One way to profit fast is to invest your money correctly. For some, it is by using their Individual Retirement Account or IRA to invest in different industries such as real estate. Today, we pick the brain of NuView’s Senior Business Development Representative Brian Martinez and find the ideal strategy for tax-free wealth.
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Brian tells us the ins and outs of solo QRP. Brian also talks about why this is one of the best ways to control your money, pick your investment, and diversify your portfolio. Brian also lays out different things you need to know about IRA and self-directed IRA, and how you can use them to build your wealth. He details different types of syndication deals versus different types of taxes, as well as the questions you need to ask. He also tells us why you need to talk to somebody that can help you think through the tax implications. Listen in!
Key Points From This Episode:
- Brian shares his focus right now in real estate and the work he does in NuView.
- Brian details everything you need to know about self-directed IRAs and their different tax implications.
- Brian talks about the different types of deals people use their IRAs to build wealth in syndication.
- The difference between 506(b) and 506(c) that investors using their IRAs need to be aware of.
- Who is eligible for a solo QRP?
- How the self-directed IRAs have affected the real estate industry?
- Brian details what are the prohibited transactions when using IRAs.
- The percentage of people in NuView who use their RIAs to invest in real estate.
- The best practices that operators have when working with investors that have IRAS as well as to custodians.
- The big mistakes that passive investors make with IRAS when investing in syndication specifically.
- Brian shares how to use tax-free methods through IRAs.
- Brian’s predictions in the real estate market over the next six to twelve months.
- The daily habits that helped Brian to achieve success.
- Brian recommends books you should read to learn about sales.
- Brian’s best source for meeting new investors right now.
- Brian shares how he likes to give back.
“The reason this plan (solo QRP) was created (was) because not enough self-employed individuals create a retirement plan for themselves, so it has a lot of catch-up contributions and on the employer side you can contribute up to a 25% match of your earned income for that calendar year.” [0:07:31]
“That (solo QRP) is one of the best ways to control your money. It’s one of the best ways to pick your own investments and diversify (your) portfolio.” [0:08:44]
“Make sure you have a go-to person that you can build that relationship with because there’s a lot of opportunities you might be missing out on.” [0:13:06]
“Pay attention to what your money is doing. Figure out other strategies in other ways, build a relationship with a good CPA that can help you build those strategies. That’s the advice I would give probably to my clients.”[0:16:01]
Links Mentioned in Today’s Episode:
About Brian Martinez
Brian Martinez is a Senior Business Development Rep with NuView helping others build their wealth using Self-Directed IRAs to purchase Real Estate since 2018. Brian has a passion to provide education for others who are like-minded investors. Brian’s focus is on building relationships with local REIAs and at Real Estate conferences across the US.
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