How to Partner your IRA with others when doing Deals

In this episode of the Directed IRA Podcast, Mark Kohler and Mat Sorensen break down the mechanics of partnering your IRA with others in deals. Whether it’s pooling funds from multiple IRAs, combining accounts within a family, or structuring investments to comply with IRS rules, they cover the do’s and don’ts of co-investing. Tune in to learn how to structure partnerships, avoid prohibited transactions, and maximize your self-directed retirement investing strategy.

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Transcript

00:00:08:12 - 00:00:29:19
Unknown
Welcome, everybody, to another episode of the directed IRA podcast. My name is Mark Colter here with Matt Sorenson. We are passionate about this topic today. This is exciting. This is where we start to really go to the next level with the potential of self directing. We've in this series have been explaining every little step along the way, and now it's time to take the top off.

00:00:30:00 - 00:00:50:16
Unknown
Yeah. Let's get crazy. Yeah, we're gonna get creative today and talk about how your IRA can partner with others in deals. Your IRA may be the cash partner in a deal and someone else is the work partner in a deal. How do we structure that? Maybe it's your IRA, your traditional IRA, your Roth IRA, your spouse's IRA, your HSA, your kids Roth IRA, your essay.

00:00:50:18 - 00:01:05:19
Unknown
Maybe I can put all those accounts, combine the funds into one LLC to do a type specific deal or transaction. So we're going to go over those rules. Kind of the options common structures we see and things you can't do. Yeah. Can I start with that. Yeah I think that's just come right out of the gate and say this.

00:01:05:21 - 00:01:36:16
Unknown
When we say partnering with others, it's not selling your LLC owned by your IRA to a family member. Yeah. It's it's coming together. I like how Matt said combining co investing. It's co investing at the front end of the deal. Yeah. If you're already in a deal with your retirement account or you're in a deal personally combining that in a structure to self-directed is nearly going to be impossible because the train's already left the station.

00:01:36:18 - 00:01:51:23
Unknown
So this is there's a little analogy of metaphor is you're in the train station now and you're buying the ticket. Who am I going to sit by? Where are we going to go? And let's get let's get on this train. This is going to be awesome. And so that's when you're having that conversation is when you're buying the train ticket.

00:01:52:01 - 00:02:07:10
Unknown
And then we're going to all aboard and go if the train has already left the station. Yeah you've seen that. It's not pretty people trying to jump on a train after I mean it can be exciting. Can be a stunt man for that. Yeah, it could be tragic. There's could be some, you know, prohibited transactions happening there at the train stop.

00:02:07:10 - 00:02:24:20
Unknown
So and that's really what we're talking about here is, you know, from the primitive transaction rules, what we've talked about. And if you haven't, make sure you go back to that episode. Self-directed IRA rules, prohibited transactions, a whole chapter in my book, lots of content. Mark and I, I've done on our YouTube on that as well. But basically, your IRA can't transact with you personally.

00:02:24:22 - 00:02:41:18
Unknown
It can't buy or sell something. So if I have an IRA that owns an LLC, 100% of the train's moving. Yeah, that train's moving now. My IRA owns 100% now, and I've already done that. I can't have my spouse's IRA come in. I can't personally come into that LLC, because now I gotta buy some of that ownership from my IRA.

00:02:42:00 - 00:03:00:20
Unknown
Now I'm transacting with my IRA. But if my IRA and myself are at the train station at the same time, or my IRA, my spouse's IRA are sitting there at the train station, we say, hey, let's go do this together. Let's get on the train together and go do this investment. And you're like, all right, my IRA will put in 50 K, my spouse's IRA puts in 50 K.

00:03:01:01 - 00:03:24:06
Unknown
Well, let's set up the LLC from the very beginning. 5050. Now that LLC can go out on the train, we're going to go do this deal that's going to take 100 K to do. And so that's a classic example of what's very common actually, is multiple IRAs coming at the very beginning. They're not transacting between each other. They're co investing at the same time taking an allocation of ownership based on the dollars they're putting in.

00:03:24:12 - 00:03:39:06
Unknown
And now we're going out to do a transaction. And sometimes you know I get clients like that. They're like hey Matt we want to do this. Buy this real estate deal for 300 K. I've got 100 K in my IRA. My spouse has 200 K. We can't do it separate. But if we go in together, we could do it.

00:03:39:06 - 00:04:00:16
Unknown
Great. One third of your IRA putting in 100 K, two thirds to your spouse. Let that LLC go and buy the property for 300. I love it. And what you're going to hear out there is a lot of misinformation. People that are like, well, you can't you can't do deals with your IRA. You can't do a deal when the train's already left the station and they don't know or they don't clarify what they're saying.

00:04:00:18 - 00:04:19:14
Unknown
And so what we do is public. We hear, oh, I can't do deals with IRA. I, my IRA can't do a deal with family or I can't do this or get well. So again, that's on day two. But we're on day one. We're planning we're coming together. And the the law, the IRS, the case, all of the the rules out here under a Rissa say this.

00:04:19:14 - 00:04:42:13
Unknown
Okay. If you're planning at OutFront of this. So I wanted to say that because you will hear disinformation that's wrong because they they're not either explaining it fully or they just don't know. And so when someone says you can't do a deal with your IRA, know that they mean a deal that's already underway. We're talking about doing deals before the deal is is embarked upon.

00:04:42:13 - 00:04:59:15
Unknown
Yeah, yeah. So you got to know what the beginning at the front end, you got to know this. Like Mark said, the train can't leave the station. And what we're talking about here at first is, how do I do this with my IRA, my family members, my spouses? IRA. Maybe it's even my traditional my Roth. How do I combine these different buckets of money?

00:04:59:15 - 00:05:17:02
Unknown
We might have to do an actual transaction. A lot of people like to co-invest and do this. Next week I want to talk about, though, is what if it's just other people? How do I use my IRA with my friend or some other investor? There's other structures to do there, and frankly, it's simpler. So we'll come to that here in a second because the rules are different.

00:05:17:05 - 00:05:45:22
Unknown
Yeah. So let's just I'll give this first piece of advice and that is kind of have in mind a plan before you start embarking on these conversations with either family or friends. Yeah, because you can look dumb. You can get twisted around, you can waste money. You could even set up entities that are in the wrong state. You might end up working with the wrong custodian or trust company that doesn't know what they're doing.

00:05:46:03 - 00:06:03:02
Unknown
So the first thing I like to encourage people when they say, oh, I want to do what? Do a deal with my my spouse has money, my kids have money. Let's do it. Let's get it for me. No, they call it the law firm and go, we need an LLC. And we're like, okay, what's the deal? Well, we don't know yet, so at least have where you kind of want to go.

00:06:03:02 - 00:06:24:01
Unknown
We do want to do real estate or we want to do crypto or we want to do notes, or we want to help. We want to I'll go in on a syndication that has a certain price point or something, and we are all accredited investors or whatever it is. So have a general plan so that when you're collaborating and bringing your people together, they they feel like there's some good leadership there.

00:06:24:01 - 00:06:45:08
Unknown
They're not nervous. It makes sense I love that. So let's go over a few examples here. I think it'd be helpful to conceptualize this in like some scenarios, because Mark just rattle off some factors to think about, and those really end up in being some of the classic examples we see. The first one we kind of mentioned a little bit earlier is maybe it's a real estate deal that's 300 K and I, I said earlier and we need assets.

00:06:45:08 - 00:07:09:11
Unknown
Maybe my Roth IRA, my traditional IRA, my IRA, my spouse. So let's combine a couple retirement accounts into an LLC to do that deal. That's very common. That's going to be called a multi-member IRA, LLC. This is a little more tricky than a single member, IRA, LLC, where your IRA owns at 100%. Okay. So when we're doing this multi-member IRA, we'll see whether it's your IRA and maybe your spouse's IRA or some other disqualified family member.

00:07:09:13 - 00:07:27:11
Unknown
We've got to go in at the same time we break up the ownership based on the dollars invested. It's going to cause a partnership tax return. It's not a single member LLC where there's no tax from the IRS. There's going to be a partnership tax return for this LLC. There's no tax due. But you do need to file a partnership tax return to 1065.

00:07:27:13 - 00:07:41:01
Unknown
And then also when money's going in and out of that LLC. And let's say it was one third, two third one, you set it up, your IRA put in 100 K to that LLC spouse's IRA put in 200 K to the LLC. Your IRA is going to own a third. Your spouse's IRA is going to own a third.

00:07:41:03 - 00:08:02:09
Unknown
Well, let's say there's $10,000 of profit. You want to get back to the IRA from the LLC. 3233 is going to yours, 6000 $666,667 and say it's going to go to your spouse's, okay, it's going to be broken down based on the dollars invested. Let's say you need to put in 10,000 more dollars to the LLC to cover an AC unit that went out you didn't expect or whatever.

00:08:02:11 - 00:08:17:13
Unknown
Well, you're going to have to fund that one third, two third, your IRA would put in 3300 bucks, you know, spouse sorry to put in the six 600 and change. Okay. So anything going into that I will see you. Now that ownership's fixed it's got to go in based on the ownership percentage. It's got to go out based on it.

00:08:17:13 - 00:08:33:22
Unknown
Okay. So that's sometimes a downside. So I don't want you to think of this is technically a thing I'm going to put money in every year. It's going to come out every year. Most people and the first example I gave there are saying, hey, let's get the money in there. We need. Let's go make the investment. Let's make sure there's enough in there.

00:08:33:22 - 00:08:49:00
Unknown
So we need to put more money in later. Let's let that thing cash flow. Appreciate. Maybe there's some income coming to the LLC. Let's go make a new investment from the LLC. You can go buy a new asset. Okay. Or maybe we send it down to the IRAs if we want to do other things with them at the IRA level, that's certainly possible too.

00:08:49:01 - 00:09:11:13
Unknown
So that's option one. I like it now. Great concept. Now I'll put real one other real example. I'm in week two of this right now. I actually turned on my computer and didn't plan on talking about this, but a Red Angus, heifer came up on my computer screen. Yeah, I was showing some family last night. This is what my cows are going to look like in my health savings account.

00:09:11:15 - 00:09:32:00
Unknown
All right, so about two weeks ago, Patty and her like meeting with a rancher in Heber City, Utah, that said, hey, if you buy some cows, I can put them on my land and I'll take care of them and graze them. And next year, you can sell the calves that grow, that are born this year. And then we'll start the process over, rinse and repeat.

00:09:32:00 - 00:09:48:12
Unknown
You know, the injury order. We won't get into the cattle operation, but it was kind of fun. We're like, all right. And so we thought about it and we had our health savings accounts with enough money that if we combine them yeah, we could pull this off. And so I'm sorry I pulled up this Red Angus picture here.

00:09:48:14 - 00:10:07:17
Unknown
And then I also was going to pull up the LLC right here. So I just so two weeks ago we cut the deal. We had a plan. The ranchers like okay, you're going to buy ten bred heifers which would cost about $3,000, a cow that's already pregnant. And in the next month, they're going to give birth to ten calves.

00:10:07:17 - 00:10:23:13
Unknown
So you're going to have 20 cows at the end of the process. So we put together a budget of how much to buy these. That's $30,000. Then we need operational costs to get us through the year. And with combining our two horses. So you don't have to have thousands of thousands of dollars through this. This was fun for us.

00:10:23:15 - 00:10:42:01
Unknown
And I'll show you the business plan here real quick too. But by the time we combine our money, mine I'm looking at right here had 77% in units, okay? And Patty had 23% is where it was pro-rata between the money we put into it. And we formed the LLC in this state where we're doing business. So the LLC is up and going.

00:10:42:05 - 00:11:01:02
Unknown
Meanwhile, I called up, directed IRA, and said, hey, I need to have my HSA liquid because we're going to go invest in this LLC. And they're like, okay, so simultaneously, this is the important point. Find the account you want to use. You got your plan. Make sure it's ready to go with the cash, your partner, your spouse, whoever you're going to get to partner with you.

00:11:01:04 - 00:11:19:17
Unknown
They're pooling their money. Get them directed IRA. Get them on the chat. Call whatever. Open the right account. Listen to the last, you know, 2 or 3 podcasts here in the train, and that'll teach you how to do that. Meanwhile, you're getting your LLC going, be working on both of these at the same time. Now, I just got my bank packet yesterday.

00:11:19:19 - 00:11:38:01
Unknown
So we are opening an LLC and then direct. An IRA is going to transfer the money over for the two accounts into this LLC. And I was just going to show you. So my business plan, I actually did a real business plan as well I like this. Did you like this. So 30,000 to go out. We think it's going to be about 12 grand to maintain these cows throughout the year.

00:11:38:01 - 00:12:02:22
Unknown
I did put in a worst case scenario 18 grand. Now cows right now this is, you know, make America healthy again. You know, grass fed beef whatever. These cows are going to weigh between 800 and 1000 pounds next March. They're selling for about 2500 bucks. So if I don't have any cow die on me, you know, I'll have ten cows to sell one year from now and I'll have pregnant cows again.

00:12:03:00 - 00:12:26:18
Unknown
So those ten cows should sell for about $25,000. Now it cost me 12 to 18,000 to maintain them during the year. I still have my original moms that are pregnant again, so now I'm at a profit margin. Worst case scenario of about seven grand, seven grand divided by original investment of 30. I'm going a 23% ROI, 23% worst case scenario.

00:12:26:22 - 00:12:45:21
Unknown
And I've got some other ideas here. They're going to be fine. I'm going to pre-sell the cows to my followers that want a cow in advance, pre bred that I'm going to like have a, a webcam during roundup and during the year they can come out and pet their cow if they want. And the next year they get grass fed beef in their freezer all year round.

00:12:45:23 - 00:13:04:08
Unknown
Bam! That's an extra rev man. It's going to be good for you. Add value added. Value add. But I've got my business plan. We pulled our money, we're opening the bank account and we're going to auction in about two weeks okay. So but but I'd say I know we've joked about me owning cows in my HSA before I'm doing it again round two.

00:13:04:10 - 00:13:24:21
Unknown
And if I can make a 20 to 30% return, Holy crap. This is why we do this and we pull our money together. And it's exciting. It's not that complicated. Some of you were doing this with several hundred grand, several million or several 10,000. Whatever. Do what you love. Yeah, and this is what Self-tracking is all about. You get to choose the investments.

00:13:24:23 - 00:13:40:16
Unknown
Now, real estate is going to be the most common, right. And there's other assets that keep me crypto, you know, so these are the types of things you can do. The concept for today of course, is how are you partnering? Mark and Patty are partnering their HSAs. This could be their Roth IRA. Their traditional IRA doesn't matter.

00:13:40:16 - 00:13:58:05
Unknown
But we're combining multiple accounts. We break up the ownership. You go in at the same time. Okay. And, then when these cows sell to that LLC that you've got, Mark can keep doing that, that also you can keep doing the next deal. Right. And it can keep getting that 20% ROI or whatever he hopes to get. So that's what this is about.

00:13:58:11 - 00:14:19:06
Unknown
And that's a great example right there. Let's talk about the second example that I see. That's common non-family. I'm still say with family. Oh yeah. This second one I see a lot that I like is hey Matt, I've got 50,000 in my Roth IRA. My spouse has 50,000 in theirs. We want to go in 5050 into an LLC.

00:14:19:06 - 00:14:36:12
Unknown
And then every year we want to be dropping in our 70 a year and in the LLC as well. Or maybe it's brand new for Roth IRA accounts. It's mine. My spouse is two of my kids. They got kids, Ross. They got income, and we're going to be dropping in seven k year and reach 25% in that LLC.

00:14:36:14 - 00:14:55:19
Unknown
So I do see sometimes families or spouses where they go in at the same amount because they want to do the annual contribution and get it into the LLC. Now, if you're doing that, I wanted to go over a couple of things. One is, that could be a great strategy. Sometimes I'm like, just do your own investments, do your own IRAs, LLC.

00:14:55:19 - 00:15:14:22
Unknown
100% have your spouse do their own. You can do your separate investments anyways. Some people like, no, we want to go in together. We don't have enough money to do the deals we want to do, but if we combine, it's going to be much more easier, better deals, better opportunities. So when you're doing that annual contribution each year, two things you got to remember.

00:15:14:22 - 00:15:34:16
Unknown
One, you go in based on dollars invested. So let's say if you're 5050, you each need to put in the exact amount. If you each 25% again equal ownership, everyone's putting in the same amount to keep their equal ownership. And 7000 is the annual contribution. Now, if someone's over 50 and someone's not, they can't do the 8000 the other person does seven.

00:15:34:18 - 00:15:54:01
Unknown
The other thing is you don't put the money in the LLC. You don't own the LLC, the IRA does. You make contributions to the IRA and a directed IRA. You tell us. All right. Now put the additional money is an additional investment into the LLC. So just make sure that sometimes a common mistake people like, well, I just put money in the LLC.

00:15:54:03 - 00:16:09:14
Unknown
You don't own it. Your IRA does. Well, it's my contribution. What? Your LLC is not tracking that. Are you reporting from your LLC to the IRS? Your annual contributions to your IRA? No you're not. You've got to go through the IRA custodian. So make sure you get the money to the IRA. And then the money goes from the IRA, LLC.

00:16:09:16 - 00:16:27:10
Unknown
Same thing. When you take money from the LLC, you don't take money from the LLC. You don't own. It goes back to the IRAs based on their percentage of ownership. And then you could take a distribution from the IRA, which is, of course, something you do later on in retirement. Yeah. You've got me doing math over here because I'm like, all right, what's my projected HSA contribution?

00:16:27:10 - 00:16:45:23
Unknown
And I have 77% ownership. So practically Patti and I are not equal. But it's okay. You could you'd have to put in more. And she could only put in less because she could only take 23 if she if she put in, you know, 5000 and you put in 5000, that's going to adjust the ownership because she's going to be putting in more than her.

00:16:45:23 - 00:17:06:17
Unknown
23% of the LLC and Marc's HSA would have been putting enough, which means that the ownership would have to adjust, or there's going to be an imbalance which causes this prohibited transaction issue. So she could put in next year 23%, a 5400, which would be her single contribution limit and vice versa when you're over age 50. Sorry everybody.

00:17:06:19 - 00:17:25:08
Unknown
You want to have separate HSAs because you both get a thousand. If you do a family HSA, you only get a thousand, combined combined. So you want that's strategic for us. But anyway, so that's good I like that. That's a great little tip snuck in there, by the way. No. So now I'm going to throw this out to let's go to the non-family.

00:17:25:10 - 00:17:46:22
Unknown
I think with the non family it opens up another option. And that's where you have service partners. Yeah. Which gets really exciting. So in our situation with Patty and these cows sticking with that example we can't go work on the cows. We can't eat the cows. We can't we could go pet them maybe. But we can work on the ranch with our HSA cows.

00:17:46:22 - 00:18:06:20
Unknown
That would be prohibited. Now, we might buy cows from this rancher. They're very similar down the road, yada yada. But the point is, our HSA cows have to be sold to someone else and managed day to day by someone else. Well, let's say the ranchers like, hey, I love what you're doing here, guys. Bring me in for a third and I won't charge you anything.

00:18:06:22 - 00:18:23:06
Unknown
I want to share in the profit by a third. And now you can cut down on your operational cost, and I'll just be a working partner. You guys pay for the cows. I'll find the land. I'll pay, you know. I'll pay for the vet. I'll do everything throughout the year. And you know what? You guys will make more.

00:18:23:12 - 00:18:45:07
Unknown
And I'm excited because I want to be a part of the process. I think we could do more because I'm going to be more vested in this whatever. And it could be a real estate deal. You know, someone that's like, hey, I'll do the fix and flip labor. You guys pay for the house with your retirement accounts. And again, it allows you to maybe get in a bigger deal because you don't you didn't have enough money to capitalize the whole deal without having to pay for someone to work it.

00:18:45:10 - 00:19:03:17
Unknown
Now you get the worker for free because are earning equity on it. So but you can't do that with family so that this opens up this whole new door that you can still work with family on the co investing, but the labor has to be a non prohibited party. And again another aspect that could be a really big win win win.

00:19:03:23 - 00:19:20:16
Unknown
Yeah. We see a lot of these LLCs. We I had a client that was doing these in California as a lawyer. He would he took 50% of the LLC. He'd go buy a fix and flip property. He'd bring in IRAs that were the cash partner that did the other 50%. And they sometimes it's just one that took that whole 50%.

00:19:20:16 - 00:19:37:12
Unknown
Or is a couple of them that took that ownership of the other 50% allocated for the cash partners, and they got their percentage based on how much dollars they put in for that 50%. Then they go do the deal. They get their money back. Then they split the profits based on their percentage. And he probably did 30 or 40 of those LLCs.

00:19:37:12 - 00:19:54:04
Unknown
And he still has many of those because they sell the property after he flips them in there. In California, it takes a lot of capital to acquire and do those deals and then it goes and does another one. Right. And so you can be the cash partner in those scenarios with your IRA, with someone else who's the work partner that's doing the deal, that's getting allocation.

00:19:54:04 - 00:20:11:06
Unknown
And it doesn't need to be 5050. It could be they're getting 10% for the work or 20%, frankly. It's whatever you negotiate what the deal is. Or it could be the business opportunity. Your IRA could be the cash money partner in a business opportunity. For example, what is other people getting ownership for doing the work and actually operating the business?

00:20:11:06 - 00:20:28:16
Unknown
So a lot less restrictions there because it's just other third parties. And by the way, that can't be your son that you're doing this with, with your IRA or your daughter that's starting a new business or that's going to go do the real estate deal, they can't get an allocation for services or work because they're just qualified to your IRA.

00:20:28:19 - 00:20:51:09
Unknown
This is shifting value of your IRA to them. There it is. Qualified person should be the same thing. Even with you personally. You can't be the work partner in an LLC. Now, one other like variation of this though is you can be a cash partner personally in an LLC with your IRA. So you could say, well, I've got 100 card personal cash and, you know, 50 K in my IRA.

00:20:51:14 - 00:21:11:10
Unknown
I'll take two thirds of an LLC and my IRA gets one third or 5050 or 80, 20, whatever it is. But we can do that as well. Where your IRA is a cash partner with you, because we're breaking up ownership and value solely based on dollars. There's no unfair benefit going one way or the other. We're strictly doing it on the cash, but you can't get ownership for just doing work or finding the deal person.

00:21:11:10 - 00:21:45:03
Unknown
Yeah, I want to repeat that because that was a big reveal here in this this podcast is yes, you heard it right. Let's say it's Patty. And either are doing this again. The cows my HSA puts in money. Her HSA puts in money. I put it in money after tax. Personal money. She puts in personal money. Now we have four partners, but we raised twice as much money now we wanted to do the whole deal in our HSA is because we wanted this profit to go back to the excess and buying more than ten cows, ultimately 20 here in the next month or two.

00:21:45:05 - 00:22:08:09
Unknown
That's a little that's a that's a big project for us. So we'll see how it goes next year. But we could close down the LLC and start fresh and that could work too. But the point is you can put in money, not labor, and still be a partner in that LLC. Last point I make here is bring this maybe full circle is this is not one to be embarked upon lightly.

00:22:08:11 - 00:22:34:02
Unknown
This is not you playing around with your software creating the LLC. Get your partners that you want to work with on a call, all together with one of the tax lawyers. We would represent the entire group. You don't need competing lawyers and expensive partnership agreements and all that crap. It's one LLC, one tax lawyer. Bring it everybody together on a zoom call in answering their questions.

00:22:34:06 - 00:22:51:11
Unknown
You look like a superhero because you were smart enough not to play lawyer on TV. Yeah. So you get there, bring the team together. The lawyer will lay it out on a red carpet, but boom, you're in business. Before you know it, you start trying to play lawyer. You're going to f it up. Yeah. And our attorneys at Calculus Lawyers do this every day.

00:22:51:11 - 00:23:04:23
Unknown
They've got all the reps and they've been trained by Marc and I. They all know what you can do and can't do. How to structure this properly. We got the right operating agreement that's got the right provisions in here. Whether using directed IRA or any other company. You got to make sure that it's got the right provisions in there.

00:23:04:23 - 00:23:21:01
Unknown
And so we've of course, got a team here that knows how to do this. You can take care of it. There's other lawyers, other professionals that could certainly help you. And feel free to use those. Make sure they know what they're doing. But we're certainly a resource in the in the multi-member IRA. Let's see. We charge 1500 bucks at our law firm plus the state filing fees.

00:23:21:03 - 00:23:38:00
Unknown
And then, of course, you got the IRA account costs, too, depending on how many accounts you might have, there'll be an annual fee, for those accounts. So, and that's frankly a steal, $1,500 for a multi-member LLC. You can go to big city firms. They can't even get their head around this without saying that's going to be 3 or 5 grand.

00:23:38:00 - 00:23:52:14
Unknown
And oh my gosh, we got to find out if you can do this. Yeah. You'll you'll pay at least twice as much at some other place. And so so it might sound as if you've never used a lawyer before. That might sound a little bit high, but that's, you know, anyway, we're not getting into. I feel like I gotta sell you on it.

00:23:52:14 - 00:24:07:12
Unknown
It's like if you want to do it, it's going to take you a little bit of money. If you're like, guys, I don't want to do all that. That seems a little complicated. Let me just do other self-directed investments. I'm not going to partner with my family or anything. That's much simpler. That's a lot easier, less expensive. You may not even need to talk to a lawyer, CPA.

00:24:07:12 - 00:24:23:02
Unknown
Okay. You're investing in a private company or a private fund or syndication or even crypto. You don't need all that professional help necessarily. You might have questions and you might want to engage that. But when you're coming over here, we're going to say it's likely you're going to need to talk to a lawyer and almost certain to get it done.

00:24:23:02 - 00:24:40:05
Unknown
Right, because, but, you know, you might use a structure for ten, 20 years and it can be the same freakin structure. And so this might have a little upfront cost, but over time, it'll be a valuable structure you're going to be using to investing in the assets. You know, combining these different accounts of resources, you might have to have greater opportunities and possibilities.

00:24:40:05 - 00:25:04:01
Unknown
So it could be a really huge benefit for you. Well thanks, everybody. We hope that we are unlocking your American dream. This is an exciting, exciting, time where the retirement accounts are more unlocked, more clarity on what you can and can't do than ever before. And the theme, our slogan has always been invest in what you know and we want to help you do that.

00:25:04:01 - 00:25:25:08
Unknown
So this is a great way to pool money, get more capital, get more, create creative and get people in the in the project that you need, whether it's service or their money. So we wish you the best. We hope that our information is super helpful. We're not going anywhere. We'll be here again next week talking about real strategies and self directing.

00:25:25:08 - 00:25:48:21
Unknown
And we have an entire team, at the company that can help you at any moment. So thanks everyone, and we'll see you next week. And thank you, everyone for listening. A quick disclaimer and reminder this presentation does not constitute an attorney or CPA client relationship, and it is always in your best interest to consult competent legal and tax professionals when conducting your own personal transactions.

00:25:48:23 - 00:26:11:19
Unknown
We also want to make sure you know this is not investment advice or financial advice. We're just trying to give you education, ideas and strategies you can take to your professionals or conduct your own research on. We'll see you next time. We've had enough of the time.