Hey everybody, welcome back to the show. I’m here with my buddy, Edwin Kelly from Specialized Trust Company. I use his trust company for all my retirement investing and they work with a lot of real estate investors. Today, we are going to talk about what’s going on with all these Covid-19 changes and what’s changing with retirement accounts. Also, we’ll talk about how based on where the market is, what you should be doing differently right now to plant the seeds for your retirement.

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    [00:00:00] Mike: [00:00:00] Hey everybody, welcome back to the show today. I’m here with my buddy, my buddy, not my buddy, my buddy Edwin Kelly from a specialized trust company. We were friends for a long time. In fact, I use as his trust company for all my retirement investing. And they work with a lot of real estate investors and folks that are interested in that.

    And we’re going to talk about kind of what’s going on with all these COBA changes, what’s going on, what’s changing with retirement accounts, and, uh, based on where the market is, like what you should be doing differently right now to plant the seeds for your retirement.

    Professional real estate investors know that it’s not really about the real estate. That real estate is just a vehicle of freedom. A group of over a hundred of a nation’s leading real estate investors from across the country meet several times a year at the investor fuel real estate mastermind. To share ideas on how to strengthen each other’s businesses, but also to come together as friends and build more fulfilling [00:01:00] lives.

    For all of those around us. On today’s show, we’re going to continue our conversation of fueling our businesses and our lives. I’m glad you’re here.

    Hey Edwin, welcome to the show,

    Edwin: [00:01:19] Mike. It’s great to be back, man. Yeah,

    Mike: [00:01:21] yeah, yeah. You’re a, you know what’s funny? This is like totally out of, out of left field or right field or somewhere. Um, I saw this, uh, have you ever seen this thing? It was like, uh, gosh, what? Oh my God, I’m going to screw this up. Uh, anyway, they got the actors.

    There’s a, there’s a couple of actors that are like vine for, who’s been on Saturday night live the most.

    Edwin: [00:01:45] I haven’t seen

    Mike: [00:01:45] people that have been on like 20 times. I haven’t even watch that and I don’t have anymore. But anyway, you’ve, you’ve been on our shows I probably three or four different times over the year, so we always get to see, of course, always get to see outside of shows too.

    Um, so we’re time right.

    Edwin: [00:01:58] Yeah, yeah, yeah. It’s, it’s, [00:02:00] it’s, uh, it is something else. Yeah. I’ll say that. You know, I, like I said, I kind of, uh, I came to the conclusion the second Saturday in February that this was going to hit the U S and so we went into massive action and started changing a lot of things. So by the time the quarantine was announced and people realized we had a problem here in the U S we were already ahead of this.

    I mean, as, as ahead of this as something like this that you can be right, you can never really had something like this. Who knows what that’s going to look like. But, but yeah, I mean, it’s been a really interesting time. And in fact, when, when, uh, when, that was all, when we were getting prepped for that in March and we were doing a lot of work is it seemed like it was changing by the hour.

    Yeah. Things seem to be changing by the week, so that’s a good news, right? I mean, it’s, it’s, yeah. I think,

    Mike: [00:02:45] I think, you know, there’s going to be, who knows what this thing’s going to look like on the, on the back end, you know? But I think a couple of things. One for real estate investors. It’s going to be a good thing.

    Every kind of recessionary period or downmarket is good for investors, and I say investors [00:03:00] that are prepared, right? Because the bigger things are. The competition that doesn’t really know what they’re doing goes away. That’s one of the bigger things. And the more professional investor tends to have put some effort into having other sources to raise money from other than national hard money lenders that are also on the sidelines as of the time we’re recording this for sure.

    Right. And so having access to capital and having access to more deal flow, because some of the competition has gone away. And I know that’s one of the things that we’re gonna talk about today is obviously using. Self directed IRAs, not just like people’s individual IRAs to invest. It’s, you know, obviously, um, helping people put money, transfer money into self directed IRA so they could become lenders effectively.

    Right. Yeah. Yeah, yeah. Awesome. Well, um. So before we kind of jump into what’s going on with some of the changes, some of the regulations, like some of the regulations that nobody knows what it means yet. There’s all kinds of stuff that’s a moving target here right now. Why don’t you tell us your, your [00:04:00] background a little bit, kind of how you got, uh, how you got to where you are.


    Edwin: [00:04:03] Well, uh, as you said, right. My name is Edwin Kelly. I’m CEO and co founder of specialized trust company. We are a self directed retirement account custodian, so we allow companies to open up self directed IRAs. We’re also traditionals health savings accounts. Solo 401k is right. It runs the gamut and reel out clients to take those accounts and take the retirement account money.

    And invest in all kinds of things like real estate, right, and notes and all these things that that is part of this community. That’s what we’ve been doing. I’ve been doing it for over 23 plus years. I say 23 plus because what I realized is that every year I update that number. I did age myself, so it was 23 plus.

    I’ll be, I’ll be 90 years old and I will have 23 plus years experience in this business. And so, um, so been doing this for a long time. Um, I, you know, I think one of, one of the things that I’ll say that, that, uh, has been, uh, an arrow in our [00:05:00] quiver, so to speak, is the fact that a long time ago when I got started in this industry, I started working with folks on a one on one basis to figure out what their challenges were self-directing and as a result of that.

    Was able to work through a lot of different challenges, issues, and struggles that people have to actually create plans so they can actually use. These tools and resources, and so that’s an area of expertise that we’ve developed over a long period of time. It’s really woven into everything that we do with special offers

    Mike: [00:05:29] for

    I’ll be honest, I mean, you and I have been friends for a long time, but that’s why, that’s why we work with you guys there. You obviously have competitors out there, but you guys take time to answer questions and hold. Hold people’s hands because this is, some of the stuff is a little complicated. I mean, it can get complicated, right?

    And I tend to overcomplicate things, so it’s nice to have somebody to talk to. In fact, just a little bit of a shameless plug here for you guys that are listening, I want you to stay to the end. I don’t ever like plug stuff like this, but, um, Edwin has a class, uh, that he’s [00:06:00] offering. Um. If, if you’re not a client, they sell it for like 600 bucks, you guys are going to get it for free.

    We’re gonna actually give you an email address to email, um, somebody on his team directly. So make sure you stay till the end, cause we’ll, we’ll mention that. So super it, this stuff can get a little complicated. It’s not that it’s complicated, is that our lives are complicated and we try to apply our lives into it and say, well, I have, you know, here’s my age and I’ve got these many kids.

    And you know, it gets a little complicated sometimes. So. Yeah. Yeah. Cool. And on one thing, one other thing I want to say too is, and everybody that’s listening right now, look, if you haven’t taken advantage of this time that we’ve been in our caves or whatever, to try to figure out how to make your life better in a lot of ways, right?

    Like health wise and business wise and all those things, then you’re probably missing out. I’m sure most people that are listening this have actually done that. One of the things that I think what we’re going to talk about here today. I can help you with is, is cementing your retirement right and cementing kind of longterm wealth stuff.

    It’s not so much about today money. [00:07:00] I mean, some of it can be, but it’s about really taking the time. We all work so hard as real estate investors. I kind of use this phrase like, you should be spending a lot of time, or at least some time, probably more time than you’re spending now. On figuring out how to keep more of what you make because, um, it’s real easy to get taxed out of wealth if you’re not careful in this business.

    We’re always so busy moving onto the next deal and trying to ring the register without a whole lot of attention to how do I keep more of what I make? And I think that’s a really important part of this business. So I’m sure you’d agree with that and everyone, right?

    Edwin: [00:07:31] Yeah. Well, you know, and people think about retirement accounts and I’m coming up with a new name for them.

    Mike: [00:07:36] Uh, because it’s not just retirement accounts, health savings accounts. There’s all sorts of stuff that you could benefit from today. Yeah.

    Edwin: [00:07:41] Well, and, and the thing is, is that here’s the reality that when most, like most people hear the word retirement, they think, okay, I’m going to have a gold watch on my wrist.

    I’m going to sit on the couch. I’m going to watch TV through the docks. Right? I mean, that’s what people contemplate when they think about retirement, the reality. But yeah, you’re right. Well, not most, not guys like you and [00:08:00] I, because we actually understand how these accounts work and what we get accomplished.

    But when most people hear retirement count, they think, you know, this is kind of boring stuff. I don’t know that whole tire it. No. So the reality is what, what self retired accounts allow us to do is actually build wealth. Exponentially faster and easier than without them, right? That’s really what it’s about.

    And so, uh, at any age, at any stage of life, it becomes something to incorporate into what you’re doing. It’s not the only thing you’re going to do. You’re still gonna have a business. You’re still going to do things outside, right? I do. I own businesses and I do investing outside my retirement account because I have a need for current income.

    Right? But also know. What my tax bill looks like for last year. And I paid a lot of taxes last year and I just found out, right? Cause we’re getting our Caitlin’s, I just found out, wow, do I owe a lot more money? You know? It’s like where did this come from? You know? And there is a way out of that trap, but, but it takes some time and [00:09:00] planning and some strategies and these accounts.

    That’s why I use them actually helps you do that. Yup.

    Mike: [00:09:05] Yup. Yup. Awesome. So let’s maybe talk about, um, cause I think a lot of folks that are watching this probably, uh, have seen, um, you know, are familiar with self directed councils, kind of make, make that assumption that they kind of understand them whether they have them yet or not.

    I mean, you know, in our, when you’re kind of around our audience, like. Investor fuel members or coaching students or whatever. It’s, it’s pretty common that everybody raises their hand and says, yes, I’m familiar with what that is. How many of you actually have them? And it’s a lower number, right? There’s people that just haven’t jumped in yet.

    And I was in that game for a long time. I kind of knew that I needed to be, but just was so busy with everything else. So let’s kind of assume everybody kind of knows what that is, but let’s talk about maybe some of the changes that have happened with COBIT, and there’s, there’s, you know, probably some things that.

    Have changed, but people aren’t real clear what they even mean yet. But what are some of the bigger things that have been kind of impacted by all this stimulus and, and the care act and COBIT and all that stuff?

    Edwin: [00:09:59] Yeah, so there’s, [00:10:00] there’s three things that, the stimulus plan that they. Rote and approved did as it impacts retirement accounts.

    Okay. So there’s three things. There’s two things that I like and one thing that I don’t really like. Alright, so what’s the first thing that they did? The first thing they did was they said for the year 2020 and by the way, this is all for the year 2020 right? So. They could extend some of these things.

    But right now, this is just for 2020 so when I share this stuff, understand you have a limited window of time that the government has given you to, to do some of the things that I’m sharing with you. All right. So the, the, the first thing is, is that they waived all our MDs on retirement accounts this year, or are the, if you don’t know what that is, a requirement of the distribution.

    So for folks who. Um, are at an age or in a situation where they have to take it a distribution whether they want to or not. Right. Government says you’re required to do that. Uh, this year, those have been suspended. So that’s good news for folks who [00:11:00] don’t want to take them. Now here’s the flip side of that coin though.

    Like is what I tell people, why did the government do that? Because they inherently know that there’s a problem with the financial markets. Okay. The way that most people were investing a retirement account is in like mutual funds and stocks. Things happen in the market, right? We all know that most people do it because the market is so volatile because it’s gone all over the place.

    The problem is is that if you’re forced to start to take money out.

    Mike: [00:11:26] As a negative impact. Yeah.

    Edwin: [00:11:28] Right. It compounds negatively against you. Right. But here’s the point. Don’t miss the point. The reason why I share that, because I’m sure most people listening right now are watching are not. In an RMD situation.

    But what that should say to you is, is that if you’ve got all your money in the market, understand the government’s acknowledging there’s an inherent problem with how that works. Therefore, they don’t want to compound the problem, so they’re not going to require people to take money out. So that should be just a flag to be aware of.

    [00:12:00] Right. So that was one of the changes they made. Second changes that they made, and they fall into two categories. One is on IRAs and one’s on 401k’s. So if I start with the IRAs, so what they did was they said, okay, if you have a covert related issue, so if, by the way you self-certify that you have a coated related issue, you either got the virus,

    Mike: [00:12:23] the government’s been doing that for people anyway, so

    Edwin: [00:12:28] we

    Mike: [00:12:28] won’t make this political.

    But yeah.

    Edwin: [00:12:30] Or you were impacted financially somehow, some way, which I don’t know who has not been impacted

    Mike: [00:12:35] financially. If you’re a business owner.

    Edwin: [00:12:37] Right? Yeah, exactly. So the reality is, is that you self-certified that when you do these things, I’m about to share with you itself. It’s a self-certification.

    You’re saying, I’m doing this because of Kobe, therefore I’m allowed to do this. Right? So that’s how this process works. So the first thing that they did, now, this is the thing that I don’t like. So this, this goes into the category of things I don’t like, but what they did was they, they [00:13:00] did a few things they.

    They, what they did was they, um, they said you’re allowed to take a distribution up to $100,000. Okay. And they will waive the 10% penalty. So you can take a distribution up to a hundred K the way, the 10% penalty if you’re under 59 and a half. So that was the first change I made with regards to IRA distributions.

    Second change they made was they said, we’ll allow you to spread that tax liability. Over three years so you can spread out the taxes. Okay. But the third thing that they said is that we’ll also give you three years to put the money back in to the account. So normally if you took money out of an IRA, you have 60 days to put it back in.

    If it does go into 60 days, it’s a distribution. It never goes back in, right? So why do I not like that? The reason why I don’t like that is, and keep in mind, we look at these [00:14:00] things that. Oftentimes the government does and we want to believe that they’re doing things for our benefit right now. Let’s just assume that’s what was part of the motivation.

    I’m going to give them that, but who does this help? For sure. If you do that. One person, one party that definitely wins in this scenario is the government, because they just passed this whole stimulus plan that they’re spending trillions of dollars off. We don’t even know how much yet, right? Because he keep asking for more money and now they’ve got to come up with a way to pay for it.

    So now all of a sudden you say, Hey, we’ll waive the 10% penalty. Go ahead and take money out of your IRA. They just created a whole new revenue stream that they did not anticipate in any of their models prior to this. So understand there is an inherent benefit from the government and he take a distribution.

    Yep. So, but here’s why I don’t like it. The reason why I don’t like it is because the last thing you want to do is create a longterm problem. By trying to solve a short term problem so that the reality [00:15:00] is

    Mike: [00:15:00] government is very good at doing, by the way, I kind of rubbish in the future for today, right? So,

    Edwin: [00:15:04] I mean, that’s exactly what they do, right?

    They kick the can down the road. The problem is you and I can’t kick our lives down the road, right? We actually have to deal with reality. So here’s what you take somebody who’s in their fifties and let’s be honest, probably most people who would do this or have the money accumulated, they’re gonna be in their forties or fifties at this stage of the game.

    If they take a distribution. Because out of the financial necessity, chances are, even though you’re probably telling yourself in your mind, well, I have three years to put the money back in, I can tell you from doing this my whole life, people don’t put the money back in

    Mike: [00:15:33] some way to blow it. Yeah.

    Edwin: [00:15:35] Because if you’re taking that for a financial hardship, think about it.

    How are you going to generate an additional hundred K to put it back into the account in the next few years? So I’m not saying it wouldn’t happen. I’m saying 99% of the time. It never happens. That’s the reality of it.

    Mike: [00:15:53] Life gets in the way.

    Edwin: [00:15:55] Yeah. Life gets in the way. Like there’s always things that we can spend money on.

    I mean, that’s just how it is. [00:16:00] So the problem is, is that instead of depleting your nest egg, I’ll say there’s three things you need to do in a market like this. The first thing you need to do is preserve. Your nest egg. Okay. Because the reality is most people are not correctly set up to step out of a w two job, or if they’re actively involved in business.

    Like you and I were just talking about, like I’m actively involved in my business. You’re actively involved in your business, but we want to kind of get out of that. So we’ve got to have either businesses that are passive in nature, which that’s a trick. Or you know what I’m talking about. Or we have to have investments that provide an income that is passive in nature, and that.

    Right? It is what is going to allow us to step out of those situations. So the reality is the way you get there is to preserve first your nest egg and to grow it. You can’t grow it if you’re not preserving it. Well, number one is to preserve your nest egg. A distribution does not help you preserve your nest egg.

    That’s right. That’s what I don’t like the distribution. Now, here’s [00:17:00] what I will say. If you’re one of those people where you just have no alternative, like. You know, life is really going to go off the rails unless you take money out of the time account. Is this helpful to you? It’s absolutely helpful to you.

    Okay. But what I’m saying is, is that I would view that as an absolute last resort. I wouldn’t now they did something, Mike, which directly works for your audience. And in most cases that I do like. So let’s talk about the third thing they did. The third and final thing that they did with this bill. The third thing they did that I really liked.

    Is that they changed the provisions for four Oh one K loans now that I do like, so what did they do with 401k loan? So if, if you have a solo 401k or even a 401k at work, if you got a w right, that this applies to offer one K plans. But what I’m thinking about is. In terms of, uh, if you’re in the real estate investment business then, and, and [00:18:00] you have money in an IRA or a retirement account someplace else, you could set up a solo 401k for your business, right?

    And you could move money. You got, you got to qualify. There’s a qualifications, but I’m just gonna we’re going to go with the assumption that you qualify right now. You can move money to that account. So how do 401k loans typically work? Cause they’ve always been around. The way it typically works is that you could borrow up to $50,000 or 50% of your account value, whichever is less.

    So, in other words, if you have a hundred thousand and your. 401k account, you could borrow 50,000 yep. Fully amortized loan over five years. The payment starts with a month after you take the loan, right? If you don’t make the loan payments, you default on the loan, it becomes a deemed distribution. You don’t want to do that.

    Alright, so what was the change now that they may do this? Through this? Through the care act. So here, here’s what they changed. They said the first thing is we’re going to waive the 50% rule. So. [00:19:00] There is no 50% rule in place. The second thing is they’ll allow you to borrow up to $100,000 and the third thing is, is that they will allow you to defer payment until next year.

    So that’s a way better solution because when I’m working with clients right now in this market, and they’re saying, Hey, I want to access money and believe it or not, guess what they’re accessing the money for. It’s not to pay living expenses. Many cases it’s like, Hey, look, I found this deal and I need cash,

    Mike: [00:19:30] right?

    Right, right.

    Edwin: [00:19:31] It’s actually my business, like one of my business to generate some cash, but I need money because the hard money just dried up, right? So I need some more funding because all of a sudden my lending sources that they just went away. So they’re able now to borrow a hundred thousand so let me give you an actual case.

    I just, we just, I had a client that we just did this with. I have a client who is in North Carolina. He had a transaction that he wanted to do. So literally he set up a solo 401k. It was him and his [00:20:00] wife cause her partners in the business together. And what they did was they each were able to take a hundred thousand dollar loan, right?

    Because they had a hundred thousand in their account. So they could use, take a hundred thousand dollar loan to go to

    being married. So that’s $200,000 they just act $200,000 that they just access to go do the transaction. And what they’re finding is, at least in their market. Right? Retail is not having a problem there. They’re selling retail and get it. In fact, when they put the last property they did on the market, they had five showings within 24 hours of putting that thing on the market, right?

    So, I mean, their Mark is working for retail and those people can get financed. Right? So that Mark, so that’s working right now, but what, but they needed to get the cash because they couldn’t do the deal. They already had it under contract in their business. Right. But then the lender,

    Mike: [00:20:56] now you typically can’t do your own deal.

    You can’t fund your [00:21:00] own deal with your retirement account and the pro, I mean, you can if the proceeds all go back into your account. Right? But. In this instance, you can take the money out and then personally invest in the deal, make money on it, and put the money back. Right. So do you have to pay yourself?

    Remind me there, there is a, is there a minimum interest rate you have to pay your account back or has that

    Edwin: [00:21:17] changed? Yeah, so the, the rate is set by the administrator. So this is how the rules work, that the government says the rate has to be set by the administrator. It has to be a market rate of interest.

    So the way we define it, it’s prime plus two. So whatever the prime rate is, which by the way is real low. That’s your interest rate. Here’s the, but, but just as a side note to that, keep in mind it’s always your money, so you’re not paying me the interest rate. You’re paying yourself the interest rate because you borrowed it from your own account.

    And so that’s a key thing to keep in mind. Your, your actual cost of capital is zero on a transaction like that. So they set up the loan, they took out the 200,000. They’re doing the transaction. Uh, they expect to be in and out of that within 90 [00:22:00] days, and so they could put, so they, they’re just gonna defer the payments out right now.

    The wound will accrue interest. But again, they’re paying themselves the interest and it’ll accrue interest, but they’re not making any payments. They’re going to go do the transaction, sell the property, take all the cash, drop it right back yet.

    Mike: [00:22:16] Yeah. Yeah. I think that, and the difference we’re talking about here, for those of you that are listening are making business decisions to grow your wealth.

    Some of it’s going to be inside of your account. Some of it, there might be some short term opportunity to do it outside of your account, kind of quasi in and out. You’re borrowing from your own retirement, but you know, if you can, you don’t want to drip into your. Dip into your retirement and your longterm wealth money, uh, too pay for your living expenses, cause you probably aren’t gonna be able to pay that back.

    I mean, if you, if you can’t afford day to day expenses and what, like, like Edwin said, Hey, you gotta do what you gotta do to survive. Like obviously, depending on your situation, that’s kind of where you’re sitting on Maslow’s hierarchy of needs, right? If you’re in survival mode, like it is what it is, right?

    But if you’re above that, like, don’t, don’t Rob [00:23:00] from your future to do these things, but there’s some interesting opportunities too. Build wealth and make some money just based on some changes in regulations.

    Edwin: [00:23:08] Yeah, yeah, absolutely.

    Mike: [00:23:10] Yep. Yep.

    Edwin: [00:23:11] So, so we’re, and that’s one of the things that we do do, at least when I’m working with, with my clients, one of the things that we do is we go over the payments, say, does this payment fit your budget?

    Because the last thing you want to do is structure a loan. If you can’t make the payment, right, right. You’re borrowing your own money. You need to treat it like it’s any other loan like you need to be. You know? Because truthfully, I tell you, if you’re going to take a loan and you’re not going to pay it back, you’re better.

    And it’s your own 401k account, meaning for your business, you’re better off taking a distribution to do it alone and not paying it back.

    Mike: [00:23:39] Sure, sure.

    Edwin: [00:23:41] But I’m just going to assume for sake of today’s conversation, everybody’s. Doing that. Don’t want to draw it down. The key, I’ll say, I’ll say, there’s three things that I’m seeing that people need to do in a market like this right now.

    Number one is what I said, you got to preserve your nest egg, which is what you said, right? We don’t want to Rob our future, so you’ve got it. [00:24:00] Second thing is generate additional income.

    Mike: [00:24:04] Got money busy. Yeah,

    Edwin: [00:24:05] we’ve got, we’ve got people who have bought, so we have had clients who moved it. So what, what is working in the market like this?

    There’s, I’ll say there’s a couple of things that I’ve seen clients move into and what they’re able to do is. They take their PR, their nest egg, so to speak, you buy into a certain asset that generates the income, you can turn the income on for distributions to get by right now, which is a great solution because you’re preserving your nest egg.

    You’re not paying a 10% penalty on those distributions, and you can spread the taxes over three years, and then if you want to pay the income back, you can always do that, right? But, but I’ve literally seen, and I can give you two specific examples where clients have purchased. Uh, section eight properties because there’s no concern about the tenants paying those checks.

    Right? Cause the form is right. The other one was a medical, uh, commercial property where the, you know, obviously people are still going to the [00:25:00] doctor and they are still paying rent and they have the ability to pay rent. So their cashflow in that type of property. So the point though is the takeaway is, is that you want to preserve your nest egg.

    You can generate additional cash flow and then you can spend the cash flow, but don’t draw down on your desk deck. And so basically those two things, what you’ve got to do is gain access to your retirement money and get control over it to be able to invest in those kinds of things.

    Mike: [00:25:25] Yeah, that’s awesome.

    That’s awesome. And we’ll, what we’ll do is, uh, if you guys, if you’re watching this on FlipNerd or on a, sorry, on an, uh, investor fuel.com you’ll also be able to access it on flipnerd.com but if you’re accessing it on the site, we’ll have some links for you guys. I want to. Make sure you check out some of our previous shows where we’ve talked in the past about basically building yourself a private bank.

    And what that means is finding people that don’t understand what self-directed accounts are. And I think, you know, I don’t know when I talk about this ahead of ahead of the show today, I mean, I think one of the things that happens in a down market like this, [00:26:00] or especially with so much government intervention is people just.

    Feel like they’re losing control and they want to grab control more. They’re like, I need to be in control of my destiny, right? Or my future, my financial future. And people are gonna want to have more control over their investments. Because I mean, some people lost 30% plus of their, of their. You know, longterm investments, um, here in this last kind of market downturn for sure.

    And it’s come back, right? But some people sold at the bottom cause they were afraid of go lower. I mean, there’s always every scenario you can imagine this happened in there. So if you can basically teach people how to, Hey, move your retirement, move your IRA or your 401k into a self directed account, and then you could become a lender.

    And by the way. Guess who wants to borrow from you? I do. Like you can put your money in here. And I do deals. And when I do deals, you win too. Right? And so check out some of those past shows, cause we’re not gonna have time to talk about it today, but just conceptually, and here’s the truth. Uh, we’re having our, the time I’m recording this, we’re about to have our investor fuel meeting with a lot of the top real estate [00:27:00] investors in the country, and we’re talking about three main subjects.

    And one of them is raising money, right? Because this is what happens in a market downturn. First thing, one of the first things that happens is the lending dries up and it’s because of institutional. But people that have really shifts with private lenders, I mean, we’ve, we hear it all the time now. From folks.

    They’re like, well, we’ll have private lenders. And you know, I got a call the other day and they’re like, Hey man, the market tanked. I’m so glad my money is with you. Right? Because they didn’t tank for them. So I think there’s a lot of, uh, opportunity out there. So did I miss anything Edwin.

    Edwin: [00:27:29] No, no, no, no. I mean, right now it’s the biggest opportunity and private IRA money I’ve ever seen said.

    And so just know that, um, I mean there, with all the way off set, unlocked a lot of retirement accounts, and so there’s been over $450 billion unlocked in the last 30 days. So if you’re looking for private money, uh, it really is a perfect storm because the market’s volatile and we’ll have access to the money right now, like never before.

    Mike: [00:27:59] Yeah. [00:28:00] And I think a desire to do something different, to just feel something that feels safer, investing in a real asset. I mean, I think, you know, I’ve talked about this for years. I used to, my wife used to be an investment banker on wall street, and I used to be in investments as well. Like it just feels like the whole thing is engineered, like you don’t really there, there used to be this time where it’s like, well, by companies you believe in like Nike or Starbucks, and it’s like, eh, they’re all just gaming the system now.

    Like, how can we squeeze a couple of pennies out of this to look at this quarter? Yeah, yeah. So it’s scary. But, um, awesome. So we’re talking about this, uh, you know, guys, you really should be educating yourself right now and figuring out, figuring out like how to use these tools. And I’m guilty of it too.

    Edwin and I have been friends for a long time. We talked for years before I started to move money into self directed accounts and finally, finally kind of cracked the code. And it was just because, um, these guys had answered so many questions for me, made me feel comfortable. So Edwin, tell us how folks can, um, find out about, I know you didn’t have this on a website.

    They’re going to have to. Uh, they’re going to have to email, I think you said Danielle directly, so [00:29:00] tell us about what the class is and how people can join for free, like how they’ll get to it.

    Edwin: [00:29:04] Yeah. So, so what is the class? So the class is the accelerated wealth building. Quick start program. So that’s a mouthful.

    I know you said it’s an

    Mike: [00:29:13] acronym. You need an acronym for that one.

    Edwin: [00:29:15] It’s the best descriptor.

    Mike: [00:29:17] QSP

    Edwin: [00:29:20] what we call it in house, right? We call it Quickstart. So, so what is that? It is for. Uh, modules throughout the month that I teach live. So it’s always live because it’s very interactive. And the reason why I always do it live is because things are always evolving and changing, particularly in times like these.

    So, um, that’s why I teach it live. We actually, the purpose of the class and one of the outcomes is, is that people can get set up with their self directed account, create a plan, know how to execute that plan, and get going to self-tracking in that account and making their very first investment in within, you know, 30 to [00:30:00] 60 days.

    Okay. So there’s, there’s a clear outcome to the class. Now. Normally you have to be a client to take it. And normally it’s $597 but what I decided to do because of Mike, like you said, we’ve been working together for a long time, and I were part of the investor field community, and we’re, we’re so happy to be part of it.

    I thought, you know what? I just decided to do this on a whim, but, uh, I thought, you know what, whether you’re a client or not. The information is great because it might help you decide if you want to self direct your account. Sure. Um, so it’s, it’s $597 and you have to be a client. I’m going to wave both of those things so you don’t have to be a client.

    You do number of investor fuel though. This is not, I wanna make it very clear that it’s not available to the general public. I am not waiving the fees

    Mike: [00:30:45] for investor field members. Okay. Okay.

    Edwin: [00:30:47] That’s your fuel members only. If you’re not invested, you know, a part of this community, then, uh, it ain’t free. So

    Mike: [00:30:56] it’s still a great value if folks want to learn.

    So maybe you could give us, so I’ll [00:31:00] tell people internally. Um, how to get ahold of Danielle. They already know Danielle. And then for folks that are on the outside that want to access, uh, to this class, do you have a link

    Edwin: [00:31:08] available? Is it, yeah. So what you would do is just, just, I would set, send everybody to Danielle if they’re interested.

    What I will say is if you, if you have an account, if you open up an account or your client, you can attend the class for free. So you can feel free. We’re giving, I am waiving the fee for clients for the class right now in this environment. And so, right. Every month I started brand new class. We start with the first module and go through module four.

    And so if you are a client or you open an account, you’ll get it for free. If you are a member of investor fuel and you don’t have an account yet, um, uh, you can, you can still gain access to that class and not pay the five 97.

    Mike: [00:31:45] Okay. Okay. So who do I send non investor fuel people to, to, to learn more? Edwin,

    Edwin: [00:31:51] I would say, well, I, you know, it just make it easy.

    Send them all to Danielle. Okay.

    Mike: [00:31:56] For folks, we’ll, we’ll add a link down below. But for folks that are driving down [00:32:00] the highway right now, or. Wherever they’re at, and they’re listening. Uh, can you just read off? Do you know her? Do you know Danielle’s email address off the top of your head?

    Edwin: [00:32:08] It’s D as in Danielle,

    1. E. R. B. I. C. K. At I R a S T c.com the other thing you can do is you can just make it real easy to go to the specialized trust company.com the 800 numbers on the website. You can just call the office and ask for either way, but any of those ways work? Yeah. The reason why I’m at, and this is why literally I’m saying, go talk to Danielle because I told Danielle right before we jumped on here, I said, you know what?

    I’m thinking about doing this. I’ll talk to Mike about it. So everything is set up to where if you come into the class in any way, shape, or form, you’re going to be paid for it. So the only way to bypass the system is just to talk to her directly and tell them, you remember investor feel when you

    Mike: [00:32:53] heard this offer.

    And if you’re not, then just tell her you’re not and she can give you your options there. So awesome. Awesome. [00:33:00] Cool. Well, Edwin, thanks for spending some time with us today.

    Edwin: [00:33:03] Yeah, man, I appreciate you as always, Mike, and I’m looking forward to the day, hopefully very soon, where we can actually get together in the same room again.

    Mike: [00:33:10] I know it’s been, yeah, it’s crazy. It’s like, uh, I miss people. I miss Margarita’s like I miss stuff. Like we all miss stuff.

    Edwin: [00:33:18] I say this, I miss airplanes.

    Mike: [00:33:22] The next time you go on on, you’re probably going to have your own row. So, you know, get ready. Cool. Well, Hey, thanks so much for spending time with us today. I appreciate you, my friend.

    Edwin: [00:33:30] All right, man. Great seeing you guys

    Mike: [00:33:32] and everybody, Hey, thanks for joining us today. Hope you got some good value here.

    Make sure you check out the links we’re going to add down below on investor fuel.com if you haven’t already subscribed to the investor fuel podcast, I’d love it if you do, we, wherever you’re watching or listening now, you can subscribe there. Of course, you can get access to all of our [email protected] so appreciate you guys a bunch.

    See you on the next show.

    Are you an active real estate investor? If so, and you want to latch onto the [00:34:00] power of surrounding yourself with over a

    Edwin: [00:34:02] hundred of the nation’s leading

    Mike: [00:34:04] real estate investors, all committed to building stronger businesses and living richer, fuller lives. You should jump on a call with us to learn more about investor fuel.

    Simply visit investor fuel. Dot com to get started.



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