REI ROCKS! PODCAST
Listen to another great episode with industry leaders in real estate.
The Beauty of Self-directed IRA with Jennifer Falloon
In this 4 part series, Jennifer highlights the beauty of a self-directed IRA. How it allows busy professionals to own real estate without being a landlord
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Part 1
Things you will learn in this episode:
[00:01 – 05:29] Opening Segment
● Let’s bring Jennifer Falloon to the show
● Jennifer talks about the beauty of self-directed IRA
● Self-directed IRA is not for everybody
“If you are going to be self-directed, you have to be self-educated and know what it is you are investing in.”
[05:30 – 10:39] Leverage Smart
● Jennifer talks about how to leverage in a smart way no avoid the recession effects.
● Why multi-family?
● Being self-directed, you could get that opportunity to invest in such things, and you do not even have to do real estate.
● If you are going to be self-directed, you have to be self-educated and know what it is you are investing in.
● Diversification of self-directed investments.
[10:40 – 16:54]The Beauty of Self-directed IRA
● Jennifer talks about being fully responsible and serious about the investors’ money.
● Have a good tax attorney.
● Tax-Free Future company is the only self-directed IRA company in the entire nation that offers a tax attorney in your A-team as part of its services.
● Before you invest in anything, make sure that everything is structured correctly so that you are not paying taxes or just pay minimal taxes.
● Jennifer talks about the charging mechanism of her Tax-Free Future company.
[16:55 – 24:00] The Importance of Self-Educating Yourself
● You have to be self-educated where you are putting your money; otherwise, you are setting yourself for failure.
● Jennifer answers a question about self-directed IRA
● The benefits of Covid-19 situation to self-directed ARI investment.
● The fear of risk in investment
Part 2
Things you will learn in this episode:
[00:01 – 05:34] The Game You Do Not Want to Play in IRA
● The risk to avoid in multifamily IRA
● Jennifer talks about the Certificate of Deposit saving.
“There is no guarantee that you won’t get burnt, so you have to be careful with who you work with, make sure your JB agreement is solid.”
[05:35 – 09:55] Self Direct 4O1K
● Jennifer talks about the difference between self-directed 4O1K and IRA
● The smart way to build up your real estate Empire using retirement accounts.
● The beauty of having a tax attorney on your team.
● Make sure that the people you lend to are the people that you know, like, and trust.
[09:56 – 16:15] Making Your Money Work For You
● You work hard for your money, so your money should be working hard for you.
● Creating a legacy for your next generation
● The importance of preparing your retirement plan early
● If you are in your 40-50 and not going to have the money to retire in 15 years, but that money in a self-directed account and find somebody who will pay you 20% interest because that money will double in 5 years.
● Fear and ignorance hold a lot of people back.
[16:16 – 23:27] Recycle Your Money
● Jennifer gives an example calculation on recycling your money for a retirement plan
● The mechanism for recycling your money
● Jennifer talks about how her company is being transparent to its clients
● The importance of educating your kids on the basics of investing and money management.
● Have your money a little bit of everywhere
Part 3
Things you will learn in this episode:
[00:01 – 12:00] The Importance of Relationships and Building Trust
● Micro amounts effort to get your way into financial freedom.
● Jennifer talks about her goals to share knowledge with others so they could get ahead and win.
● Educate yourself and push yourself to learn more.
● Jennifer talks about educating your kids to be independent and responsible for themselves.
● If you messed up as an investor, make it right, it’s just that easy.
● Life happens, but if you’re honest and transparent, it’s okay; it’s forgivable, just make it right, take responsibility, fix it and move on.
● The importance of relationships and building trust for the future of your business.
● The cost of protection
“Consider what your terms, goals are and what do you want to accomplish before deciding on what you want to do with your money.”
[12:01 – 22:20] Buy and Holds
● Jennifer talks about Buy and holds
● Doing a little bit of everything
● Jennifer shares her experience in the lease market that she did not expect
● Jennifer talks about her goals in 5 years.
● In Buy and Hold, you have to be upfront and make sure your clients understand implicitly that their money is locked up for five years.
● The importance of having emergency funds
Part 4
Things you will learn in this episode:
[00:01 – 05:44] Accreditation Form
● Accredited vs. sophisticated investors ruling
● Do not let your money just sit there; invest it.
● Art and antiques investment.
● Arms-length transaction only for real estate.
● We have our own scenarios, and everybody’s scenarios are different.
“Are you really wealth-building, or are you just thinking you are rich?”
[05:45 – 15:24] Tax Free Future.com
● Let’s talk about your investment goals and what you want through consultation with taxfreefuture.com.
● Jennifer talks about how to sign up and the administration of taxfreefuture.com.
● Taxfreefuture.com is not a great fit for everybody, but you need that mentoring, tax attorney, and education.
● Hanging out and being friends with the gurus is what made us millionaires.
● Two or three weeks processing time.
● Self-directed account from the get-go.
● Jennifer talks about how she can develop relationships with top-tier people in the space.
● Jennifer shares her ups-and down journey in real estate
[15:25 – 22:58] Wealth-building Mindset
● Wealth-building mindset.
● Real estate and antiques appreciate in value
● The difference between things and assets with values.
● Men and women have their own strengths and weaknesses, that’s why we’re supposed to work well together.
● Final words from Jennifer and me.
You can connect with Jennifer on LinkedIn, Instagram, and Facebook.
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