Truly Passive Income

The salient focus of this discussion revolves around the intricacies of converting various retirement accounts into self-directed IRAs, emphasizing both the advantages and potential challenges inherent in this process. We elucidate the four primary types of IRAs: Roth, Traditional, SEP, and Simple, each characterized by distinct features and contribution limits. The dialogue further distinguishes between traditional custodians, who primarily engage with stocks and bonds, and alternative custodians, exemplified by Preferred Trust, which facilitate investments in alternative assets. Notably, we explore the appeal of SEP IRAs among small business proprietors, particularly due to their substantially higher contribution limits compared to traditional IRAs and 401(k) plans. Additionally, the complexities associated with solo 401(k)s are briefly examined, underlining the necessity for a comprehensive understanding of IRS regulations when navigating this particular retirement vehicle.

Takeaways:

• Converting various retirement accounts into self-directed IRAs allows for active real estate investment.
• The four primary types of IRAs include Roth, Traditional, SEP, and Simple IRAs, each with distinct characteristics.
• SEP IRAs are particularly advantageous for small business owners due to their high contribution limits.
• Traditional custodians typically restrict investments to stocks and mutual funds, unlike alternative custodians.
• The contribution limit for SEP IRAs is significantly higher than that for 401k plans, making them appealing.
• Solo 401ks involve more complex regulations and reporting requirements compared to SEP IRAs, necessitating thorough knowledge of IRS rules.

Whether you're a passive investor, developer, or just curious about opportunities in urban infill and adaptive reuse, this episode is for you. Join Katie Kim, CCIM, a trailblazer in real estate development with over 30 years of experience. Discover how Katie started her first real estate deal at 16 and became an expert in creative financing, transforming neglected properties into community treasures using public-private partnerships, tax incentives, and innovative funding models.

Key takeaways to listen for

• [09:36] Why adaptive reuse is an essential strategy for revitalizing markets
• [11:35] The untapped potential of urban infill and adaptive reuse projects
• [14:46] Real-life examples of transforming historic properties 
• [23:44] An introduction to tax increment financing (TIF) 
• [34:34] How developers can negotiate incentives with municipalities

Resources mentioned in this episode

• [34:41] REAL ESTATE DEVELOPMENT ACADEMY
• [46:56] The Katie Kim | Knowledge Nugget
• [46:58] Introducing Money Math

About Katie Kim, CCIM

Katie Kim is a seasoned real estate developer, investor, and educator with over 30 years of professional experience in the real estate industry. Her journey began at just 16 when she successfully completed her first real estate deal with no personal investment. Since then, Katie has led numerous transformative projects through her companies, The Kim Group and The Kim Group ATX, focusing on urban infill, mixed-use developments, and adaptive reuse projects.

Connect with Katie

• Website: Katie Kim | The Kim Group ATX
• Facebook: Katie Kim
• YouTube: The Katie Kim
• Instagram: @thekatiekim
• LinkedIn: Katie Arnholt Kim, CCIM

YouTube: Truly Passive Income

TikTok: @trulypassiveincome

Instagram: @truly_passive_income

Facebook: Truly Passive

Twitter: @trulypassive

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Meet Melissa Hoyer, CFP®, CPCC™, who specializes in guiding inheritors through the complexities of managing significant wealth. With nearly 20 years of experience, she integrates financial planning with personal coaching, helping clients align their wealth with their values and life goals. Gain insights on how to effectively manage and purposefully align your wealth.

Key takeaways to listen for

• [10:25] Unique challenges faced by inheritors
• [18:48] Importance of simplifying complex wealth structures
• [24:52] A concept of wealth anonymity and why it’s crucial for inheritors
• [34:17] How to prepare for and manage significant wealth transitions
• [43:07] The critical role of family dynamics in wealth preservation

Resources mentioned in this episode

• [18:30] Flow: The Psychology of Optimal Experience by Mihaly Csikszentmihalyi| Paperback
• [42:50] Raising Financially Fit Kids by Joline Godfrey | Paperback
• [28:36] What Would the Rockefellers Do? by Garrett B. Gunderson and Michael G. Isom | Kindle, Hardcover, and Paperback
• [45:21] Way Into Wealth Coaching Program

About Melissa Hoyer, CFP®, CPCC™

Melissa Hoyer, CFP®, CPCC™, is a financial planner and wealth coach at The Wealth Conservancy, specializing in empowering clients to manage their wealth in alignment with their values. She holds a B.A. in French from the University of Iowa and a Certificate of Interior Design from the Harrington Institute of Interior Design in Chicago. Melissa's diverse background includes experience in human resources at Arthur Andersen and a successful coaching practice. She is passionate about helping clients achieve financial harmony and fulfillment. Outside of work, Melissa enjoys hiking, family weekends in the mountains, jewelry making, cooking, and volunteering with Greenhouse Scholars. She is dedicated to exploring ways to live joyfully and harmoniously with others and the natural world. 

Connect with Melissa

• Website: The Wealth Conservancy, Inc.
• LinkedIn: Melissa Hoyer
• Email: [email protected]

YouTube: Truly Passive Income

TikTok: @trulypassiveincome

Instagram: @truly_passive_income

Facebook: Truly Passive

Twitter: @trulypassive

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Join James Alexander, CFP®, as he delves into the secrets of achieving financial independence through innovative investment strategies and understanding the psychology of money. Discover his innovative "bucket strategy" for asset management and the tax-saving benefits of defined benefit plans. Packed with actionable advice, this episode offers invaluable insights for white-collar professionals and entrepreneurs aiming to craft a personalized financial game plan and optimize their financial future.

Key takeaways to listen for

• [01:13] How to play your financial game instead of someone else's
• [06:49] The bucket strategy for managing different goals
• [17:25] Income structured notes: What they are and how they work
• [25:05] Defined benefit plans as tax-saving vehicles for high-income earners
• [33:35] Importance of financial education for long-term success

Resources mentioned in this episode

[26:43] Accelerate your tax-deductible retirement savings with Edge Financial Advisors' Defined Benefit Plan—an IRS pre-approved solution for high-income earners. Learn more at https://www.yourretirementaccelerator.com/.

About James Alexander, CFP®

James Alexander, CFP®, is a financial advisor and partner at Edge Financial Advisors, LLC, in Wheaton, Illinois. Since joining Edge in 2019, he has provided customized investment management and comprehensive financial planning services to families and individuals. With a career in financial services dating back to 2009, James has held various roles at Scottrade and TD Ameritrade, including serving as a branch manager. He holds degrees in Finance and Mathematics from Loyola University Chicago and resides in Naperville, Illinois, with his wife, Rachel, and their son, Theo. 

Connect with James

• Website: Edge Financial Advisors
• Facebook: Ed's Edge | Apple Podcasts
• LinkedIn: James Alexander, CFP® 

YouTube: Truly Passive Income

TikTok: @trulypassiveincome

Instagram: @truly_passive_income

Facebook: Truly Passive

Twitter: @trulypassive

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Discover how Ryan Twomey and Lucas Ravanis went from a pandemic house hack to co-owning over 500 multifamily units and repositioning RV parks. Learn about their unique strategies, like collaborating with a TV network for an RV park show, and how they leverage mentorship and community to scale their impact. Tune in to see how to transform real estate investments into community assets!

Key takeaways to listen for

• [06:52] Ways to overcome landlord challenges 
• [10:53] Benefits of commercial real estate
• [13:54] The importance of defining your “what, why, and how”
• [22:18] Why diversify investing through multifamily and RV parks
• [33:40] How to leverage self-directed retirement accounts for real estate

Resources mentioned in this episode

• [17:52] Who Not How by Dan Sullivan and Benjamin Hardy | Kindle and Paperback
• [38:35] Cabin Wars

About Ryan Twomey and Lucas Ravanis

Ryan Twomey is the Co-Founder and Managing Partner of TR Capital Partners, a real estate investment firm specializing in multifamily properties. He began his career in financial services as a financial advisor and wealth manager before transitioning to an operations analyst role at the parent company of the NYSE. In 2021, Ryan started investing in cash-flowing real estate, initially acquiring and managing residential properties. Recognizing the scalability of commercial real estate, he shifted focus to apartment buildings, achieving financial freedom and the flexibility to design his lifestyle. Through TR Capital Partners, Ryan educates sales leaders and business owners on growing and protecting their wealth by passively investing in apartments, offering an alternative to the volatility of traditional markets.

Lucas Ravanis is the Co-Founder and Managing Partner of TR Capital Partners, a real estate investment firm specializing in multifamily properties. He began his career as a Sales Executive at a Fortune 500 Third Party Logistics company, where he spent over six years building his book of business. Seeking financial independence, Lucas transitioned to commercial real estate in 2023, focusing on apartment buildings. This strategic move allowed him to leave his day job and design a life centered around his priorities. Through TR Capital Partners, Lucas educates sales leaders and business owners on strategies to grow and protect their wealth through passive apartment investments.

Connect with Ryan and Lucas

• Website: TR Capital Partners
• Facebook: Ryan Twomey | Lucas Ravanis
• Instagram: @ryan_twomey1 | @lucas_ravanis
• LinkedIn: Ryan Twomey | Lucas Ravanis 

YouTube: Truly Passive Income

TikTok: @trulypassiveincome

Instagram: @truly_passive_income

Facebook: Truly Passive

Twitter: @trulypassive

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David Little takes us through his fascinating pivot from petroleum engineering to becoming a trailblazer in real estate lending. Specializing in short-term loans for fix-and-flips and commercial gap funding, he breaks down how his business supports borrowers while delivering solid returns to investors. Tune in to explore his innovative strategies and the unique niche he's built in the industry.

Key takeaways to listen for

• [05:31] The fundamentals of hard money lending
• [17:35] How to secure investments effectively
• [21:27] Commercial lending strategies you might want to try
• [25:18] A transparent look into investor returns
• [32:10] Importance of deal flow and market dynamics 

About David Little

David Little is the co-founder and manager of Crown Capital Resources, LLC, a Texas-based private lending firm specializing in real estate investments. He earned both his B.S. (2010) and M.E. (2012) in Petroleum Engineering from Texas A&M University. 

David began investing in hard money loans in 2010 and acquired his first rental property in 2013. In 2016, he co-founded Crown Capital Resources, leveraging his expertise in oil and gas property evaluation to assess and recommend investment opportunities. Under his leadership, the firm has funded over 140 properties, totaling more than $30 million in loans.

Connect with David

• Website: Crown Capital Resources
• Email: [email protected]
• Phone: 817-550-7328

YouTube: Truly Passive Income

TikTok: @trulypassiveincome

Instagram: @truly_passive_income

Facebook: Truly Passive

Twitter: @trulypassive

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Dive deep with Fred Moskowitz, a former tech professional turned note investing guru, as he explores the lucrative world of mortgage notes. Learn about the unique opportunities and challenges of this asset class, and discover how it can generate passive income and diversify your investment portfolio. Don't miss these insights on building financial freedom through note investing.

Key takeaways to listen for

• [01:13] A beginner-friendly overview of mortgage note investing 
• [08:10] Types of notes: Performing vs. Non-Performing 
• [13:21] How interest rates impact note investing
• [24:55] The role of loan servicing companies in note investing  
• [29:10] What is the lifecycle of a mortgage note? 

Resources mentioned in this episode

• [00:37] The Little Green Book Of Note Investing by Fred Moskowitz | Paperback

[39:23] Get Fred Moskowitz's FREE Note Investing Guide! Subscribe to his newsletter at https://www.giftfromfred.com and request your copy today!

About Fred Moskowitz

Fred Moskowitz is a sought-after speaker, advisor, and trainer specializing in entrepreneurship and alternative asset investing. With a 20-year career dedicated to these fields, he has become an authority on building wealth through Self-Directed IRA accounts. Fred is committed to enhancing financial literacy providing actionable education on wealth building, mindset, and success. He regularly shares his expertise at industry conferences and as a guest on investment-related podcasts. 

Fred is also the author of "The Little Green Book of Note Investing," which serves as a guide for individuals interested in the mortgage note investment industry.

Connect with Fred

• Website: Fred Moskowitz 
• LinkedIn: Fred Moskowitz
• Instagram: @thefredmoskowitz
• Facebook: Fred Moskowitz

YouTube: Truly Passive Income

TikTok: @trulypassiveincome

Instagram: @truly_passive_income

Facebook: Truly Passive

Twitter: @trulypassive

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Meet real estate entrepreneur and philanthropist Devin Elder as he shares his journey from flipping single-family homes to managing over 5,000 multifamily units and pioneering innovative land and industrial investment strategies. Explore the power of vertical integration, the art of land investing, and the importance of diversification in navigating market changes. Devin also reveals how he balances business success with meaningful philanthropy through the DJE Foundation, which supports disadvantaged children. Join us for an insightful conversation packed with actionable tips to build wealth, sustain growth, and leave a lasting legacy.

Key takeaways to listen for

• [01:16] Devin's early real estate journey and the "lightbulb moment" with his first single-family flip.
• [03:53] Why diversification beyond multifamily properties ensures stability and growth.
• [07:42] How payroll and market fluctuations led to expanding asset classes in real estate.
• [13:01] The value of vertical integration for risk management and operational control.
• [32:19] Structuring debt and equity opportunities for passive investors across asset classes.
• [44:45] Using philanthropy to create a lasting family legacy and give back to the community.

Resources mentioned in this episode

• [00:39] The DJE Foundation
• [26:36] John Deere
• [38:51] Capital Farm Credit
• [47:54] Aid The Silent

About Devin Elder

Devin Elder is the Founder and CEO of DJE Texas Management Group, a real estate firm managing over 5,000 multifamily units and specializing in diversified investments across multifamily, land, and industrial assets. A dedicated philanthropist, he leads the DJE Foundation, supporting disadvantaged children in Texas and the Philippines. Known for his strategic vision and community focus, Devin is also a helicopter pilot and family man who enjoys creating meaningful experiences on his ranches.

Connect with Devin

• DJE Texas Management Group

YouTube: Truly Passive Income

TikTok: @trulypassiveincome

Instagram: @truly_passive_income

Facebook: Truly Passive

Twitter: @trulypassive

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Facing IRS challenges and feeling overwhelmed? Join us for an enlightening conversation with Carlos Samaniego, EA, a tax resolution expert who transformed his personal tax struggles into a career helping others. Discover actionable advice, debunk common tax myths, and learn strategies to tackle your tax issues effectively.

Key takeaways to listen for

• [10:27] What to expect in IRS collection processes 
• [17:01] 3 steps to resolving tax problems
• [22:38] Tax resolution scams you should be aware of
• [27:37] Common myths about settling tax debt
• [30:32] The impact of home equity on tax resolutions

Resources mentioned in this episode

• [00:32] How To Make The IRS An Offer They Can't Refuse by Juan Carlos Samaniego EA | Kindle and Paperback

About Carlos Samaniego, EA

Juan “Carlos” Samaniego, Founder of Tax Debt Consultants, LLC, is a nationally recognized tax expert who mentors CPAs, EAs, and attorneys while helping clients resolve tax challenges. A member of the National Association of Enrolled Agents and the American Society of Tax Problem Solvers, Carlos received the 2020 Tax Professional of the Year Award and the EXPY award for his contributions to the industry.

Featured on NBC, CBS, ABC, USA Today, and in national media, Carlos has authored How to Make the IRS an Offer They Can’t Refuse and the upcoming FTB Taxpayer Survival Guide. His Tax Debt Consultant Podcast, named a Top 10 Small Business Tax Podcast by Feedspot, shares practical advice globally.

Connect with Carlos

• Website: Carlos Samaniego | Tax Debt Consultants
• Facebook: Tax Debt Consultant
• LinkedIn: Juan Carlos Samaniego, EA CTRC® NTPI Fellow® MSCTA
• Instagram: @jcarlossamaniego
• YouTube: Carlos Samaniego EA

YouTube: Truly Passive Income

TikTok: @trulypassiveincome

Instagram: @truly_passive_income

Facebook: Truly Passive

Twitter: @trulypassive

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Meet financial strategist and author Tom Suvansri, MBA, as he explores his transition from corporate professional to a leader in alternative investment strategies and wealth protection. Dive into the concepts of Infinite Banking, redefine wealth, and understand the significance of financial control. Join us for a conversation rich with strategies for building generational wealth and tips to enhance your financial literacy, perfect for anyone ready to challenge traditional financial planning norms.

Key takeaways to listen for

• [09:34] Infinite banking strategy: What it is and its advantages
• [18:15] The value of properly structured whole life insurance
• [35:00] Why effective financial strategies require self-awareness and discipline
• [39:38] How important it is to build a solid financial foundation
• [43:00] Networking advice for aspiring investors' financial growth

Resources mentioned in this episode

• [06:39] What Would the Rockefellers Do? by Garrett B. Gunderson and Michael G. Isom | Kindle, Hardcover, and Paperback
• [08:50]  Becoming Your Own Banker by R. Nelson Nash | Paperback
• [09:10] Rich Dad Poor Dad by Robert T. Kiyosaki | Paperback and Kindle
• [50:11] Wealth Beyond The Numbers by Tom Suvansri | Kindle and Paperback

About Tom Suvansri, MBA

Tom Suvansri, MBA, is the founder of Perennial Pride, where he serves as a wealth strategist and investment advisor representative. Specializing in advanced insurance strategies and investment analysis, Tom empowers clients to take control of their finances. His expertise extends to real estate investing, including ownership and management of rental properties and participation in private lending arrangements. A Penn State graduate, Tom resides in Stamford, CT, with his wife, Bridget, and their two sons, Aidan and Colin. In his free time, he enjoys reading, exercising, golfing, and spending quality time with his family.

Connect with Tom

• Website: Perennial Pride
• Podcast: Perennial Pride Podcast | Apple Podcasts and Spotify
• LinkedIn: Tom Suvansri
• Instagram: @perennialpride

YouTube: Truly Passive Income

TikTok: @trulypassiveincome

Instagram: @truly_passive_income

Facebook: Truly Passive

Twitter: @trulypassive

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