Latest / Massive Agent Podcast / MAP 063: Create More Buyers by Unlocking this Little Known Source of Funding w/ Andrew Martin

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MAP 063: Create More Buyers by Unlocking this Little Known Source of Funding w/ Andrew Martin · Massive Agent Podcast

0:00
SPEAKER_01: On this episode of the Massive Agent Podcast, this is exciting.
0:03
SPEAKER_01: There's a very a very little-known source of funding out there that uh a lot of your past clients have access to or new clients that once they're once they know this exists, they could buy a lot more homes.
0:15
SPEAKER_01: There's a lot of people out there who would buy a ton more properties, specifically investors, if they just knew about this funding source.
0:21
SPEAKER_01: So we're going to teach you about it so you can teach them about it and you can sell more homes.
0:34
SPEAKER_01: I love to buy houses, I like to sell houses.
0:53
SPEAKER_01: What is up, everybody?
0:54
SPEAKER_01: Welcome to episode number 63 of the Massive Agent Podcast.
0:58
SPEAKER_01: Thank you for joining.
0:58
SPEAKER_01: We have an exciting topic today.
1:01
SPEAKER_01: I learned a lot today, and it really piqued my interest.
1:03
SPEAKER_01: We're going to be talking about self-directed IRAs.
1:06
SPEAKER_01: Most agents know about 1031 exchanges, and if you're smart, you've used that knowledge to help more people buy more property, right?
1:15
SPEAKER_01: But self-directed IRAs are something most people don't know about, or they've heard of it, they don't know how to do it.
1:20
SPEAKER_01: Well, we're going to talk about how to do it, how it works, and who can use it, in what circumstances they should use them, because so many people have their retirement accounts just sitting there that could be a source of funding.
1:34
SPEAKER_01: You just have to know how to do it right.
1:35
SPEAKER_01: So, guys, if you're wanting to unlock more buying potential with your current database, this is definitely the show.
1:42
SPEAKER_01: We have Andrew Martin, who is the founder of Atlas Financial Strategies down in Florida, and they work nationwide, so don't worry about that.
1:51
SPEAKER_01: But he is on the show as our expert today to talk about self self-directed IRAs.
1:56
SPEAKER_01: This is a great, great, great show.
1:58
SPEAKER_01: If you are new to the show, my name is Dustin Brohm, your host.
2:01
SPEAKER_01: I am a national speaker, trainer, and coach on all things real estate marketing.
2:06
SPEAKER_01: I am a realtor in Salt Lake City with EXP Realty.
2:09
SPEAKER_01: I'm the co-founder of the Industry Syndicate.
2:11
SPEAKER_01: That's real estate's very first media company.
2:14
SPEAKER_01: We are, of course, a proud founding member of the Industry Syndicate.
2:17
SPEAKER_01: Go check out more podcasts, flash briefings, and video shows that are similar to this one over at industry syndicate.com.
2:25
SPEAKER_01: We're very proud of what we're doing over there and we're just getting started.
2:28
SPEAKER_01: Um I am, of course, the uh also the founder of the Massive Agent Society.
2:34
SPEAKER_01: If you're new to the show, this is our uh this is our our lead generation training and support program.
2:41
SPEAKER_01: All right.
2:41
SPEAKER_01: So I see so many agents and loan officers, they spend so much damn time and money trying to figure out Facebook ads.
2:49
SPEAKER_01: And I know because I was one of those people, it took me took me years to figure it out.
2:53
SPEAKER_01: I spent, you know, tens of thousands of dollars on Facebook ads trying to perfect it.
2:57
SPEAKER_01: And I watched YouTube videos and I read articles and I tested and I tested some more.
3:02
SPEAKER_01: Well, wouldn't it be nice had I just basically like learned from someone else who had already done it rather than figuring it out for myself?
3:10
SPEAKER_01: It would have saved me a crap load of money.
3:12
SPEAKER_01: And guess what?
3:13
SPEAKER_01: I would have had a ton of business coming in much sooner.
3:16
SPEAKER_01: So there's there's the choice.
3:18
SPEAKER_01: You know, do you do it yourself to save a little bit of money?
3:20
SPEAKER_01: But then the the cost there is lost opportunity, like it's gonna take a lot longer and lost deals in the meantime, or do you spend a little bit of money, learn how to do it right now, and we teach you how to we actually give you a database of proven Facebook ads that you can just copy and paste.
3:37
SPEAKER_01: Like, oh, I'll take this one for buyers, I'll take this one for sellers, copy, paste, as long as you follow it to the T, like we tell you, it works.
3:44
SPEAKER_01: I have not seen anyone that this doesn't work for if they follow it literally to the T.
3:48
SPEAKER_01: You just need access to the database, and the Massive Agent Society uh has that.
3:53
SPEAKER_01: So yeah, stop spending so much time and money finding finding an ad that works, spend it responding to your leads.
4:00
SPEAKER_01: All right, go to MassiveAgen Society.com to check that out.
4:03
SPEAKER_01: All right, before we get into the show, I really real quick, I want to thank today's sponsor, Audible.
4:09
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4:19
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4:28
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4:32
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4:45
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4:58
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5:00
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5:01
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5:02
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5:04
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5:08
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5:15
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5:17
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5:24
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5:35
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5:38
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6:10
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6:15
SPEAKER_01: Okay, so today's show, Andrew Martin, founder and president of Atlas Financial Strategies, we sit down with them to talk about self-directed IRAs.
6:23
SPEAKER_01: If you have been in the investment side of the industry at all, you've probably heard of self-directed IRAs, but you probably don't know exactly how they work, exactly how to use them, what rules and regulations surround them.
6:38
SPEAKER_01: Because, I mean, basically if you have a retirement account with money sitting in there, and it could be in a 401k, a Roth IRA, a traditional IRA, SEP IRA, whatever, any retirement account, if your money's in there, you could actually use it by using self-directed IRAs, by learning this strategy, you can use your retirement funds to buy real estate.
7:01
SPEAKER_01: And it's not just, I mean, there's other investments as well.
7:04
SPEAKER_01: It's not just real estate that it's limited to.
7:06
SPEAKER_01: So this is such a powerful thing.
7:08
SPEAKER_01: I've had past clients that, you know, they're like, well, I I want to buy a property, but I don't want to liquidate my retirement account because then I'll, you know, I'll take a tax hit on that.
7:16
SPEAKER_01: Well, had I known back then how a self-directed IRA works, I could have showed them how they can keep that in their retirement account, use it, and then have all the tax benefits that come from it.
7:29
SPEAKER_01: Like you could be buying and holding and renting and flipping property within a Roth IRA, for God's sakes, and have all the tax benefits.
7:37
SPEAKER_01: This is really good stuff.
7:38
SPEAKER_01: So let's talk to Andrew and see how we do this.
7:41
SPEAKER_01: All right, guys, I'm sitting here with Andrew Martin, founder and president of Atlas Financial Strategies.
7:48
SPEAKER_01: This is this is exciting stuff because we've all, as agents and loan officers, we've all heard of um 1031 exchanges, and and we know that they're a great way to help more people buy more property, right?
8:02
SPEAKER_01: Well, this is something Andrew's going to be teaching us uh this whole other source of funding that so many people have just sitting there that they don't know they can use to buy property, and they don't realize how many tax advantages there are.
8:18
SPEAKER_01: So, Andrew, thank you so much for being on the Massive Agent Podcast and coming here to educate us agents today.
8:24
SPEAKER_01: Andrew, welcome.
8:25
SPEAKER_01: Um, how's it going?
8:27
SPEAKER_00: It's great, Dustin.
8:28
SPEAKER_00: I appreciate you having me.
8:29
SPEAKER_00: I'm I'm very excited about it.
8:30
SPEAKER_01: Yeah, yeah, this is good stuff.
8:32
SPEAKER_01: I I love learning new strategies or new to learning about new tools or new just new things that most other agents don't know about that can help more people buy more homes more often.
8:43
SPEAKER_01: And so if if you as an agent know about this stuff, and you don't need to be an expert, you know, look, and as agents, we don't it we do not want to be giving tax advice, we do not want to be giving legal advice, but to know what can be done and then know the right person to point your client to, that's the key.
9:03
SPEAKER_01: So we're gonna get you up to speed.
9:05
SPEAKER_01: Andrew, real quick, uh tell us about yourself.
9:08
SPEAKER_01: Um, you know, what is Atlas Financial Strategies?
9:10
SPEAKER_01: And uh and then let's get into this amazing uh tool that agents can use to help more people buy homes.
9:18
SPEAKER_00: Sure.
9:19
SPEAKER_00: So I'm I'm based out of Pensacola, Florida.
9:21
SPEAKER_00: I'm born and raised in Pensacola.
9:22
SPEAKER_00: Um Atlas Financial Strategies is my firm where I do fee-based financial planning uh for individuals and businesses.
9:28
SPEAKER_00: And so I have a team of about 40 professionals, which includes tax planning, estate planning, business planning attorneys, CPAs, CFPs, which are certified financial planners, uh CFA, which are certified financial analyst, C VA, which is certified valuation analyst, and some supporting staff.
9:46
SPEAKER_01: And I'll certainly remember all of that, I'm sure.
9:48
SPEAKER_00: Right, right.
9:49
SPEAKER_00: I'll there'll be a test afterwards.
9:50
SPEAKER_00: Um but you know, point is that uh, you know, that allows us to do very, very high-level planning and just about any situation we run into, we can handle one way or one way or another.
10:02
SPEAKER_01: Love it, love it.
10:02
SPEAKER_01: And and then how did you do you mostly work with real estate agents or do you work with everybody?
10:08
SPEAKER_01: I mean, how did you get to this point here with being on the Massive Agent podcast to teach us about this strategy?
10:14
SPEAKER_00: Well, so one thing I like giving good information.
10:17
SPEAKER_00: I like being the source.
10:20
SPEAKER_00: I you know, I I like being able to give people information and then go, huh, I didn't know that.
10:25
SPEAKER_00: You know, and I'm the reason that so it's just the adding value thing.
10:28
SPEAKER_00: It's just the um, you know, positioning myself as an expert and then also giving people the tools, hopefully, to go out and um, you know, help themselves and others with that information.
10:40
SPEAKER_00: Um, so I I've found, you know, I have a lot of friends that are uh uh real estate agents, a lot of friends and clients and real estate agents and brokers are uh you know in and around that industry.
10:52
SPEAKER_00: And um, you know, when I bring up to them uh what we're about to talk about today, uh a lot of them, you know, kind of you ever seen a puppy cock its head, you know, when you're talking to it?
11:03
SPEAKER_00: They kind of give you that little like, what?
11:05
SPEAKER_00: Right, you know, they have no idea what I'm talking about.
11:07
SPEAKER_00: And then when I explain it to them, they go, holy crap, I didn't know that that was an option.
11:12
SPEAKER_00: So um, you know, that's really what this is about.
11:15
SPEAKER_00: I think real real estate agents and brokers or people in and around the industry should know how this stuff works.
11:21
SPEAKER_00: Again, not having to be an expert in it, but have enough knowledge to uh to know that it's an option, to at least know the ins and outs a little bit of you know how it works, and to be able to um, you know, be able to relay that to somebody.
11:35
SPEAKER_00: And again, it I think in in the eyes of your clients, it will separate you from the other people in your industry.
11:41
SPEAKER_00: It will you know position you as the expert and the go-to person and you know, the person that has the knowledge that they you know they come to the well to drink periodically.
11:49
SPEAKER_01: Absolutely.
11:50
SPEAKER_01: And and when I learned about 1031 exchanges, that helped me to sell more homes and and help more people in a way that they're so grateful for.
11:58
SPEAKER_01: I mean, when you learn a when you teach somebody a new way to do something better that saves them money or you know unlocks uh the possibility of doing something that they didn't think they could do, they're grateful for it.
12:12
SPEAKER_01: And so just learning about 1031s has helped me, but this this is cool.
12:16
SPEAKER_01: So I learned about this, and I'll let you kind of tell everyone what this what this is called and how it works.
12:22
SPEAKER_01: But I I first heard about this five, six years ago, um, you know, through the Real Estate Investor Association and and all that, and I know just enough to be dangerous.
12:33
SPEAKER_01: I know, you know, I don't have one put together, but it sounds fairly simple.
12:39
SPEAKER_01: Andrew, tell tell the peeps of the Massive Agent Podcast, what is this strategy or what is this tool?
12:47
SPEAKER_01: How does it work?
12:48
SPEAKER_01: And how can they uh how can they increase the potential buyer pool that they have by educating people on this?
12:56
SPEAKER_00: Sure.
12:56
SPEAKER_00: So, you know, the strategy that I'll discuss today is gonna help people, and this is for people who are real estate investors, not somebody who's buying their first home or something like that.
13:03
SPEAKER_00: This is for uh, you know, somebody who is serious about real estate investing, and this is a way to do that, and one of, if not the most tax-advantaged way that there is to invest in real estate.
13:17
SPEAKER_00: Um, so I'll I'll kind of start by saying hopefully what we're accomplishing today, and kind of what my mission is here, is to arm real estate agents or people in the industry with this knowledge, because it's very important.
13:31
SPEAKER_00: As any real estate agent knows, there are tons of real estate agents, and and the the million-dollar question is how do you separate yourself from the noise?
13:41
SPEAKER_00: How do you separate yourself from everybody else and be that person that is you know the undisputed expert in and around your area, and the person that if you want the best real estate help you get, you go to this person.
13:53
SPEAKER_00: So I'll start by saying, you know, a large part of you know what I do with my time, I spend 12 to 15 hours a week on reading and research.
14:00
SPEAKER_00: And I'm constantly on my on my Facebook page and stuff.
14:03
SPEAKER_00: I'll put out, and it's just information, it's not advice or anything like that.
14:06
SPEAKER_00: It's just information on uh and pretty high-level information on here's what's going on, um, you know, here's what's going on with the economy of the stock market, or or just you know, whatever it is, something that I think people will find interesting.
14:18
SPEAKER_00: Um, but I I'm able to find that information and give it to people by doing that research.
14:25
SPEAKER_00: Um, and you know, I think in the eyes of a of a lot of people, or at least from you know, the the comments I get from the information that I give, um, you know, uh at least the goal is is to position myself as the expert.
14:38
SPEAKER_00: Um, and so that's I just would encourage real estate agents um you know, on your social media and your other platforms, uh, you know, become a student of what you're doing and spend time reading and researching and and you know, find little unknown things like this.
14:54
SPEAKER_00: So, you know, it doesn't have to be this, but this can be one of them.
14:56
SPEAKER_00: But find little unknown things where you can kind of drip it out there and give people information where people go, huh, I didn't know that.
15:03
SPEAKER_00: That's interesting.
15:03
SPEAKER_00: And you were the person that gave them that information, and you all of a sudden became like they're gonna think, well, nobody other, I've never heard any other real estate agent or anybody else say this.
15:11
SPEAKER_00: And now you're positioning yourself as the expert.
15:13
SPEAKER_00: So that's what this is one piece of information.
15:16
SPEAKER_00: There's tons of you know, other things, but this is one of those things that I'm hoping that armed with this information, this will help you position yourself as an expert in your community, then your clients and and your prospective clients' minds, uh, and really elevate yourself above the other real estate agents in your area.
15:36
SPEAKER_01: Yeah, it gives you a competitive advantage for sure.
15:39
SPEAKER_00: Exactly.
15:39
SPEAKER_00: So what is it?
15:41
SPEAKER_01: How does it work?
15:42
SPEAKER_00: Sure.
15:42
SPEAKER_00: So um you know what it's called is a self-directed retirement account.
15:46
SPEAKER_00: So I'll just say self-directed IRA to keep things simple, but it could be a self-directed 401k, a self-directed SEP IRA, simple IRA, traditional IRA, Roth IRA, whatever.
15:55
SPEAKER_00: So I'm when I say self-directed IRA, it can be, you know, just about any kind of retirement account, but just to keep things simple.
16:01
SPEAKER_00: Gotcha.
16:02
SPEAKER_00: Okay, I say self-directed IRA.
16:03
SPEAKER_00: So, you know, what this is, a lot of people don't know, real estate agents included, that you can invest in real estate and get all the tax within your IRA or within your retirement account and get all the tax advantages that that retirement account would give you.
16:18
SPEAKER_00: So, you know, think about being able to, you know, if you're flipping properties, think about you know the gains that you make on that flip, not having to pay taxes on it right away.
16:28
SPEAKER_01: Yeah, that's a big hit.
16:29
SPEAKER_01: That's a big tax.
16:30
SPEAKER_00: That's a huge if you could take if you could take all that money and reinvest it as opposed to taking a portion of that money after taxes to reinvest, think about the compounded effect over a long period of time, right?
16:42
SPEAKER_00: If you made$50,000 on a flip, but you had to pay 20% taxes on it, I'm just making up numbers.
16:47
SPEAKER_00: But if you had to pay 20% taxes on it, well, you paid 10 grand to taxes, so you got$40,000 to reinvest, right?
16:53
SPEAKER_00: Rental income.
16:54
SPEAKER_00: If you're getting, you know,$5,000 a month in rental income from your properties, and that's taxed again.
16:59
SPEAKER_00: I'm making up numbers at 20%, then only$40,000, oh, excuse me, only$4,000 of that can you take and reinvest, right?
17:05
SPEAKER_00: So I mean, within your retirement account, think about being able to uh you know reinvest all of that money, all of the all of the gains or the income that you're getting from these properties, and think about the compounded effect that that could have that that could have over years or even decades.
17:21
SPEAKER_01: That's well, that's crazy, yeah.
17:23
SPEAKER_01: Because I mean, if you're not investing within an IRA or 401k or whatever, yeah, you that tax hit just eats away.
17:31
SPEAKER_01: And those are it's not like it's 3%.
17:33
SPEAKER_01: Like you're right, what, 15, 20% is what you're paying in tax or something like that?
17:38
SPEAKER_00: Or is it depend.
17:39
SPEAKER_00: Yeah, so it it depends.
17:41
SPEAKER_00: So it can be short-term capital gains or long-term capital gains.
17:44
SPEAKER_00: Um it really just depends.
17:46
SPEAKER_00: But I mean, even if it's 15%, you know, if you're like, well, I made, you know, to keep math simple, I made$10,000 on this flip.
17:52
SPEAKER_00: No, you didn't.
17:53
SPEAKER_00: You made$8,500 after taxes, if it's a 15% tax.
17:57
SPEAKER_00: You know what I'm saying?
17:58
SPEAKER_00: Yeah.
17:59
SPEAKER_00: Um you know, it looks like you made$10,000, but no, you didn't.
18:03
SPEAKER_00: You're taking home$8,500.
18:04
SPEAKER_01: Right, exactly.
18:05
SPEAKER_01: Uh okay, so that's interesting.
18:07
SPEAKER_01: So if I have a Roth IRA and and if I I think I have this right.
18:13
SPEAKER_01: So a Roth, you pay taxes on the seed and not on the crop, right?
18:18
SPEAKER_00: So exactly.
18:19
SPEAKER_00: That's a good way to put it.
18:20
SPEAKER_00: That's right.
18:20
SPEAKER_01: I'll thank Dave Ramsey for that.
18:22
SPEAKER_01: I believe I'll learn that from him.
18:23
SPEAKER_01: But you're taxed on the money uh when it goes in, and then all the returns grow tax-free forever.
18:30
SPEAKER_01: Uh, traditional is different.
18:32
SPEAKER_01: Uh, but so if I have 400K in a Roth, I I liquidate whatever I whatever investments, and now I have 400K in cash in my Roth IRA.
18:42
SPEAKER_01: I could do this self-directed option and basically write a check for my IRA to buy a property.
18:49
SPEAKER_00: That's right.
18:49
SPEAKER_00: Yeah, and so I'll I'll say for a lot of real estate agents out there, uh, a lot of you're not gonna run into a lot of people.
18:55
SPEAKER_00: Most people have their money in a pre-tax account that's gonna be taxable, so like a traditional IRA, traditional 4MK, CEP IRA, whatever.
19:02
SPEAKER_00: So just so you know, if you run into somebody and they're like, well, I would rather, you know, invest within uh you know in properties within a Roth IRA, but I don't have a Roth IRA.
19:10
SPEAKER_00: Well, you can convert part or all of your pre-tax accounts to a Roth IRA.
19:15
SPEAKER_00: So in other words, if you had half a million dollars in your traditional IRA that's you know taxable, and you're like, well, I'd like to do, you know, I'd really like to invest in it within a Roth.
19:22
SPEAKER_00: Well, then you can convert part of part or all of that money over into a Roth IRA.
19:28
SPEAKER_00: You know, you'd have to pay taxes on whatever portion you convert, but there are no penalties or anything.
19:32
SPEAKER_00: Um, but then you can take that money and invest it in properties or anything else that you want, and then never have to pay taxes on the gains.
19:40
SPEAKER_00: So just to talk about, just on your point, to talk about the power of a Roth IRA, let me just say for everybody listening, answer this question to yourself.
19:48
SPEAKER_00: Over the next 20 or 30 years, do you think taxes will go up or down?
19:51
SPEAKER_01: Yeah, they're obviously going up.
19:52
SPEAKER_00: Most people yeah, most people say up, and I agree with them.
19:55
SPEAKER_00: Now we really don't know.
19:55
SPEAKER_00: There's a lot of factors that play into it, but if you just look at where, you know, where where the uh look at what's being proposed.
20:02
SPEAKER_00: Right.
20:02
SPEAKER_00: I mean, just listen look at the fiscal state of the United States, right?
20:05
SPEAKER_01: Yeah.
20:06
SPEAKER_00: But point is is that um you know, to be able to imagine investing in a property, flipping properties, flipping it over and over and over, never having to pay taxes on those gains.
20:19
SPEAKER_00: Imagine having rental income from these properties that you never have to pay taxes on.
20:25
SPEAKER_01: That almost sounds too good to be true.
20:27
SPEAKER_01: So I can't wait till you um expand a little bit on on how it works.
20:31
SPEAKER_01: Because it's like this is so freaking powerful, and it's something I'd kind of forgotten about.
20:36
SPEAKER_01: Um, you know, because like, oh, cool, you could do this self-directed thing, you could do 1031, but like this is this is a big deal.
20:43
SPEAKER_00: Yeah, and it, you know, 1031s are great too, and I'm you know, people should should utilize them if uh you know uh under the right circumstances.
20:50
SPEAKER_00: But and people should only use self-directed IRAs under the right circumstances, too.
20:54
SPEAKER_00: So, you know, people should realize that this is retirement money.
20:57
SPEAKER_00: If you're gonna invest in properties within an IRA or some sort of retirement account, this is retirement money.
21:03
SPEAKER_00: This is money that you can access after age 59 and a half, as far as start to starting to draw the money out and use it and spend it.
21:10
SPEAKER_01: Gotcha.
21:10
SPEAKER_01: And that's an important distinction.
21:12
SPEAKER_01: So like if you're if you are wanting to start a house flipping business and that is your uh that's how you make a living now, this sounds like this is not the the this is not for you.
21:23
SPEAKER_00: No, right.
21:24
SPEAKER_00: If you want to invest in properties and whether you flip them or rent them or whatever else or whatever else, and if you want to, again, the compounded effect, not having to pay taxes on the rental income to reinvest, not having to pay taxes on the gains on a flip to reinvest, the compounded effect of that of yours is enormous.
21:38
SPEAKER_00: Um, but again, that money does have to stay in there and be reinvested and you know, everything, or at least stay within the IRA until age 59 and a half or after, and then you can access it without any kind of penalties.
21:50
SPEAKER_00: Uh so it is retirement money because there are people out there who like to invest in real estate, you know, let's say rentals, and use that rental income now to supplement their income.
22:00
SPEAKER_00: Or whatever else.
22:00
SPEAKER_00: This ain't for those people.
22:02
SPEAKER_01: Gotcha.
22:03
SPEAKER_01: Okay.
22:03
SPEAKER_01: So that's important to note.
22:05
SPEAKER_01: Nonetheless, if it's if it's money in someone's retirement account already, that's what they're using it for.
22:11
SPEAKER_01: So this is awesome.
22:12
SPEAKER_01: Um, I I actually have a couple past clients that I know have large retirement accounts that we've talked about, you know, how can they do more with it uh in terms of real estate?
22:23
SPEAKER_01: And so like give give us the goods, man.
22:26
SPEAKER_01: Like I'm I'm chomping at the bit here.
22:28
SPEAKER_00: Sure.
22:29
SPEAKER_00: So I think I think, and real estate agents will know this better than anybody, but uh, you know, a lot of people would prefer to invest in real estate as opposed to stocks, bonds, mutual funds, everything else.
22:40
SPEAKER_00: So I mean, you know, the stock market sucked last quarter, December in particular, and so it's fresh on people's minds.
22:45
SPEAKER_00: And, you know, people just get kind of disenfranchised with the stock market a lot of times because they can't handle the ups and downs.
22:50
SPEAKER_00: Um, so not saying that people shouldn't invest in the stock market, people should diversify uh as much as they can, and they should, you know, for most people invest, you know, in stocks, amounts of mutual funds, and other other types of assets.
23:02
SPEAKER_00: Um, so you know, again, be be careful.
23:05
SPEAKER_00: People shouldn't be too overly concentrated in one any uh in any one you know type of asset.
23:09
SPEAKER_00: Um, but point is that people like investing in real estate because it's a good store of value.
23:15
SPEAKER_00: Um, you know, it it's for the most part, uh, depending on what types of properties it's appreciable.
23:21
SPEAKER_00: Um, if it's income producing, you generally, again, depending on the situation, can produce more income from real estate than you can a lot of other places, you know, like like bonds or dividend-paying stocks or whatever.
23:32
SPEAKER_00: So um, you know, it can be a very good addition.
23:36
SPEAKER_00: And so, you know, to your point, Dustin, you have those clients that have money in their retirement accounts.
23:40
SPEAKER_00: I'm sure they would love to invest in properties uh with that retirement account money if they just knew how.
23:45
SPEAKER_00: So they're they're worried about, well, tag um, I got to pull this money out and pay taxes on it and everything else.
23:50
SPEAKER_00: And then, you know, no, no, you don't.
23:52
SPEAKER_00: You can invest in properties within the IRA, uh, not have to pay taxes on it, um, you know, and get all the tax advantages that the IRA gives you.
24:00
SPEAKER_00: So, you know, by being able to go so you know, it a lot of real estate agents sitting out there, they have people that want to invest in real estate, but maybe they don't have the cash to do it.
24:09
SPEAKER_00: Uh, maybe they're kind of tapped out on credit, right?
24:11
SPEAKER_00: And they're having a hard time getting, you know, getting loans to, you know, to uh to help them invest in real estate.
24:17
SPEAKER_00: Well, that person might also have$500,000 in their IRA or 401k.
24:20
SPEAKER_00: That's just sitting there that they have no idea that they can help that they can invest in real estate with it.
24:24
SPEAKER_00: And so if you know, if you just pose the question, do you have, you know, you want to invest in real estate, correct?
24:30
SPEAKER_00: Yes.
24:30
SPEAKER_00: Do you have money in your retirement account?
24:32
SPEAKER_00: Yes.
24:33
SPEAKER_00: Okay, did you know that you could use that money and invest in real estate within your IRA and get all the same tax advantages that that that retirement account gives you?
24:41
SPEAKER_01: And I love that.
24:42
SPEAKER_01: And that's a great idea for like a Facebook post or an Instagram story to to your potential clients.
24:48
SPEAKER_01: Ask those questions.
24:49
SPEAKER_01: Say, hey, do you have a retire a retirement account?
24:51
SPEAKER_01: Did you know you could use those funds to invest in in real estate?
24:56
SPEAKER_01: And and then you just have to know, like, you know, how to get that done.
25:00
SPEAKER_01: So that's it.
25:01
SPEAKER_00: Just set the hook.
25:02
SPEAKER_00: Just yeah, you would be surprised if if everybody listening to this made that Facebook post.
25:07
SPEAKER_00: Hey, did you know, you know, for those that want to invest in real estate, did you know that you can use your retirement account to invest in real estate and get all the tax advantages, get all the same tax advantages that your retirement account gives you.
25:18
SPEAKER_00: That's all you got to post.
25:19
SPEAKER_00: Or, you know, call you know uh reach out to me for more information or whatever.
25:24
SPEAKER_00: Um, but and you would be surprised.
25:26
SPEAKER_00: People that maybe have never commented on your stuff, have never, I mean, you you would be surprised, and maybe not even right then, because I um, you know, I made a post about that uh a while back, and uh, you know, like two weeks later, I had uh somebody reach out to me that uh they you know they live in a totally different state.
25:44
SPEAKER_00: Um I'm in Florida, they live in South Carolina, and she screenshotted the the message and sent it to me.
25:50
SPEAKER_00: She was like, Hey, is this real?
25:51
SPEAKER_00: Can you do this?
25:51
SPEAKER_00: And I was like, Yeah, you know, absolutely.
25:53
SPEAKER_00: Let me, you know, we set up an appointment and they're clients now.
25:57
SPEAKER_00: You know what I mean?
25:57
SPEAKER_00: So that's huge.
25:58
SPEAKER_01: Yeah, because you're planting seeds.
26:00
SPEAKER_01: When you when you post stuff like that, even though obviously your objective is to get people to reach out to you, you're planting a seed.
26:07
SPEAKER_01: And and to your point, you know, you had somebody reach reach out weeks later.
26:11
SPEAKER_01: I've had the same thing happen, people I haven't heard from since high school that I don't think they've ever uh engaged with any social media content.
26:20
SPEAKER_01: And then I'll just randomly get a message, hey, you know, I've been following you.
26:23
SPEAKER_01: I see you're doing you know cool stuff and you know, speaking here and blah, blah, blah.
26:26
SPEAKER_01: Um, we're ready to sell our house.
26:28
SPEAKER_01: Like they are paying attention.
26:31
SPEAKER_01: So plant those seeds.
26:32
SPEAKER_01: Plant those seeds.
26:33
SPEAKER_01: And this one hell of a seed.
26:35
SPEAKER_00: Yeah, and it could be months or a year later.
26:37
SPEAKER_00: Like people might remember that and go, oh, that's interesting.
26:39
SPEAKER_00: And then a year later they may go, you know what?
26:42
SPEAKER_00: I uh, you know, I remember Dustin posted something about that.
26:46
SPEAKER_00: Let me reach out to him and see, you know, and you're gonna get this weird message like, hey, I think I remember you posting something about this.
26:52
SPEAKER_00: It might be something, you know, and it might be a a year later.
26:56
SPEAKER_00: Um, so people are seeing it, whether you you know think they are or not, whether they're liking it or commenting on it or whatever, but like you said, Dustin, you are planting seeds um that you know will come to will will bear fruit at some point.
27:10
SPEAKER_01: Well, uh okay, so I'm I'm I'm chomping at the bit here and I'm I'm writing down some questions that I have.
27:15
SPEAKER_01: So if some if you have someone reach out to you and they're like, yes, you know, I have 400,000 in in my account, how do I do this?
27:24
SPEAKER_01: So it can they just is this something they can do themselves uh in their current IRA?
27:29
SPEAKER_01: Is a self-directed IRA like an additional product?
27:33
SPEAKER_01: How does that work?
27:34
SPEAKER_00: Yeah, so a person can do it on their own.
27:38
SPEAKER_00: I kind of because of all of the rules.
27:40
SPEAKER_00: And so look, guys, there's a lot of rules, and if you screw up a rule, it no longer becomes an IRA, it becomes a withdrawal for that year, and you'll pay taxes and penalties accordingly.
27:53
SPEAKER_01: It becomes a nightmare.
27:54
SPEAKER_00: It's a huge nightmare.
27:56
SPEAKER_01: So it's very important that you should represent yourself in court too.
27:59
SPEAKER_01: I I don't write.
28:01
SPEAKER_00: Right, right.
28:02
SPEAKER_00: So it's it's very important that you do it right.
28:05
SPEAKER_00: So, yes, people can do it themselves.
28:07
SPEAKER_00: There are people who are just you know staunch do-it-the-selfers, and they really need to make sure to read some literature and read some books before they do that and really make sure they're they're doing it right.
28:16
SPEAKER_00: Or, you know, they can reach out to a professional.
28:18
SPEAKER_00: I help clients with it, so they could reach out to me if they'd like.
28:21
SPEAKER_00: I have clients all I have clients in Hawaii and Alaska and all over the.
28:23
SPEAKER_00: I mean, you know, I can work with anybody anywhere.
28:26
SPEAKER_00: Um, but if they would rather work with somebody local, you know, maybe you take the initiative um and find somebody in your area and kind of have them in your back pocket, somebody that you know can do it.
28:36
SPEAKER_00: Um, you know, so if that does come up, or use me or again, somebody local.
28:41
SPEAKER_00: Some people just prefer to use somebody local, but have somebody in your back pocket that you can say, yes, let me get you in touch with this person.
28:47
SPEAKER_00: But I digress.
28:48
SPEAKER_00: So point is that yes, so people can do it by them, uh can do it themselves, but to be able to have a self-directed IRA and invest in real estate within it, um, you have to use a special kind of custodian.
29:00
SPEAKER_00: And so when I say custodian, most people think of like, you know, Fidelity or Vanguard or you know, uh, you know, these different companies that they have their IRAs or 401ks with.
29:10
SPEAKER_00: Um, so those are custodians.
29:13
SPEAKER_00: Uh, but most custodians don't allow you to invest in real estate within the IRA.
29:19
SPEAKER_00: So you have to use a kind of custodian that does allow you to invest in real estate within the IRA.
29:24
SPEAKER_00: So you have to do your research there uh to make sure you find a custodian who um, you know, the fees aren't aren't outrageous and that is responsive.
29:34
SPEAKER_00: I've had a client that before they were a client, they had a self-directed IRA, and um they were using a custodian that you know we that we don't use, and they lost out on a deal because the custodian did not uh did not send the check for the house in time, um, which which brings me to my second thing.
29:53
SPEAKER_00: Um there's a self-directed IRA, um, but a more potentially efficient way to do it is by using the IRA LLC method.
30:02
SPEAKER_00: So let me talk about just a self-directed IRA first.
30:05
SPEAKER_01: Nice.
30:05
SPEAKER_00: So if you open up a self-directed IRA with custodian ABC, um what you do is that you open up the self-directed IRA there, you roll your current retirement plan into a retirement plan with them.
30:19
SPEAKER_00: There's no taxes or penalties for doing that.
30:22
SPEAKER_00: Um, and then it's with that custodian.
30:25
SPEAKER_00: And then from there, you can purchase these properties.
30:28
SPEAKER_00: But the way you have to go about doing it is everything has to be at arm's length, right?
30:33
SPEAKER_00: So if you wanted to buy, you know, property on one, two, three Main Street, you have to send a signed letter of instruction to your custodian to say, you know, I'm buying one, two, three Main Street, you know, send a check here for this amount and everything else, and then they have to process it and send a check and do all that, right?
30:53
SPEAKER_00: And then some of the rules are you can't do any repairs on the properties.
30:57
SPEAKER_00: Right?
30:58
SPEAKER_00: So in other words, if it needed uh, yep, if it needed painting or if it needed uh, you know, so I'll let me get into that in just a little bit.
31:06
SPEAKER_00: But point is is that you know, if you needed a plumber, so if a plumber came and fixed, you know, did a job for you, and you needed to pay them 500 bucks, then you have to send another line uh signed letter of instruction to the custodian and they write the check and send it to the right.
31:19
SPEAKER_00: So it's just uh you know, it's extra steps and you can get bogged down with it.
31:22
SPEAKER_00: So the IRA LLC method, what you do is you have your self-directed IRA, you create a new LLC.
31:29
SPEAKER_00: So this cannot be an LLC that you currently own.
31:32
SPEAKER_00: You create a new LLC that is owned by the IRA.
31:36
SPEAKER_00: You position yourself as the non-compensated manager.
31:41
SPEAKER_00: Very important.
31:42
SPEAKER_00: You do not get any compensation by being, you know, from this LLC.
31:47
SPEAKER_00: You position yourself as a non-company.
31:49
SPEAKER_00: Yes, nothing, nothing, no salaries, no draws, no nothing.
31:53
SPEAKER_00: Gotcha.
31:54
SPEAKER_00: Um so that you were position yourself as a non-compensated manager, then you send a letter of instruction to the self-directed IRA telling them to write a check for any or all of the value of your IRA to the LLC, to the LLC's bank account.
32:08
SPEAKER_00: You put it in the LLC's bank account, and then from there, since you are the non-compensated manager, then you are able to write checks to purchase properties.
32:15
SPEAKER_00: You are able to write checks to pay plumbers and that kind of stuff, right?
32:20
SPEAKER_00: So it removes that middleman and kind of gives you more freedom and flexibility, uh, which a lot of which a lot of people appreciate, and can cut down on fees as well.
32:29
SPEAKER_00: Um and because the LLC is owned by the IRA, you know, anything that comes in and out of the IRA bank account keeps that same tax status that the IRA does.
32:42
SPEAKER_00: Um so in other words, like if if you know if you wrote a$100,000 check to purchase a property, you did whatever repairs on it or whatever you needed to do, and you flipped it and you sold it for$150,000, the$150,000 all has to go back to the LLC's bank account.
32:59
SPEAKER_00: If you're renting properties, the rental income has to go to the LLC's bank account, right?
33:05
SPEAKER_00: Um, so it's very important that you cannot get any compensation from that LLC and all of the money, all the money being made has to stay within that LLC's bank account because the IRA owns that LLC.
33:17
SPEAKER_00: Right?
33:18
SPEAKER_00: So that makes sense.
33:19
SPEAKER_01: Otherwise, you'd be drawing from your retirement account, basically.
33:22
SPEAKER_00: That's exactly that's okay.
33:24
SPEAKER_00: Exactly right.
33:25
SPEAKER_00: Yeah.
33:25
SPEAKER_00: Can you do this in all 50 US states?
33:28
SPEAKER_00: Yep.
33:29
SPEAKER_01: Sweet.
33:30
SPEAKER_00: Yep.
33:31
SPEAKER_00: Um, and so look, some of the some of the rules are, and and the the I don't even know if I want to get into all of the rules because uh, you know, uh for the agents, I'm not saying that they don't need to know this information, but it might just bog them down.
33:46
SPEAKER_00: But I I'll just say there's there's a lot of rules.
33:48
SPEAKER_00: You gotta make sure to do it right.
33:50
SPEAKER_00: Um, a person a person needs to really understand the rules and how it works, because again, and that's why so like my my clients that work with me on this, um I I'll give them uh some information to reference.
34:02
SPEAKER_00: You're like if they have a self-directed IRA with me, like here, here's this information.
34:06
SPEAKER_00: Before you do anything, you either reference this.
34:09
SPEAKER_00: So, first of all, read it.
34:11
SPEAKER_00: Take the time to read it, but then you know, when something comes up, reference this before you do anything.
34:16
SPEAKER_00: Or you can call us and we'll be able to, you know, before you do anything, if you think you might screw, you know, accidentally screw something up, call us first.
34:24
SPEAKER_00: We'll get we'll let you know if that's something you can do or not.
34:26
SPEAKER_00: Um if we can't give you the information right away, you know, either me or or you know one of our attorneys or somebody on staff will be able to get the information for you, you know, within a couple days and we'll we'll let you know.
34:37
SPEAKER_00: But point is is that um you don't want to make a mistake because if you got five hundred thousand dollars in your IRA and you screw up and break one of the rules, then that becomes a withdrawal for that year, and you know, now you're paying taxes and penalties on you know five hundred thousand dollars.
34:53
SPEAKER_01: So yeah, this is not something I'd even want to entertain the thought of messing with myself.
34:59
SPEAKER_01: Um I'm I mean, it I don't do my taxes myself.
35:02
SPEAKER_01: I don't, you know, if I ever had to go to court, I wouldn't represent myself.
35:06
SPEAKER_01: I'm not a psychopath like Ted Bundy or something.
35:09
SPEAKER_01: Right.
35:09
SPEAKER_01: You know, so no, you hire a professional that knows what the hell they're doing, and then they make your life easier by doing it the right way.
35:16
SPEAKER_01: Um so and this is so if somebody, if I have a client, they're like, hey, I have this retirement account, I would like to buy some property with it.
35:24
SPEAKER_01: How do I do it?
35:25
SPEAKER_01: This is something that we just reach out to Atlas Financial and and you guys, and and you handle everything or a portion of everything, or yeah.
35:35
SPEAKER_01: How does that work?
35:36
SPEAKER_00: So we're obviously not helping them, we can't.
35:39
SPEAKER_00: We're we're not real estate experts, and you know, so we're not helping them pick which properties to buy.
35:44
SPEAKER_00: Um you know, that's that's right.
35:46
SPEAKER_00: That's our job.
35:46
SPEAKER_00: That's up to them, and right.
35:48
SPEAKER_00: That's that's up to the client and you uh as a real estate agent to you know to help them with that.
35:52
SPEAKER_01: Yeah.
35:52
SPEAKER_01: Um the self-directed retirement account.
35:58
SPEAKER_00: That's right.
35:59
SPEAKER_00: So we'll we'll help them get everything set up.
36:01
SPEAKER_00: Uh if they want to do just a traditional self-directed IRA method, or if they would rather use the IRA LLC method, which most people do just because they you know.
36:09
SPEAKER_00: Um and also one other thing is you just one of the rules that I think is important.
36:15
SPEAKER_00: You cannot um manage the properties yourself.
36:18
SPEAKER_00: You have to have it professionally managed.
36:20
SPEAKER_01: Interesting.
36:21
SPEAKER_01: Okay.
36:21
SPEAKER_00: Yep.
36:21
SPEAKER_00: So just another little rule um that you you need to know.
36:25
SPEAKER_00: Uh and again, there's a ton, but just something that people are gonna want to ask uh or you need to know to tell them because you know some people like managing the properties themselves, and that's that's a big no-no.
36:34
SPEAKER_00: Um so yeah, they again that we'll we will help them uh you know kind of suss through the tax legal and financial implications of what they're doing.
36:44
SPEAKER_00: And so again, everything has to be part of a financial plan.
36:48
SPEAKER_00: So, you know, it it's not it's not as easy as like, oh, hey, call us and we're just gonna help you with that.
36:53
SPEAKER_00: We we can't.
36:54
SPEAKER_00: So I mean it it's you know, our we will do a full-fledged formal financial plan, and that will be part of it because before we can recommend to somebody that you should, you know, take your retirement account, invest it all in real estate.
37:09
SPEAKER_00: We have to make sure that you know, from a risk profile, this is gonna fit what you're doing.
37:13
SPEAKER_00: From a retirement planning and income planning profile, this is gonna fit what you're doing.
37:18
SPEAKER_00: Like it has to fit the financial plan, and the only way to do that is to do a full formal financial plan.
37:23
SPEAKER_00: And so that's that's the process with us at least, is that we will do the full formal financial plan.
37:28
SPEAKER_00: We will have our attorneys, CPAs, and CFPs um, you know, take a look at everything uh to make sure that everything and it's super in depth.
37:36
SPEAKER_00: Um we actually do what's called a Monte Carlo analysis, which we probably look at what you currently Yeah, like the car, right?
37:44
SPEAKER_00: So yeah, Monte Carlo analysis.
37:46
SPEAKER_00: And so what it is is it takes a look at you know what you currently have going on and what you're currently doing, uh, and then whatever your plans are or whatever you're trying to achieve, and runs literally a thousand different potential outcomes, a thousand different variables, and gives you a statistical probability of based on what you're doing and what your current plans are, you have a, and I'm making these numbers up, you have a 78% chance of reaching your retirement goals, or you know, using retirement as an example.
38:10
SPEAKER_00: Uh, and so we're able to look at, okay, well, we're not happy with 78%.
38:14
SPEAKER_00: So we need to tweak this, change this, do that, and then this gives us a 96% chance of reaching your retirement goals.
38:21
SPEAKER_00: Um, and so, anyways, that's you know, that's the kind of stuff we have to do to be able to comfortably tell somebody, yes, this is this is a good fit for what you're trying to do.
38:30
SPEAKER_00: This fits, this fits your risk profile, this fits your you know, your investment, your your time horizon, and and uh risk tolerance, and you know, from uh from an income planning perspective or from a retirement planning perspective, this fits.
38:43
SPEAKER_00: So, yes, this is you know, this is a good fit for you.
38:46
SPEAKER_00: Um, we'll help you, you know, get everything set up, we'll help you make sure you're not breaking any of the rules, um, and then throughout the year or through you know, throughout our time together, um you know, me and my team are here to where if you have questions, like before you do anything, call us, make sure that that's you know, you're not making a mistake um and not breaking any of the rules, and we'll that's what we're here.
39:11
SPEAKER_01: So it once you have a self-directed, like let's say you choose a self-directed Roth IRA or you do the LLC thing, um is that something you set up once and then it's good, or do you have to like maintain it on an annual basis?
39:26
SPEAKER_01: What what does that look like?
39:27
SPEAKER_00: Yeah, no, I mean you you set it up and then you know um obviously it's being managed by you know the client and the real estate agent or whoever is helping them purchase properties.
39:38
SPEAKER_00: Because obviously, you know, if you're flipping properties and you're you're doing whatever you're doing with that and flipping properties and hopefully, you know, um, you know, reapplying that money to another property, or if you're renting, uh, you know, you're taking that income and hopefully reinvesting everything else.
39:54
SPEAKER_00: So I'll I'll say um this is a big question.
39:57
SPEAKER_00: So yes, you can um, you know, get a loan or get a mortgage within the IRA on properties, um, but ideally you would want to have enough in your retirement account to be able to pay cash for these properties, right?
40:13
SPEAKER_00: And so the reason I say that is because you are able to get a loan, but it has to be what's called a non-recourse loan.
40:19
SPEAKER_00: There is an extra tax uh associated with that, and it's not like a percentage, there's a calculation you have to do, but um there's an extra tax associated with it if you have uh you know if you have loans on the property.
40:30
SPEAKER_00: So again, ideally you would want to be able to pay cash for the properties.
40:33
SPEAKER_00: You also want to make sure that you maintain, so there's a kind of a rule of thumb is a 75-25.
40:39
SPEAKER_00: So you know, don't spend more than 75%, you know, always keep 25% or so of the value of your IRA liquid.
40:48
SPEAKER_00: So only deploy 75% or so on purchasing properties, because of course the properties for the most part are non-liquid.
40:55
SPEAKER_00: So you want to have that 25% there or so, because if you had, as an example, if you had$5,000 in your retirement account and the property, because you spent all but five thousand dollars on a property, and that property needs a new roof, and that roof costs fifteen thousand dollars, well, you are in quite a pickle because you can't use your own personal money on any repairs on these properties.
41:19
SPEAKER_00: All the money spent on the property has to come from the IRA.
41:22
SPEAKER_01: Oh, interesting.
41:23
SPEAKER_00: Okay, so you know, if you had$5,000 left in the IRA and you needed$15,000 for a new roof, well, then you are up the creek, my friend.
41:31
SPEAKER_00: You know what I mean?
41:32
SPEAKER_00: So you you want to keep a a you know, a reasonable amount of liquid money in your retirement account for such instances, so you don't get yourself in some sort of pickle.
41:43
SPEAKER_00: And that extra amount, yeah, that extra amount can be invested.
41:45
SPEAKER_00: It doesn't have to you know, it doesn't have to just sit there in cash doing nothing.
41:48
SPEAKER_00: It can be invested in stocks, bonds, mutual funds, CDs, you know, whatever it is you want, so it's not just sitting there doing nothing.
41:55
SPEAKER_00: Um, but you gotta keep a certain amount liquid because all the money spent on these properties have to come from the IRA, can't use personal money.
42:04
SPEAKER_01: Uh I guess depending on the amount, though, you could make an IRA contribution and then use that for the repairs, as long as it's not more than whatever the contribution limit is, correct?
42:16
SPEAKER_00: Absolutely.
42:16
SPEAKER_00: Absolutely.
42:17
SPEAKER_00: Yeah.
42:17
SPEAKER_00: So you know the new rule is if you're so 2019's number numbers, is it if you're under age 50, you can contribute$6,000 a year to a traditional or a Roth IRA.
42:28
SPEAKER_00: Um if you're over the age of$50, you get an extra$1,000 catch up, so$7,000 a year.
42:33
SPEAKER_00: So that's not a whole lot, you know, if you're talking about new roofs.
42:37
SPEAKER_00: Um 401ks, you can contribute up to$19,000, or you, you know, and you get an extra, I think,$6,000 catch up if you're over$50,000.
42:43
SPEAKER_00: Um so that's more than SEP IRAs, depending on your tax situation.
42:47
SPEAKER_00: Uh this is a CPA question, but I think you can contribute up to almost$60,000,$50 something thousand dollars, I think.
42:53
SPEAKER_00: Almost$60,000, or right around$60,000.
42:56
SPEAKER_00: But uh anyway, so you know, to your point, yes, you can, but you you just want to, you know, you just want to make sure you're not getting yourself in any kind of trouble.
43:05
SPEAKER_01: No, that that's good advice.
43:06
SPEAKER_01: And these are things that are so important to know going in.
43:09
SPEAKER_01: And obviously, uh like we're not gonna remember all of these details as agents.
43:16
SPEAKER_01: Um, you know, even though I'm all excited about it, some of the details will fade.
43:20
SPEAKER_01: But that's why you have a go-to team, a go-to company, a go-to person to handle this for you, for your clients, whoever.
43:28
SPEAKER_01: So you can just let your clients know.
43:31
SPEAKER_01: And again, do those Facebook posts, do those Instagram stories, do those videos where you just like plant the seed and let people know hey, this is possible if you want to learn out how, or if you want to find out how, let's talk.
43:43
SPEAKER_01: And then refer them over to Atlas Financial or whoever.
43:47
SPEAKER_01: But um, Andrew, I I do have a question.
43:50
SPEAKER_01: Um you were talking about the this fancy Monte Carlo analysis deal that makes me think of James Bond in like Casino Royale or whatever.
43:58
SPEAKER_01: Right.
43:59
SPEAKER_01: Um You know, and and of course you think of like big money when you think of Monte Carlo.
44:04
SPEAKER_01: Um I guess so what's good about that is and refreshing is that you're not just taking people's money to set up this self-directed thing and not really caring if it works for them or not.
44:18
SPEAKER_01: But on the other hand, it sounds like it's more expensive when you're going that in depth.
44:23
SPEAKER_01: Can you give us some sort of estimate, some sort of ballpark, some sort of idea on you know uh how much this costs to get set up and um you know, is it feasible for most people?
44:35
SPEAKER_01: I mean, speak to to the cost of doing this in the short term, that is.
44:40
SPEAKER_00: Yeah, so I I can only speak for you know the costs associated with me and my team helping somebody do a plan.
44:46
SPEAKER_00: And so this is gonna be a pretty wide range, but it's anywhere from$2,500 a year to$25,000 a year.
44:52
SPEAKER_00: And so it just depends on uh, you know, like if I owned a construction business and somebody wanted me to come bid a job for them, I have to decide how many man hours is this gonna take, you know, what all is this gonna take to complete this job.
45:06
SPEAKER_00: And I have to bid it accordingly so I'm not you know losing money by spending a ton of you know, by making five dollars an hour because I've spent yeah, you know, because I'm spending way more time on this than I'm being compensated.
45:15
SPEAKER_00: So um we can either church we can either charge per hour or you know, for the plan.
45:20
SPEAKER_00: And so the financial planning fee, if it's an upfront fee, basically buys us for the year.
45:25
SPEAKER_00: Um but it you know, and it just depends on how complicated the situation is.
45:29
SPEAKER_00: So I will say, I mean, most average people are somewhere between 2,500 and 7,500 a year.
45:36
SPEAKER_00: So and and really you know, even a larger percentage percentage of those people are between 2,500 and 5,000 a year.
45:44
SPEAKER_00: Um so you know, uh the the more than that usually is either you know somebody who is you know very wealthy and has a lot going on as far as you know very complicated planning, a lot of moving parts, or you know, businesses where of course there's a ton of moving parts and a ton of things to consider and it just takes a lot of time.
46:02
SPEAKER_00: Um and then I also have clients as well that are more um high maintenance than others.
46:08
SPEAKER_00: You know, I have some clients that's like, hey, you know, just do your thing, call me if you need me, you know, call me if something needs to change, or you know, we'll get together next year and that's fine.
46:18
SPEAKER_00: I got some clients that you know they want me to at least call them once a month.
46:23
SPEAKER_00: Uh I got clients that need, you know, want me to meet with them once a month or once a quarter.
46:27
SPEAKER_00: You know, so I'll and it so it's a relationship.
46:30
SPEAKER_00: So we you know we have to have that conversation of we need to set expectations up front.
46:34
SPEAKER_00: You know, what is it you need from us?
46:35
SPEAKER_00: Now, having said that, we also don't charge, like if we we charge somebody five thousand dollars for an annual financial planning fee, and um you know, we we produced a plan for them, and then six months later they call us and they say, Hey, we got this going on, you know, I need one of your attorneys or one of your CPAs or somebody that to, you know, or you or whoever to you know spend some time helping them.
46:57
SPEAKER_00: There's not an extra charge for that.
46:58
SPEAKER_00: Like that's that's baked into that.
47:01
SPEAKER_00: The financial planning fee buys us for a year, right?
47:03
SPEAKER_01: You're not charging per email like some of these jackpats.
47:06
SPEAKER_00: Yeah, yeah.
47:07
SPEAKER_00: We're not charging.
47:08
SPEAKER_00: I I had a yeah, I have a buddy that used an attorney and um he said that he you know I was getting her, uh, she was helping him with something, and uh she had he called the office and talked to her about something for 30 minutes or whatever it was, and he said a couple a couple weeks later he got a bill in the mail for like 180 something dollars for that phone call.
47:28
SPEAKER_01: Yeah.
47:29
SPEAKER_00: Um so yeah, none of that.
47:30
SPEAKER_00: It buys us for a year.
47:31
SPEAKER_00: Now, having said that, if we agreed, you know, upon something, you know, at the beginning of the year, and then the the you know, you won the lottery or you inherited a bunch of money or something, you know, and it and the situation changes and we have to spend a lot more time on it, well then next year your fee would be reflective of that, you know what I mean?
47:49
SPEAKER_00: So um that's a long-winded way to say.
47:52
SPEAKER_00: I mean, most people can expect between$2,500 and$7,500 a year.
47:57
SPEAKER_01: Cool.
47:57
SPEAKER_01: And and so here's the question that comes to my mind can that fee be paid from the retirement account or from the LLC the retirement account owns?
48:08
SPEAKER_00: No, no, because that would still be considered a withdrawal.
48:11
SPEAKER_00: Um but I will I will say if people own a business um or some sort of you know business entity, if paid through the business entity, uh it is a tax write-off for the business.
48:23
SPEAKER_00: Uh so if paid personally, it's not a tax write-off, but if paid through a business, uh and not the LLC that your IRA owns, because that would be technically come coming from your IRA, um, it is it is a tax write-off.
48:36
SPEAKER_00: So if they're gonna yeah, if the government's gonna give you a tax write-off for, well then you're effectively paying me, you know, whatever, 20 or 30 percent less.
48:44
SPEAKER_01: So awesome.
48:45
SPEAKER_01: Cool.
48:46
SPEAKER_01: Um, no, I like this.
48:47
SPEAKER_01: And I mean, there's a ton of questions, obviously, but it when I get to this point where I just I know enough to uh just to let someone know what's possible, at that point, then I just want to find someone competent who can handle the rest because uh then you then as a real estate agent, you're getting into legal and tax advice, which we don't want to do anyways.
49:09
SPEAKER_01: So like you know, be careful guys in your marketing, just just at you know, like we said in the beginning, um, you know, do you have a retirement account?
49:17
SPEAKER_01: Would you like to learn how to buy more real estate within that account and you know have tax benefits?
49:24
SPEAKER_01: Like I wouldn't get much in much more into it than that.
49:28
SPEAKER_01: But then um, Andrew, if you know we have a client or 10 that wants to do this, how do we reach you?
49:36
SPEAKER_01: How do we how do we reach out to you and um inquire about your services?
49:42
SPEAKER_01: How can people find you?
49:43
SPEAKER_00: Yeah, so yeah, you know, you can go to the website, uh the website, you'll be able to email me, and there's a phone number and everything right there where you can you know, you can see the phone number and give us a call.
49:52
SPEAKER_00: Um the phone number, uh, you know, it's my assistant who usually picks up the phone.
49:56
SPEAKER_00: Just tell her, say, hey, hey, look, you know, this is who I am, this is what I'm looking to talk to him about, and just schedule a phone call and we'll talk about you know whatever it is.
50:03
SPEAKER_00: Um and you there's also a place on the website where you can input, you know, I'd like a consultation or something like that, and then we'll reach out to you if you don't have time to call.
50:12
SPEAKER_00: Um But I will say for those that still those that are still listening, um, I I do go to uh real estate agencies and offices and give this talk where I will uh you know be in front of your team and your agents or whoever it is, and go, you know, go over all the same uh all uh over all these same things.
50:34
SPEAKER_00: I have um articles that I've written about this subject that I'll hand out, uh, and then you know I'll go over how everything works, I'll answer questions so the agents can be you know as knowledgeable as possible about this.
50:48
SPEAKER_00: And then we also follow up once the agents get the information, uh we'll follow up and we'll do uh seminars or workshops or whatever you want to call them for the uh consumer.
50:59
SPEAKER_00: So, you know, if you have a real estate uh agent's office of 20, 50, 100, 150 agents, uh, and you know, we're you know, and it's it's as big as a real estate agency wants to make it, right?
51:11
SPEAKER_00: So I mean if you if y'all rally the troops and say, hey, look, this could put a lot more money in your pocket because there's a ton of money, there's a ton of people out there with money in their retirement accounts that they don't know that they can purchase real estate with, and we can be the people to give them that information and then help them with that, right?
51:27
SPEAKER_00: So you gotta think if you had uh, you know, if you were able to get 30 people or 50 people, uh, let's just, you know, let's say if you had 50 people in the room, if you're able to call current clients, prospective clients, put it on your, you know, on your social medias and stuff and really let the community know that y'all are, you know, that you're doing this.
51:46
SPEAKER_00: Um, and if y'all got 50 people in there, if those people had an average of$250,000 in their retirement accounts that they're looking to, you know, potentially invest in real estate, what's$250,000 times$50?
52:00
SPEAKER_01: Yeah, that that's uh that's closing a few deals.
52:02
SPEAKER_00: Yeah, that's a that's a whole lot of money sitting there in that room that y'all can, you know, that the agents can help them purchase real estate with.
52:10
SPEAKER_00: Yeah.
52:10
SPEAKER_00: So you know, if people are coming to the all it takes is a little bit, you know, some phone calls, some emails, and some social media posts and doing a little bit of advertising for it to get meet in the seats.
52:19
SPEAKER_00: Um, and then you get you know, you fill a room full of people, I show up, I give the information, I answer questions, and then I leave it to y'all.
52:28
SPEAKER_01: And so you know I love that.
52:29
SPEAKER_01: I love that.
52:30
SPEAKER_01: Uh yeah, this gives me the idea of doing like a you know a seminar for you know for for people wanting to learn the strategy.
52:38
SPEAKER_01: And you could advertise it, you could record a video, you know, send it out to your email list, you you could do a Facebook ad to cold to a cold audience or to a warm audience through retargeting.
52:47
SPEAKER_01: I mean, you could have your brokerage get behind it, you could have sponsors get behind it.
52:52
SPEAKER_01: Um yeah, this could be huge.
52:55
SPEAKER_00: It could be huge.
52:55
SPEAKER_00: And I mean, most seminars we usually will do, you know, we'll we'll do over a couple nights to give people, you know, because some people might be able to make it on a Tuesday, some a Wednesday, some a Thursday, whatever, you know, give people a couple nights or or lunches or whatever, whatever time of day you want to do it, you know, um, and give people different times where they can come.
53:12
SPEAKER_00: And like I said, if you got 50 or 100 agents in there, if each people, if each agent got two people to come, that's that's a lot of people.
53:20
SPEAKER_00: And then like I said, if each person had an average that showed up, if each person had an average of$250,000 in their retirement account, that's a lot of money sitting in that room that is that these people are getting the information and potentially ready to deploy uh to help them purchase real estate.
53:34
SPEAKER_00: And who do you think is gonna help them purchase that real estate?
53:36
SPEAKER_01: Absolutely.
53:37
SPEAKER_00: Yeah, because you invited them and were the conduit to where they got this information.
53:41
SPEAKER_01: Yeah.
53:42
SPEAKER_01: You're building your value prop with the community, with your potential clients by doing this because by by educating, by putting on a seminar that it's free for them to show up to, I mean, sure, you can get some business from it, but but you're also like you're providing something that most other agents never can and never will do.
54:02
SPEAKER_01: So I love that idea.
54:04
SPEAKER_00: Let me say something from an agency standpoint, too.
54:08
SPEAKER_00: I want everybody to stop and think about have you ever heard of any real estate agent agency in your community doing one of these?
54:15
SPEAKER_00: No, you have not.
54:17
SPEAKER_00: No.
54:17
SPEAKER_00: So if your agency is the first person and is the first agency in your town to do this and really make a big deal out of it and really spread the word and get a lot of people there, boy, does that separate that agency from everybody else.
54:31
SPEAKER_00: I could not agree.
54:34
SPEAKER_00: Y'all are the trailblazers, y'all are the groundbreakers, y'all the people that are, you know, hey, we're we're going above and beyond to give people this information and and help them out.
54:42
SPEAKER_00: And we're bringing in an expert or however you want to sell me to them, you know, but you know, we're bringing in somebody that can you know educate you on this.
54:49
SPEAKER_00: You know, if y'all are I do them from you know, for so for most of the time, uh for agencies that want me to speak to their agents, I'd be happy.
54:55
SPEAKER_00: If you want to fly me up, I'll fly you up.
54:56
SPEAKER_00: But you know, a lot of times, you know, a zoom meeting or something is fine.
55:00
SPEAKER_00: Um, but obviously a zoom meeting is not going to do for you know, if y'all are getting you know clients or prospective clients there.
55:07
SPEAKER_00: So, you know, if you're in you know Colorado or wherever else and you want me to come give the talk, fly me up.
55:13
SPEAKER_00: I'll be happy to give the talk.
55:15
SPEAKER_00: And and um, you know, hopefully something comes out of it for you.
55:17
SPEAKER_01: Very cool.
55:18
SPEAKER_01: So we're gonna have all of Andrew's and Atlas Financials contact info and links in the show notes on MassiveAgent Podcast.com.
55:26
SPEAKER_01: But Andrew, what's your website again?
55:28
SPEAKER_01: What's your URL?
55:29
SPEAKER_00: It's Atlas A T L A S, Atlas Financial Strategies.com.
55:35
SPEAKER_01: Atlasfinancial Strategies dot com.
55:37
SPEAKER_01: Awesome.
55:38
SPEAKER_01: All right, yeah, I I love it, man.
55:39
SPEAKER_01: There's so many different things you could do here.
55:42
SPEAKER_01: I mean, having having a a seminar for uh prospective buyers, uh, I mean, that's huge for past clients and and anybody um advertise it to the general public if you want with Facebook ads, whatever.
55:55
SPEAKER_01: So many different ways you could use this knowledge to sell more homes and help more people.
56:02
SPEAKER_01: And and you're planting seeds.
56:04
SPEAKER_01: I mean, not everyone's gonna be ready to do this today, but maybe they will be two years from now if you're consistent and follow up with them and have a plan in place.
56:12
SPEAKER_01: So, Andrew, thank you so much, man.
56:14
SPEAKER_01: This is this is good stuff.
56:16
SPEAKER_01: Super stoked to um to start educating my database about self-directed retirement accounts, and then I know where to send them.
56:23
SPEAKER_01: Atlasfinancial services.com, right?
56:26
SPEAKER_01: Strategies.
56:26
SPEAKER_01: Strategies.
56:27
SPEAKER_01: Sorry, Atlas Financial Strategies.com.
56:31
SPEAKER_00: Yes, sir.
56:32
SPEAKER_01: Perfect.
56:33
SPEAKER_00: Anything else that we that we didn't cover that that agents need to know right now, or no, mostly you know, the things we didn't cover were all you know, all the little rules and stuff, but again, you can just get really bogged down with that, and that's something that again the agents don't really need to you know worry themselves with too much, anyways.
56:49
SPEAKER_01: But again, I'm a simple-minded guy, so that would that would overwhelm me.
56:54
SPEAKER_00: And I I know I'm beating a dead horse with this, but seriously, from an agency's perspective, guys, from not only you as an agent, but then your agency that you represent, again, there is nobody in your town that is that is doing these.
57:07
SPEAKER_00: You could be the first, bring it up to your broker, bring it up to whoever.
57:09
SPEAKER_00: Y'all could, you know, you could be the first people in town to do this, and then I guarantee you, I guarantee you, watch.
57:15
SPEAKER_00: The other agencies in your town are gonna be, you know, second in line.
57:20
SPEAKER_00: They're gonna be the ones that's like, oh crap, like that was super successful for them.
57:23
SPEAKER_00: We need to, you know, we we might need to look at doing something like that.
57:26
SPEAKER_00: But y'all, y'all place a trail.
57:29
SPEAKER_00: Y'all are the ones that did it first.
57:30
SPEAKER_00: Um, and then to your point, like you said, you know, there those people not might that show up to the seminar might not be ready to do it right then.
57:36
SPEAKER_00: But every real estate agent would love for their phone to ring from you know, from somebody that says, I want to invest in real estate.
57:43
SPEAKER_00: So, I mean, if you do that seminar and you get people there, again, like we talked about earlier, months later or a year later, somebody might call you and say, Hey, I came to that seminar y'all did a while back, you know, about the self-directed IRAs.
57:53
SPEAKER_00: I'm ready to do that now.
57:55
SPEAKER_00: I need your help with it.
57:56
SPEAKER_00: And then, you know, you just had somebody call you that you uh, you know, you planted that seed years ago and now it's now it's bearing fruit.
58:03
SPEAKER_00: So it can be super, super powerful, guys, if if people would just take the initiative and and you know, take a little bit of effort to advertise for it and get it done.
58:11
SPEAKER_01: And that's that's the rub.
58:13
SPEAKER_01: Like that right there is the rub.
58:14
SPEAKER_01: I mean, so many people just they hear something, and they're like, that sounds like a great idea.
58:19
SPEAKER_01: And then they start to sit down to like implement it.
58:22
SPEAKER_01: They're like, ooh, this requires some work, some effort.
58:24
SPEAKER_01: It's more than one Facebook post.
58:26
SPEAKER_01: It's you know, there's some logistics, but man, this is such a gold mine.
58:30
SPEAKER_01: Andrew, thank you so much for for coming on the show.
58:33
SPEAKER_01: Of course.
58:34
SPEAKER_01: Um, thanks for laying this out for us.
58:36
SPEAKER_01: Uh, you know, like I'm I'm really excited to bring this to my database and and put something together.
58:42
SPEAKER_01: So we'll definitely be in touch.
58:43
SPEAKER_01: And anyone listening, Andrew Martin with uh Atlas Financial Strategies.com.
58:50
SPEAKER_01: Thank you so much, man.
58:51
SPEAKER_01: We will be in touch.
58:53
SPEAKER_00: It was a pleasure.
58:54
SPEAKER_00: Thanks for having me, Dustin.
58:55
SPEAKER_01: Absolutely.
58:56
SPEAKER_01: Such a cool topic.
58:57
SPEAKER_01: I'm definitely reaching out to a bunch of my past clients as we speak to uh to broach the subject and just to kind of plant that seed and say, hey, if you have money in your retirement account, you could actually buy real estate and have all the tax benefits that your retirement account gives you.
59:13
SPEAKER_01: You don't have to take the tax hit if you do this right.
59:15
SPEAKER_01: So I'm gonna be Andrew's gonna be hearing from me, he's gonna be hearing from my clients.
59:19
SPEAKER_01: I highly recommend you guys educate yourself on this a little bit more.
59:23
SPEAKER_01: Reach out to Andrew, his team will help, his team's awesome.
59:26
SPEAKER_01: And, you know, let your past clients know that this is an available option.
59:32
SPEAKER_01: This is not, this is not a small thing, guys.
59:34
SPEAKER_01: This is a very, very big deal.
59:36
SPEAKER_01: Okay.
59:37
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59:42
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59:46
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59:54
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59:56
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SPEAKER_01: The subscribing means that when you um whenever we come out with a new show, you don't have to remember to go listen.
1:00:42
SPEAKER_01: Like sometimes if I don't subscribe to a show that I like, uh like a month and a half later, I'm like, God damn it, now I have six shows to catch up on, and I forget.
1:00:52
SPEAKER_01: Had I just subscribed, I would have gotten a notification every time they were released.
1:00:55
SPEAKER_01: It would automatically download and it'd be there.
1:00:58
SPEAKER_01: So I wouldn't get behind on the shows that I love.
1:01:01
SPEAKER_01: So please go subscribe to on any platform you you listen to the show, subscribe to the Massive Agent Podcast.
1:01:07
SPEAKER_01: We'd appreciate it very much, and it does help us because it signals to Apple that this show is in demand and it helps us grow our audience and be seen organically in searches more.
1:01:18
SPEAKER_01: Cool.
1:01:18
SPEAKER_01: As I mentioned before, the Massive Agent Society, guys, just stop reinventing the wheel, okay?
1:01:24
SPEAKER_01: There's so many, there's so many, there's so many people winning with Facebook ads right now.
1:01:28
SPEAKER_01: There's so many people who are getting 10, 20 leads a day coming in.
1:01:34
SPEAKER_01: And it's because they just copied and pasted what we were doing.
1:01:37
SPEAKER_01: All right.
1:01:38
SPEAKER_01: It's not really you can absolutely save the money on what our program costs, but then you're gonna have to go spend more money to figure the shit out.
1:01:48
SPEAKER_01: And it's gonna take a lot longer.
1:01:49
SPEAKER_01: It's just one of those things.
1:01:50
SPEAKER_01: Like you can spend a little bit now and learn how to do it the right way and copy and paste what we've proven to work and start getting leads right now, or you can take your time.
1:01:59
SPEAKER_01: It's total and I understand both, because I've been I've been both.
1:02:04
SPEAKER_01: Massiveagentsociety.com.
1:02:06
SPEAKER_01: We also, even if you're on a budget and you just want some general real estate marketing and lead generation coaching, we do offer just the coaching option now for 99 bucks a month.
1:02:17
SPEAKER_01: So go check that out as well at Massive Agent Society.
1:02:20
SPEAKER_01: And then with that program, you're not limited to just one agent or loan officer per market.
1:02:25
SPEAKER_01: There are some markets for the full program, for the full society membership that if you're in that market, it's already sold out, unfortunately.
1:02:33
SPEAKER_01: We only allow one agent or loan officer per market with that program.
1:02:37
SPEAKER_01: With our monthly coaching only option, anyone anywhere can do it.
1:02:40
SPEAKER_01: There's no limit to it.
1:02:41
SPEAKER_01: And then you get access to our members-only Facebook group, you get access to our weekly coaching calls.
1:02:46
SPEAKER_01: I'm in there constantly engaging, our other members are in there constantly engaging.
1:02:50
SPEAKER_01: It's it's a great, great place to network with other agents and loan officers and learn.
1:02:55
SPEAKER_01: So if you're looking for real estate lead gen coaching, that's the spot if you're on a budget.
1:03:01
SPEAKER_01: Okay.
1:03:01
SPEAKER_01: Industry syndicate.com, one more time.
1:03:04
SPEAKER_01: If you don't, uh if you if you haven't checked out our other shows that we have in our network, please do.
1:03:10
SPEAKER_01: All right.
1:03:10
SPEAKER_01: This, even though I think we do a great job with this show, there's a bunch of other great shows for agents, for loan officers, for just general real estate marketing.
1:03:18
SPEAKER_01: Please go to industry syndicate.com if you haven't yet and discover our other shows.
1:03:23
SPEAKER_01: And then stay tuned because in the next couple weeks, we're unveiling our app.
1:03:27
SPEAKER_01: And we ran into a little uh little snag with the app because it has to be on Apple's App Store, right?
1:03:34
SPEAKER_01: And we found out, oh, we need this Duns and Bradstreet number, a Dunes number.
1:03:39
SPEAKER_01: So we had to go through this process to get that.
1:03:41
SPEAKER_01: We had to incorporate, we had to do all this stuff, but that is now done, and we're we're cranking along with some finishing touches.
1:03:48
SPEAKER_01: So uh stay tuned for the app.
1:03:51
SPEAKER_01: I'm telling you guys, the app's gonna change everything.
1:03:53
SPEAKER_01: That like our website's cool because it tells you which shows are in our network, but the app is gonna be really, really special, really, really cool.
1:04:01
SPEAKER_01: So stay tuned.
1:04:03
SPEAKER_01: Man, there's just a lot going on right now.
1:04:05
SPEAKER_01: Guys, I hope I hope that you take this time today as you're listening to this.
1:04:10
SPEAKER_01: I don't I don't know when you're listening, but uh there's so much opportunity right now in our industry, okay?
1:04:16
SPEAKER_01: And I know we talk about a lot of different strategies, but I need you to focus on what speaks to you.
1:04:21
SPEAKER_01: If you want to get Facebook leads and you want to focus on just building your database and then following up over time, uh similar to how I've done it in addition to my content marketing, you need to learn how to generate leads.
1:04:33
SPEAKER_01: The Massive Agent Society is great, but you can also educate yourself.
1:04:36
SPEAKER_01: That's what I did.
1:04:37
SPEAKER_01: It just took a hell of a lot longer and it cost it cost more in the long run.
1:04:41
SPEAKER_01: But I didn't have that money up front, um, or at least I thought I didn't.
1:04:46
SPEAKER_01: Um You just need to take the lead gen into your own hands.
1:04:49
SPEAKER_01: That's that's all that matters.
1:04:50
SPEAKER_01: You have to take lead gen into your own hands.
1:04:53
SPEAKER_01: You could have the most thriving business right now with referrals and past clients, and you don't have maybe you're someone who has no marketing going on.
1:05:01
SPEAKER_01: Well, guess what?
1:05:02
SPEAKER_01: As demographics change, as society changes in what we expect, um, that's gonna dry up.
1:05:08
SPEAKER_01: If you if you are a business, I don't care if you're this is not just a real estate thing.
1:05:13
SPEAKER_01: Any business that does not have new customers coming in the door on a regular basis cannot survive long term.
1:05:20
SPEAKER_01: You just can't.
1:05:20
SPEAKER_01: So if you're an agent that's relying on just referrals and you have nothing new coming in the door really, that's a problem.
1:05:27
SPEAKER_01: That's a problem.
1:05:28
SPEAKER_01: Okay, you need to work on lead generation so you have a more diversified strategy, and then you can survive whatever the hell is coming down the road.
1:05:36
SPEAKER_01: Because when Amazon gets involved in our industry, however they're gonna do it, it's like lights out.
1:05:42
SPEAKER_01: Overnight, everything changes.
1:05:43
SPEAKER_01: Zillow's doing big stuff, Compass is doing big stuff, like there's open door, ridiculous stuff.
1:05:50
SPEAKER_01: Take lead generation into your own hands so that you know how to do it.
1:05:54
SPEAKER_01: So when the cost of Zillow leads goes through the roof, you don't get priced out.
1:05:58
SPEAKER_01: Take it into your own hands.
1:06:00
SPEAKER_01: That's all.
1:06:01
SPEAKER_01: All right.
1:06:02
SPEAKER_01: So this weekend, go sell some homes, go close some loans, but ultimately make a decision to take lead generation into your own hands.
1:06:10
SPEAKER_01: Thanks for listening, guys.
1:06:11
SPEAKER_01: Take care.