📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master
🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club
In this episode, we delve into how new investors can unlock their retirement funds through self-directed IRAs and Solo 401ks. Learn about the transformation process, the role of custodians, and the potential to invest in real estate or other alternative investments. Our guest, Ted Damp from Advanta IRA, shares his expertise on unique investment strategies, partnering, commingling funds, and navigating IRS rules. We also discuss prohibited investments, transactions, and the unrelated business income tax (UBIT). Discover how to avoid common pitfalls, diversify your portfolio, and leverage your retirement funds effectively. Visit WealthElevator.com for more resources, including event information and vendor referrals.
00:00 Unlocking Your 401k and IRA Funds
01:05 Introduction to Self-Directed IRAs
01:48 Meet Ted from Advanta IRA
02:27 Understanding Partnering and Co-Mingling Funds
05:41 Basic Rules and Prohibited Transactions
09:21 Real-Life Self-Directed IRA Experiences
13:36 Disqualified Persons and Entities
23:45 Case Study: Partnering on a Real Estate Deal
28:43 IRA Ownership and Expense Sharing
29:25 Rules on Percentage Ownership
30:36 Co-Mingling Funds for Investments
32:59 Non-Recourse Loans Explained
37:51 Partnering and Co-Mingling in Real Estate
44:14 Alternative Investments and Syndications
51:26 Final Thoughts and Contact Information
Hosted on Acast. See acast.com/privacy for more information.
