Did you know you could use your IRA to invest in multifamily apartment buildings? Do your potential investors? Can you explain it to them in a simple way so that they say YES to investing their IRA money in your deals? In this episode I interview John Bowens who is a national speaker and educator for Equity Trust Company, one of the largest self-directed IRA custodians. John's a pro about teaching how to invest in real estate using your IRA. Here's what we cover:
- In what can you invest with your IRA?
- What types of self-directed accounts are available? What's the difference between Roth and Traditional IRAs?
- What are the main benefits of investing with IRAs?
- John talks about commercial real estate deals some of his customers have funded using IRAs.
- What can and can't you do with IRAs?
- If an investor wanted to invest with his IRA, what is the process from start to finish (until the money is wired to closing?)
- Then John talks about advanced IRA topics, like opening accounts for your children and something called “legacy IRA investing” which allows you to open accounts for your parents.
It's really amazing what you can do with IRA money. And if you can explain it to your potential investors in ways they can understand and be comfortable with, you can unlock an incredible amount of capital that is otherwise earning very little for most people. Becoming an expert in IRA investing is a MUST-HAVE tool in your investing tool box!
Connect with John Bowens
To connect with John, email him at j.bowens at trustetc dot com or call him at the office 855.499.1648 – he'd love to hear from you! He also added that you can find a lot of free resources on his company's web site at www.trustetc.com and by searching Equity Trust Company's YouTube channel. Or, leave a comment for John below!
What questions do you have for John?
Does it have to be an IRA? Does this work with a defined benefit plan, 401K, or profit sharing plan?
Hi Dori … I’m not 100% sure about this. But I think you can do it with a 401K that is from a previous employer. You can roll that over to a self-directed IRA. It would be a good idea to call a self-directed IRA custodian like Equity Trust Company and ask them. If you’re looking for specific advice for your situation, I can refer you to an awesome tax attorney who specializes with IRA real estate investing. Hope that helps!
Thank you. Yes if you could send that reference I would appreciate it.
Hi Dori – email John Hyre at johnhyre at ameritech dot net and let him know I referred you. I’ve known him for years, he is an expert in tax law (specifically related to IRAs), and he’s hysterical to listen to. He has a new IRA investing product out that is excellent, and he may suggest that you attend his next event in April depending on what your needs are. Reach out to him, and please let me know how it went. Hope this helps …
Thanks! I will.