EVENT IN HISTORY held in April 2023. If you missed Bitcoin 2022, make sure to head to @Bitcoin Magazine 's page to find videos and highlights of all the biggest events and panels. You can get an early bird pass for Bitcoin 2023 at a steep discount if you head to: https://b.tc/conference/2023 *** Okcoin is on a mission to make crypto investing and trading easily accessible to anyone around the world. We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto. Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. We are a collective of global citizens with a common passion to help decentralize finance and level the economic playing field for everyone around the world. Visit https//www.okcoin.com/natalie for $50 in Bitcoin when you sign up. *** With iTrustCapital, you can actually invest in crypto without worrying about taxes, or fees. iTrustCapital allows their clients to invest in crypto through an individual retirement account, or an IRA. IRAs are tax sheltered accounts, which means all your crypto trading is tax-free and can even grow tax-free over time. The best part is that it's totally free to open an account, and there are no hidden fees.You don't need to pay any monthly subscription or membership fees either. If you open and fund an account, you will get a $100 funding bonus added to your account. To learn more, click the link below and open a free account to learn more. https://itrust.capital/nataliebrunell
Presentado por nuestros patroncitos y patroncitas PYME: Roy Chévere, agente de seguros e inversiones. Activo desde el 2009, Roy se especializa en planificar estrategias de retiro y ahorro. Además de las IRA, roy tiene otros productos: Póliza (cubierta) contra Cancer, la que yo vendo te paga hasta 100K por diagnóstico a diferencia de las demás compañías qué pagan procedimientos y hay que estar sometiendo evidencias. Póliza de seguro de vida: Trabajo toda póliza de vida ya sea a término o con acumulación de activos “cash”. Son excelentes para suplementar plan de retiro, ahorros para estudios (college funding), Key Person, Buy and sell agreements. Y lo mejor es que al momento de retiro son diferidas de impuestos. Rollover de anualidades, 401K, cds o Iras. Movemos el dinero a un producto con mayor rendimiento en el mercado y sin cargos por servicios. Comunicate con tu asesor financiero patroncito al 787-209-8441, 787-209-8441. También lo puedes buscar en instagram como Cheverefinancial ¡Mira qué chévere! — Los jabones Don Gato son hechos a mano, sin químicos dañinos ni detergentes. Elaborados con los mejores aceites naturales, esenciales y aromàticos, seguros para la piel. Pruébalos y siente la diferencia. Visítalos ahora en jaboneradongato.com y con la compra de 4 barras o más te llevas gratis una jabonera de madera, además al utilizar el código "ppp" obtienes un 10% de descuento en tu compra. Sígelos en sus redes face book, instagram y twitter como jaboneradongato para mantenerte informado. — Matrix Patent Agency se dedica a preparar y radicar aplicaciones de Patentes (de Invención diría la RAE), el documento que emite el USPTO y el cual protege sus derechos sobre 'Inventos' en EE. UU. (y extensiones para protección Global). El principal de Matrix se llama Luis Figarella, PE y Agente de Patentes Registrado en el USPTO (Reg. # 58,300). Los agentes hacemos lo mismo que los abogados de patentes en lo que llamamos el “prosecution” (preparar, radicar y si, ‘negociar' con el Examinador del USPTO). Si ha pensado alguna ves proteger su ‘invento', me deja saber y vemos si se puede hacer algo o no. Desde que Matrix comenzó en el 2006, tengo sobre 115 patentes tramitadas y emitidas para mis clientes, 47 de ellas a clientes en PR. 603.557.8420 (C) 603.821.7400 (O) email@example.com — I.E.S Elevator Services es una compañía con más de diecisiete años ofreciendo servicios en Puerto Rico e Islas Vírgenes en todo lo relacionado a instalar, modernizar y mantener los equipos relacionados al transporte vertical. Integramos el arreglo y el mantenimiento de elevadores, reparaciones menores y de emergencia, así como la venta de piezas. Además, nuestros servicios están disponibles las 24 horas, los 365 días del año en todo Puerto Rico incluyendo Vieques, Culebra e Islas Vírgenes. Realizamos la actualización de todos los equipos existentes en el mercado para que cumplan con los más recientes códigos y con todas las regulaciones vigentes. En adición para personas mayores y/o impedidos contamos con alternativas de movilización como silla elevador al igual que todo lo relacionado a elevadores residenciales, para sillas de rueda y carga en general. Antes que otros te fallen llama a los expertos de I.E.S Elevators al 787-908-3462 con Eduardo Castillo para coordinar cualquier consulta y/o cotización. Al decir que los escucharon en Puestos Pal Problema tienen un 10% en los planes de mantenimiento preventivo. -- En este episodio: federales investigan a Miguel Romero según TeleOnce, PPD sigue en cuchilleo mode, primer día de vistas antiaborto, Elon Musk compra Twitter y un chisme de la Universidad Interamericana. ¡Los y las suscriptoras de nuestro Patreon escucharon este podcast anoche! Suscríbete en patreon.com/puestospalproblema y disfruta de una gran comunidad y beneficios exclusivos. Con Jonathan Lebrón (@SrLebron) y Luis S. Herrero (@lherrero). Sigue a PPP en Twitter, Facebook e Instagram. ¿Te gusta el podcast? ¡Déjanos 5 estrellas! Nuestro logo y camisetas fueron diseñadas por Gabriel René. Síguelo en @gabrielrodz | https://gabrielrene.com Nuestra música fue compuesta por CPR EFFE. Descarga su disco "Treinta y Ocho". ¡Riega la voz! Dile a tus amigos que se pongan al día escuchando PPP. Suscríbete a nuestro Patreon y recibe contenido exclusivo, artículos: https://patreon.com/puestospalproblema See omnystudio.com/listener for privacy information.
Scott and James discuss how to find a financial professional that's right for you. Listener Question My husband and I are both high earners. He owns his own business and I am employed full time in the health tech sector. We are in a great position where we are debt free, own our home and a rental property and have close to a million in investments. We manage our finances and taxes on our own today but are getting to the point where we'd like some advice around how to make the most of our assets, particularly from a tax perspective, as we continue to earn. We're 35 and 40 years old and have one child. We've been burned by tax accountants in the past who charge a ton but provide very little that we didn't already know. We find there are lots of resources for those starting out and many for those in the 5+ million range, but very little out there for where we are. Do you have any advice on how to find a professional who would be able to help us for a reasonable fee? I'd love to find someone we can create a relationship with who will grow with us. Thanks! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:54 - Retirement Goals 9:05 - Do You Need An Accountant? 11:46 - Importance of Your Situation 15:07 - Quality of Life 18:33 - Who's the Best Fit? 20:35 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don't miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here
On today's episode, Jasmine and Natosha interview Reneika Lightbourne of Advanta IRA. As a business development professional and an active self-directed investor, she helps clients with tax-sheltered strategies to achieve creative control with investment opportunities for a better retirement. She's committed to educating you on how to invest in alternative assets by self-directing your accounts. Natosha and Jasmine show you not only how you can take advantage of investing in notes with your IRA but how you can work with joint venture partners that have IRAs. This is one you will not want to miss!
Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. We have a returning guest for today who is an absolute beast in the multifamily world, Veena Jetti. In this episode, we talk about how she creates safe deals, finds good property managers, and has an exit plan that mitigates her risk. By the end of this conversation, you'll gain insight into how to identify, understand, and manage risk and why it is crucial to have a solid exit plan from the very beginning. Join us! Learn more about Veena and her journey at shineinsurance.com/managing-commercial-real-estate-risk! “I can make more seemingly aggressive decisions for our portfolio because I know enough about this field.” 03:59 At the beginning of the conversation, Veena explains what the word risk means to her. According to her, without risk, you can't have reward. However, she considers herself risk-averse and underwrites conservatively for her investors. Veena is an expert in commercial real estate investing so she can make more aggressive decisions because she thoroughly understands the risks involved. She also has a diverse personal portfolio with IRAs, mutual funds, precious metals, and occasionally tech start-up investments. Veena's advice to mitigate the risk in your investing journey is to surround yourself with experts in each field and create a strong team. “Doing an $80M deal wasn't really fundamentally that different from doing a $20M deal. It actually was a little bit easier, because we had all our scale in one place.” 11:39 Veena is involved in bigger deals with 400-600 door properties. Her first bigger deal was an $80M deal at the beginning of the pandemic. She shares how she mitigated the risks to succeed in this significant deal. Her team walked every unit of the property even during COVID. They underwrote the property way more conservatively than usual. They increased their reserves to be able to allocate more capital for possible vacancies. “Anything can happen the longer you hold an investment. It's always better to get dollars back in your pocket sooner rather than later.” 19:21 Veena explains how a lot of value-adds or forced appreciation comes after the exit. That is why they don't just look at the cash flow when deciding on exiting a deal. They evaluate the market risk and exit sooner than later if possible. When planning an exit, Veena looks at all possible outcomes and compares them to each other. The most important is which opportunity is the best for their LP investors. At the moment, Veena is interested in new dev multifamily, self-storage, and warehouses mostly in Texas, Florida, Georgia, North Carolina, South Carolina, and Arizona. About Our Guest, Veena Jetti Veena Jetti (VEE-nuh JEH-tee) is the founding partner of Vive (rhymes with "five") Funds, a unique commercial real estate firm that specializes in curating conservative opportunities for investors. Veena brings a dynamic perspective to targeting, acquiring, managing, and operating assets using best practices combined with cutting-edge technologies. Her professional expertise includes driving corporate strategy and business development opportunities. After graduating from the University of Illinois at Chicago with a degree in Finance at 20 years old, she pursued her passion for real estate. Veena has over a decade of real estate experience and over $1B+ in real estate assets over her career in both the startup world as well as the corporate world. Because of her diverse background, she is often a panelist and speaker for various podcasts, global conferences, and radio shows. Mentioned in the show: https://vivefunds.com/ firstname.lastname@example.org Her LinkedIn Shineinsurance.com www.shineinsurance.com/managing-commercial-real-estate-risk Jeremy's LinkedIn Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we'll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ Special thanks to Veena Jetti for taking the time to share so many great insights with us If you enjoyed this podcast, there's a couple of things we need you to do right now: SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts While you there, please RATE & REVIEW the show SHARE with friends Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the CRE Insurance Guy? More great stories & information at: Youtube – Blog – Podcast If you enjoyed this episode, then you'll love these ones: How To Work A 400 Unit Deal, With Veena Jetti 103: Should I Wait To Buy Apartments? With Jason Yarusi Why A Powerful Vision Matters, With Jasmine Ortiz
Summary: The investment landscape has changed and inflation has greatly influenced this. Additionally, many people are wondering about next steps regarding their retirement accounts, 401ks, and IRAs, and John Paul Ruiz comes on the show to talk about some of the benefits of self-directed IRAs. One of the most enticing features of self-directed IRAs is the fact that investors have the opportunity to invest in whatever they want within their IRA, and even certain precious metals are permitted to be held under it. Tune in for more information. Highlights: -Everything is uncertain these days; the investment landscape has changed and inflation has become a huge factor -A lot of people have large retirement accounts, 401ks, and IRAs and are confused about next steps -Alternative investments are becoming more popular, and people are wondering what else to invest in when it comes to retirement plans -People have used their IRA to buy income producing property -“Self-Directed” is just a marketing term. What makes it different is that self-directed administrators do not aim to sell particular investments, but allow investors to invest in whatever they want within their IRA -IRAs are beneficial because your investments can grow tax deferred, and sometimes tax free -Certain types of precious metals have also been permitted to be held under IRA Useful Links: Financial Survival Network The Entrust Group
Welcome to Portfolio Rescue, the show where we answer your questions about investing and personal finance. On this episode, Ben and Duncan are joined by Ritholtz Wealth COO and data expert, Nick Maggiulli to discuss the yield curve, the right amount of risk for IRAs, averaging down on losing stocks, and much more! Submit your questions to email@example.com!Pick up a copy of Nick's new book, Just Keep Buying.Sign up for The Compound newsletter: https://email.thecompoundnews.com/subscribeCheck out The Compound shop: https://www.idontshop.comLearn more about Ritholtz Wealth's automated investing platform, Liftoff: http://liftoffinvest.comInvesting involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Ben Carlson, Ben Coulthard, and Duncan Hill are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. See acast.com/privacy for privacy and opt-out information.
Justin Rezvani is a first generation American entrepreneur, explorer, and 2017 Forbes' 30 Under 30. He began his professional career at the Walt Disney Company. In 2013, at 25 years of age, he founded theAmplify a platform that creates large-scale native advertising campaigns for brands on platforms like Instagram, Facebook, Snapchat, and YouTube. Creating one of the worlds first influencer platforms, with no outside investment or funding, Rezvani bootstrapped theAmplify and the company was cash flow positive within six weeks. The impressive executive team that Rezvani assembled allowed the company to successfully expand to become a profitable 8 figure business in 2 years with clientele across all business verticals. Rezvani was an internal marketing advisor to Ford, Lions Gate, Pepsi, Unilever, COTY and Campbell's during his time as CEO. Crafting some of the most iconic influencer campaigns in the world. In April 2016, theAmplify was acquired by The Brandtech Group. In early 2018, Rezvani left his role at theAmplify and in 2020 began developed on Zion. Zion is the social network built on bitcoin. Founded in 2020, Zion is the next generation of social media that facilitates the free and open flow of content and payments between creative people and their audiences. Free of censorship, Zion is a network for creative people to pursue what they love, and share their passion with the world. Zion makes a better world with trusted social media Rezvani has been a notable keynote speaker at global marketing events such as Cannes Lions festival, The Bitcoin Conference, CES, The CMO Club, StreamCon, Playlist Live, the AAF and has been featured in articles in the Wall Street Journal, INC, AdWeek, AdAge, Business Insider, LA Times and The Los Angeles Business Journal. Rezvani received his Bachelor of Science in Business Administration, Marketing Management and Advertising from California State Polytechnic University, Pomona where he was named student of the year in both 2010 and 2011. His new book, Unapologetic Freedom, is available at https://www.unapologeticfreedombook.com/. REFERRAL LINKS: Coin Stories is powered by BITCOIN 2023, which will be the BIGGEST BITCOIN EVENT IN HISTORY held in April 2023. If you missed Bitcoin 2022, make sure to head to @Bitcoin Magazine 's page to find videos and highlights of all the biggest events and panels. You can get an early bird pass for Bitcoin 2023 at a steep discount if you head to: https://b.tc/conference/2023 *** Okcoin is on a mission to make crypto investing and trading easily accessible to anyone around the world. We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto. Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. We are a collective of global citizens with a common passion to help decentralize finance and level the economic playing field for everyone around the world. Visit https//www.okcoin.com/natalie for $50 in Bitcoin when you sign up. *** With iTrustCapital, you can actually invest in crypto without worrying about taxes, or fees. iTrustCapital allows their clients to invest in crypto through an individual retirement account, or an IRA. IRAs are tax sheltered accounts, which means all your crypto trading is tax-free and can even grow tax-free over time. The best part is that it's totally free to open an account, and there are no hidden fees.You don't need to pay any monthly subscription or membership fees either. If you open and fund an account, you will get a $100 funding bonus added to your account. To learn more, click the link below and open a free account to learn more. https://itrust.capital/nataliebrunell