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Directed IRA Podcast
A show dedicated to educating and informing self-directed IRA and 401(k) investors on strategies, investments, legal structures, tax rules, and pitfalls. Hosted by tax lawyers Mat Sorensen and Mark Kohler who are also co-founders of Directed IRA & Directed Trust Company (https://directedira.com) where they have provided self-directed accounts for thousands of customers. They cover and discuss Roth IRAs, solo(k)s, prohibited transactions, real estate, start-ups, notes, PPMs, PE/VC Funds, UBIT/UDFI, IRA/LLCs (aka, checkbook IRAs), and share examples and stories from their thousands of clients who have self-directed their retirement for decades.
Directed IRA Podcast
5 Creative Real Estate Investment Strategies with Your IRA - (We Bet You’ve Never Heard Before)
Visit altassetsummit.com to learn how to invest in Alternative Assets.
(More links down below.)
In this episode of the Directed IRA Podcast, attorneys Mat Sorensen and Mark J. Kohler dive into five creative ways to buy real estate with your self-directed IRA. Beyond the traditional “pay cash” approach, they explore strategies like seller financing, non-recourse bank loans, subject-to deals, wholesaling, private lending, and even the Roth Dream Home Takeover (a little-known method to lock down your future retirement home tax-free).
They share real client examples, key compliance rules (like avoiding personal guarantees), and why pairing these strategies with a Roth IRA can supercharge compounding and keep more returns in your pocket. Whether you’re a seasoned investor or just discovering the power of self-directing, this episode will open your eyes to opportunities you may not have known existed.
Chapters:
00:00 - Introduction to IRA Real Estate Strategies
03:16 - Creative Financing Through Self-Directed IRAs
06:53 - Wholesaling Properties With Your IRA
09:25 - Becoming the Lender With Your IRA
13:00 - The Roth Dream Home Takeover
18:54 - Partnering Strategies and Tax Liens
23:48 - Alt Asset Summit Invitation
Directed IRA Homepage: https://directedira.com/
Directed IRA Explore (Linktree): https://linktr.ee/SelfDirectedIRA
Book a Call: https://directedira.com/appointment/
Other:
Mat Sorensen: https://matsorensen.com & https://linktr.ee/MatSorensen
KKOS: https://kkoslawyers.com
Main Street Business https://mainstreetbusiness.com
Welcome to the Directed IRA Podcast. My name is Mark Kohler. I'm here with the amazing Matt Sorenson on a topic today that I just think is super powerful and many of you may have not heard of these strategies. Five creative real estate I don't know. Acquisition strategies what do you call them?
Speaker 2:Yeah, I think there's just five strategies you should be using with an IRA when you're investing in real estate. Some of you might be like your IRA can own real estate. Yeah, and we're going to talk about some common ways. We've seen clients structure deals to acquire properties that you probably haven't even thought of. Yeah, and I think many of us.
Speaker 1:When you grow up I did, and it's like you're going to buy real estate. You walk down to the bank, you get a mortgage, you buy a house. You know it's just like. That's how it works, oh my gosh. Well, stay up late night and watch Plastic Magic on TV and all these creative acquisition strategies that people use to buy real estate. Well, many of them you can use in your self-directed IRA. How can I take my self-directed IRA and make money in real estate? Well, we're going to share five strategies with you today. I think it's going to be a lot of fun, but we got to get off the table first. Asset classes are not strategies.
Speaker 2:Yeah, yeah, like a buy and hold. Long-term rental is not a strategy. That's an asset. You're owning this property buy and hold. But we want to talk about the acquisition strategy to get that property, maybe, or some of the deals you can do around it, from your IRA. So that's first, and that's even like the first deal I ever did with my own retirement account, which is buying, a buy and hold rental.
Speaker 1:Yeah, I love it, so some of these, I'll just write off a few short-term rental rental yeah, I love it, so some of these, I'll just rat off a few Short-term rental. Long-term rental storage units, commercial property, water rights, fix and flips. Fix and flip. Those are acquisitions in the real estate lane but they're not the strategy to get that asset, and that's oftentimes the hurdle. We see something we want, we just don't know how to get it.
Speaker 2:Let me explain what we're talking about here. We say the acquisition strategy is well, I just have, you know, 300 grand in my account, in my IRA account, and I'm going to buy a $300,000 property. Okay, your acquisition strategy is just to use the cash in your account to go buy that, which is one strategy and that's cool. It's not a creative one. We're going to hit some creative ones Now. We've had there's probably a client every hour to doing a deal with that, with their IRA, in that way, in cash, which is fine. But we want to go over some creative strategies that many of you might've thought oh, I can't use my IRA for that Cause you weren't thinking of the creative strategies in real estate.
Speaker 1:Okay, well, I like let's kick it off with that as our kickoff. So if you're going to buy that $300,000 property with cash, all right, that's cool. Not too creative. There's pros and cons to that methodology, but a creative strategy would be I'm going to buy two properties of 300 grand each and I'm going to get, let's say, seller financing. I'm going to put down 150,000 and have the seller carry the paper on the $150,000. And now I can buy two properties, still cash flow, get a better ROI in the long run and have more leverage for more equity build, and that's creative.
Speaker 2:I love that. That was a great example right out of the gate. And let's say that the seller won't negotiate seller financing. Well, what can you do? You can get a new bank loan, even all right, there are non-recourse lenders that will lend your IRA money to buy real estate, particularly on a buy and hold property. I've done that. That was the first deal I did. I just had a bank lend me money on that property.
Speaker 1:Well, that's funny, because the first one I did was a seller finance, yeah, and the first one you did was more of a bank a non-recourse loan bank, yeah, so, um, now there's rules on this.
Speaker 2:Of course, when you're getting debt, whether it's seller financing, you're getting a new loan, you can't personally guarantee the debt and we've got a lot of other podcasts and videos about self-directed IRA rules and prohibited transactions. But just know that's a rule Whenever you're getting debt on a deal, whether it's seller financing or a new loan, don't personally guarantee it. Okay, that'll violate the rules.
Speaker 1:Yeah, now, staying in the same genre of financing, there's also a third option and that's buying a property subject to. I'm not going to ask the seller for financing, I'm not going to go get a new non-recourse loan when we have lenders lined up for you to choose from if you'd like, but there may already be a loan on the property and the seller's like I got to get out of this thing. If you'll just assume the current mortgage and it's got to be that non-recourse format, you can't go sign on it personally, but there might be a property with lending already on it and you can buy the property subject to that loan, and that's another way to get your IRA in a deal when it may not have enough money due to cash flow.
Speaker 2:Yeah, and this is when we've seen a lot of clients get into with a lot of hardly any money down because they could be putting maybe 5,000, $10,000 down. Maybe there's some improvement costs or some things that need to improve the property before it's rent ready, but they're coming out of pocket a lot less. So some people might be doing a deal for $25,000 or less where they're acquiring the property subject to. Another thing we've seen on some of these, and an incentive for this in acquiring the property subject to, is a lot of people are trying to sell a home and they got some value. They can't get out of it, but it's got an incredible rate on it.
Speaker 2:It's at a two and a half or 3% mortgage rate and being able to acquire that property subject to that mortgage makes it a very valuable property in terms of a rental, because now your costs to hold it are very low. You can get better cashflow on it. So this is one where we've seen a lot of savvy real estate investors use it. Of course, you can use the subject to strategy outside of a retirement account, but also you can use it with your IRA. Go buy that deal, get that property. It takes probably a little bit of money down, maybe some money to improve it, but you just take over the existing mortgage. It's called a subject to strategy.
Speaker 1:Well, I love it. Now. I I just as an aside, I don't want to be offensive today, but you look a little stuffy. I I brought a little party. You know, after 12, you go two buttons down, you know, did you?
Speaker 2:did you bust that button or is it just optional? That was, that. Was, that was intentionally.
Speaker 1:Yeah, I was watching John Travolta last night late old show and I just I think we need to bring this back. You know, just let's let that second button go.
Speaker 2:Mark's a married man, so you know.
Speaker 1:Patty, just you know, she, you know she's like show a little skin bro.
Speaker 2:Yeah, you got it.
Speaker 1:If you've got a convertible drive at the top down, exactly. I mean, it's just the way it works, yeah, so all right. So okay, number two I'm trying to keep you interested in a typically a very boring topic. But no, we bring it with some. This is dinner and a show people. Okay, number two.
Speaker 1:Now these are creative strategies in the real estate industry to make money with your IRA. One of them is wholesaling. It's that same $300,000 property but you only have $30,000 in your IRA and you're like, man, that is an awesome property, 300 grand. I can't buy it with cash. I don't have enough money to get lending. I'm going to just tie it up. I'm going to make an offer that I'm going to buy it for 300 grand with a $30,000 down earnest money agreement. But I can assign the contract because I think it's worth 350 and I can go shop it and sell that. Maybe make sure your earnest money is refundable if you can't shop it in time. But that's called wholesaling, where I'm going to tie up a property and pretty much flip the contract or the opportunity to buy it for 300. We've had clients make hundreds of thousands of dollars.
Speaker 2:Yeah, and it could even be a $5,000 amount that you do need to pay something from the IRA to tie it up, right, there's some legalities to that. But now, if that property is worth 330 and there's other investors that would want to buy it, if you're able to find the deals and this is where, again, if real estate's what you know, and some of you already in do wholesaling by the way, I know some of you already do wholesaling. They're listening to this. They're like guys, I know the strategy. You didn't explain it very well. I'm like, yeah, but do it with your IRA. Why would I do that with my IRA? Well, let's do a Roth IRA. Okay, let's say your Roth IRA puts five grand down on this wholesaling deal and let's say you make 20 grand on that. That 20 grand goes back into your Roth IRA, no tax and coming out totally tax-free at retirement.
Speaker 2:If you do that wholesaling deal outside your IRA, it's going on your 1040, ordinary income, all right, it's going to be your regular rates plus state tax. So a lot of times these strategies, if you couple it with the self-directed retirement account, it becomes a really good tax play. Oh, you put it on steroids, yeah, and wholesaling would be one. You know there's another version of wholesaling that is like real estate developers use, which are options where they'll get land under option contracts, do some pre-development work and then they'll sell it for a big premium. We've had clients make over a million dollars selling options with their Roth IRA where that value that they can create on it, either through a hold period or some paper development type stuff, can have a million dollar plus return back into the Roth IRA, no tax. Now you could have done that option deal outside of your retirement account but you would have paid Uncle Sam and your state. You know these silent partners that want a piece, you know. But if you want to keep it all, I'm just saying, use the Roth IRA.
Speaker 1:I love it. All right, that's strategy two. Do you want to throw down?
Speaker 2:three, yeah, I like three. This is what I do the most, and this is being the lender on deals. So think of yourself as the hard money lender the bank, you know, the mob, whoever you know. When someone needs money, your retirement account can fund that, you know.
Speaker 1:Yeah, we're promoting mob strategies here, so I think it's an exorbitant interest. I know Matt.
Speaker 2:Every good mafia movie you know with the mob has somebody that lent money and they got behind and someone's getting their knee broken.
Speaker 1:That's part of every mob.
Speaker 2:Show you're right I'm just trying to relate, you know.
Speaker 1:Yeah, yeah so and this is again a very common strategy in the in real estate industry, but people don't realize my ira could be doing that same deal and if you're doing 12 and 2 for some of you that are in the business know that that's a 12% annual interest rate and two points and if you can flip that loan twice a year, doing short-term loans for real estate developers or-.
Speaker 2:Flippers or any real estate investor that needs capital. I mean, that's what I'm doing right now, and I know you guys have done some private money lending too. It's just a good way to get a good return on your retirement account right. If I'm getting 12% plus two points on six-month loans, I get the two points twice a year. That's four plus 12. That's 16% annual rate of return. Now you get a lien on the property right First trustee. Turn Now you get a lien on the property right First trustee. Right First trustee. You might be in second If there's enough equity in the deal. You want to be careful Don't do bad loans to people that don't know what they're doing or properties that don't have equity right. So, but that's a great strategy where you can access deals but you don't have to run the deal. You don't have to be like the person that goes that, finds that wholesale deal or that option property that negotiates that subject to or seller financing deal, and so this is a little more of a passive play, but it's creative in the sense that you're using your retirement account and I had one.
Speaker 2:I remember I talked to one client. He's got a seven figure plus account, and when he heard about real estate investing. He was a real estate investor. He was like he just got so hung up on all the tax things. He's like I don't want to own real estate. He's like I'm just going to do private lending and I remember him talking about that because he did private lending personally. And he's like Matt when I lend money private, it's interest income to me.
Speaker 2:I'm at a 30% federal tax bracket. I'm at like 8% in my state. When I make a hundred thousand dollars on lending my personal money, I really only made $55,000 because of my federal and state taxes that eat up into that. Once I learned I could do this with my retirement account and I make a hundred grand in interest, I kept a hundred grand and he's like it's been insane the amount of compounding growth. If I look at my bucket of money that I lent, that I've always been lending for and I've been lending on a longer period of time but on my taxable money that hits my 1040 versus my bucket of money in my retirement account that I lent out and he has a Roth that I get to keep every penny he's like it's insane how much this one has compounded more of the last 15 years.
Speaker 2:Yeah.
Speaker 1:Yeah, he had me at Roth, thank you.
Speaker 2:You're welcome.
Speaker 1:Yeah, don't say another word. Okay, renee Zegler. Okay, now number four, and this is one of a strategy I've had several clients do throughout my career. I've seen it. I would like to see it more. I think it's a really cool strategy. I can guarantee nine out of 10 of you listeners have not heard of this strategy, and I call it the Roth dream home takeover. All right, now what this is about. We had a couple I love your branding.
Speaker 2:You're like branding. Are you going to trademark that? Damn straight.
Speaker 1:Not to be used without the express written consent of Mark J Kohler and the NFL. Okay, so now on this takeover. Okay, and let me throw this out. I'll tell you the strategy and then a little story. It is looking down the road five to 10 years and saying that's where I want to live, that's where I want my dream home. I'm going to retire at 59 and a half later and I want to be in Boca Raton, I want to be in Aspen, I want to be in this beautiful area. But, holy crap, 10 years from now, anything I want now is going to be twice as much then. And how am I going to afford it? It's not going to happen.
Speaker 1:And so you have this dream location, this dream property that you want to be at when you retire. How you get there? Well, I've had several clients find that property now, when a deal comes, because they can't move now. But the opportunity comes. So they're ready and they buy the property in their Roth IRA with maybe the subject to strategy, the seller financing strategy, the non-recourse loan strategy, whatever. But they find this property and they buy in the name of their Roth IRA. Okay, can you move into it right now? No, that would be a prohibited transaction. You can't live in your IRA's property. But they buy it now and then they take all the cashflow from that. They short-term rental it, they long-term rental it. They know they're going to be there someday and they want to do a rehab. They're so excited when they could go in and put in their own furniture and paint new carpet. But for now it's just going to be a rental property. But it's the place they want to be and they let the Roth IRA own it and take all the cashflow and pay off that mortgage as fast as they can.
Speaker 1:59 and a half comes along, 60, 62, whatever. And that time comes to load up the U-Haul and go you can call it directed IRA and go. Will? You just deed me that property Tax-free, no tax at all. All the equity growth, all that cashflow paying down the mortgage, any equity in that, the Roth IRA value itself goes to you tax-free, no penalty, nothing. And if there's still a mortgage on it, fine, pick up the mortgage. You can go in and rehab it, make it a fresh for you. So you're locking down in advance the property you want to live in down the road and letting your Roth IRA hold it for you and you're going to take it over when the time's right.
Speaker 2:I love it. Now, pen drop yeah, I love that. That's as you explained it right. There is the way to do it. Now keep in mind when that asset is coming out after 59 and a half, there's a reason. Mark said that that's when you can take money out of your Roth IRA or assets tax-free. So here we're not selling the property and taking cash out. You want to use the property. You like the property. That was the reason you bought it. That was one of the vision you had in the future. So what we do is we get an appraisal of the property to set the value and then that value is distributed out to you. Now the key thing Mark used was a Roth IRA, because when we're distributing that Roth IRA asset out to you, there's no tax on it. But I'll give you an example. I had a client who called me up and he had bought this property. It was in Florida. I don't remember where. It was, not Del Boca Vista, it wasn't.
Speaker 2:It was not, but Morty Seinfeld wasn't involved or anywhere. It's a little Cadillac, it's a golf cart, okay, but he did buy. I remember when he told me he said I bought this in my IRA and he's wanted to move into it. And he said I bought this in this area because I had stayed there with friends that had a place in the same place and my wife and I fell in love with it. We saw the real estate going off the charts here. We thought let's go buy one, let's lock it in, let's lock it in. And he said I just did it with my IRA and he had actually just short-term rental. Okay, now he wasn't using it, all right, but they had that vision you were talking about of man. When we quit the day job, we want to come at Del Boca Vista, all right, playing cards with Morty Seinfeld man how would it?
Speaker 2:be. So now here was the snag. He had a traditional IRA. Okay, this was done as a traditional account, and so it was interesting because that property was actually doing pretty well as a rental. He was actually making good cashflow. So we weighed the pros and cons of him distributing it out. What was it worth? Now it had gone up in value, it was cashflowing great as a rental, and what he actually decided to do was just to buy another property in the same development personally, because that property was performing well in terms of cashflow and it was still growing, and he didn't want to take the hit for the traditional. So the key was if you feel like that play is going to be, that area or place where you want to be in 510, whatever that window is is appreciating, it's going to be a hot market. You definitely want to use the Roth IRA, so it comes out tax free. Yeah, and here's the workaround, everybody.
Speaker 1:Do the chunk. Take the Roth conversion early on because you could get an appraisal. This couple could have been back when they first bought it and they knew it was going to highly appreciate it. Get a valuation with an appraiser. Tell them I want the lowest possible value, which is not what appraisers are typically told.
Speaker 1:And say I want the lowest value, you can justify it, roth conversion that you can stand behind, and then Roth conversion, so rip the Band-Aid off back, then pay the tax on that property value. Then in that five to 10 year runway they pull the trigger Exactly Yep, no tax, yep, so fun, fun, fun strategy.
Speaker 2:Okay, number five All right, let's talk about partnering. Yeah, partnering. I think this is a really popular one.
Speaker 2:As a lawyer, I probably set up over a thousand LLCs with someone's IRA in the LLC as a partner. There's a lot of variations of how this could look. This could be a combination of IRAs partnered together in an LLC. This could be your IRA, your spouse's IRA, your kid's Roth IRA, your health savings account all into one LLC going to do a real estate deal. Whatever that asset class is in the real estate space. Maybe it's a storage facility, maybe you're flipping a property any of this other stuff we've talked about. Another variation could be and we've said this one quite a bit is maybe your IRA is like the cash partner in a deal and there's some other investor who's like the work partner, you know, and you have a split percentage of ownership and a credit partner. Yeah, you could even have a credit partner in the mix too, if needed, in the deal. So, and we could go on with different iterations of that, and maybe you would like to, but I was going to say there's a lot of variations of how that could look.
Speaker 1:And we've got some great podcasts that are on folks. If that's already entertaining to you, get over and check out those podcasts on the IRA LLC. And the one I'd like there the most is a college savings type angle. You're doing real estate, you're in the real estate realm. You're like, oh, I can do this. And they do have children that are 5, 10, 15 years old. You know they're going to college in 5 to 10 years. You're like, but you don't think and say you know what, I can put their covered LIRA in this mix. Just throw in two grand in their covered LIRA or a couple grand for double up a couple of years if you can Get your kid's Roth IRA going even. And so now you're using a strategy for some exit on this property 5, 10 years from now when your kids are going to college and their covered LRA could come out tax-free for college. And it's just a 1% owner. It doesn't have to be a lot.
Speaker 2:It's base hits, yeah. Base hits win games yeah.
Speaker 1:All right, now I'm going to throw in a bonus. I got a bonus.
Speaker 2:Oh, all right, Now I'm going to throw in a bonus. I got a bonus, oh, all right. I'm curious what this is. All right, here's a bonus.
Speaker 1:This is arguably an asset class Okay, but it's also a strategy. I'm covering it up.
Speaker 2:I saw it already.
Speaker 1:I think tax liens are an option. Okay, it's kind of a wholesaling type deal. It's using leverage in a creative way. So, for those that don't know, people default on their property taxes all the time and these properties are listed for sale. There's a whole process for this. There's a whole industry for this, but I think, as a strategy, your IRA that may not have a lot of value yet and you're trying to get some traction to do some bigger deals. We have clients that have made millions over their career using their IRAs to tie up tax liens and then sit on it, resell it, have them default, pick up the property for the value of the tax lien. There's all these different techniques involved, but I don't know, could that be considered a bonus? Will you give it bonus status?
Speaker 2:I give that bonus status. We didn't talk about that one, but that's a good one. We even had at our self-directed IRA summit we did in North Carolina. We had one of the investors there who uses Roth IRA to get a tax lien on a property right across the street from Augusta, Georgia.
Speaker 1:Remember this oh yes, that's right. Wasn't that where the Masters is? Yeah, the golf course in Augusta.
Speaker 2:Yeah and had over a million dollar return on it. And in that episode he went over how he did it and he's a tax lien investor. I mean, that's what this guy does. He does tax lien deals all the time which, where you go buy, when someone doesn't pay their property taxes, the cities and counties will go sell the property tax that's owed and so you can buy that and pay off the city, basically, and you take that lien right. Well, if that and this is all different between the states but if that owner of that property doesn't resolve that with you and pay you back within a certain period of time, you can basically foreclose and take the property. And so there's a lot of people that just invest in tax liens, frankly hoping that people aren't going to pay them off. And if they do, they have to pay back with interest.
Speaker 1:So you get some protection there, yeah.
Speaker 2:So, but in this one he found a really sweet deal. Now, when he found that really sweet deal, he's like I'm using my Roth IRA for this, because not only am I going to make money on this deal, I'm going to keep it all. So this is is again the real estate investors I know many of you might be listening that are like guys I know real estate investing and you guys, you know are idiots talking about the strategies, like I'm.
Speaker 1:you know this is what we're talking about.
Speaker 2:This is a little one-on-one, I know, but just think about using your Roth for it. Okay, that's where we've seen I mean honestly, my clients that have over a hundred million in a Roth IRA. There's a few, they're all real estate investors, all of them and but they do it outside their retirement account. When they see a home run deal or where they're really trying to compound over time, they're using their particularly their Roth account.
Speaker 1:Okay, I have one more bonus. I didn't write it down because I didn't want you to see it. You'll cheat right. This bonus you're going to love. Double bonus, double bonus, okay, all right. If you find this fascinating at all and are, like I, love creative deals, we need you at the Alt Asset Summit. It is later this month.
Speaker 1:October 16th and 17th Scottsdale, Arizona, and you can hang out with creative people that are thinking about this every day and in their sleep, losing sleep at night, because they are looking for creative deals in their IRAs. So the Alt Asset Summit is where you need to be. It's going to. Who doesn't want to be in Scottsdale in October? I mean, that's like a no brainer. It's the best time, yeah, so it's going to be beautiful. You can get to altassetsummitcom. Please check it out. You can also watch it online. We've got probably 15 different speakers 're going to parade through.
Speaker 2:Yeah, incredible list of speakers. So you can learn about stuff from storage. We talked about that. We've got commercial real estate multifamily people converting, different syndication. We've got oil and gas a couple of different speakers on oil and gas. We have precious metals. We'll be talking about crypto, private equity, venture capital I mean pretty much any asset class that you can invest in besides the stock market. We feel like there's plenty of events and stuff you can learn about investing in the stock market not our, not our jam, but all these different alternative assets that you can actually own with an IRA as well We'll be talking about. And the best thing, too, is like and talk to people who are already doing that. You know, learn from them what they've learned, because in any asset class, you can make a bad investment and a dumb investment, so being able to network with those other investors and being there in person is super valuable. They blaze the trail. Did I get bonus status on that one? That was triple bonus.
Speaker 2:I'll give you, you know, I'll give you, I'll give you a double bonus on that I was just at the casino a couple of weeks ago.
Speaker 1:That means something.
Speaker 2:Yep, that means something, yep, that does you know when?
Speaker 1:you get the double, triple bonus. That's what it means 20 bucks, yep, yep. Go, turn in that ticket. You know I miss the days when you actually had coins. You know it's all paper now. You know it's not as exciting when you hold that little bucket under the slot machine.
Speaker 2:You want to walk out of there with a big gulp full of. Is that what you were?
Speaker 1:Maybe, maybe you know, it's all about the feeling I won $4. Owen Nichols I'm rich, all right. Well, everybody, thank you for being here today. Another amazing Directed IRA podcast helping you build your wealth, invest in what you know. And people continue to. What's our dream on? Live on.
Speaker 2:Stay calm. Self-direct on.
Speaker 1:Dream on is like.
Speaker 2:is it like a Guns N' Roses song or something Dream?
Speaker 1:on dream on. No, that's not Guns N' Roses. No, that's Rolling Stones.
Speaker 2:Oh, yeah, yeah, I think you're right.
Speaker 1:Yeah, there we go.
Speaker 2:What we're saying is stay calm, self-direct on See you next week.
Speaker 1:Hold it before we say goodbye Aerosmith.
Speaker 2:We just had a correction in the studio. Yes, that is how we're do not?
Speaker 1:Yeah, we are committed to providing accurate information on this podcast, aerosmith. Only direct information, for self-directing only. Anyway, thanks for me. See you next week. And thank you everyone for listening to 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.
Speaker 2: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.