Do you store your wealth in IRAs? Did you know that you can use that money to invest in real estate? Want to learn all about private money in the self-directed space? If you need cash, you need to go where the money is available to create long-term wealth.

Today, my guest is Edwin Kelly, founder and CEO of Specialized IRA Services and Specialized Trust Company, which provide self-directed retirement accounts. Edwin describes how to create a fortune and build a real estate empire using your or someone else’s IRA.

Topics on Today’s Episode:

• In 2017, $24.7 trillion was inside retirement accounts, and in 2018, it was $25.3 trillion; number increases because of new flow of funds into retirement plans
• Self-Directed: You have a retirement account that allows you to invest in anything that the government allows you to invest in
• $500 billion in retirement accounts is self-directed; small amount because most people are not aware of what they can do with their money - options are available
• 172 million Americans have retirement accounts, but only 1% has money set aside that they can actually invest; self-directing changes it from 1% to 70%
• $1 trillion is expected to come into self-directed accounts in the next decade; people will be looking for investment opportunities that appeal to them
• Stock market does not generate predictable and consistent income, but real estate is an alternative and the Holy Grail to make such income
• People look for alternatives; view stock market as not viable standalone option
• 5 in 100 Americans were financially secure by age 65; 95% failed to create financial wealth or security
• Investment uncertainty, fees, volatility, and taxes affect wealth creation
• Record lows follow record highs in the stock market; people become emotional and don’t understand the market or make rational decisions - buy high, sell low
• Create Wealth: Eliminate taxes, fees, commissions, and uncertainty
• Is using IRA funds for real estate investments illegal or not? IRS sets restrictions
• Incorporate private money as part of investment portfolio and capital structure
• 3 Steps to Success: Open an account, deposit money in the account, and direct money into an investment

Links and Resources Mentioned:

• Specialized IRA Services
• A Foolish Take: What goes down must come up for the market
• IRS IRA FAQs
• Merrill Lynch
• Edward Jones
• Chase

 

Quotes:

“If you’re looking to raise money, you’ve got to go where the money is.” Edwin Kelly

“Self-directed is where you have a retirement account (that) allows you to invest in anything that the government allows you to invest in.” Edwin Kelly

“Most Americans don’t have a lot of discretionary income or money sitting around.” Edwin Kelly

“People just don’t trust the stock market because they don’t understand it.” Corey Peterson

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Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.