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May 14, 2020

There will be an upcoming shift in the real estate market you can take advantage of. In this episode, we talk about real estate, self-directed IRAs, and the current market. I have my wonderful friend Ron Legrand with me for this episode. Ron is a dear friend, mentor, and has taught me a ton about this business. Not only is he the best I know in real estate, but he has a consistent and constant following. Even though he is humble and doesn’t brag about it he has made more millionaires and has helped countless families thrive in real estate. 

We talk about real estate and how you can sell or buy using terms to create residual monthly income. Even though we are living in uncertain times people still need a place to live. We also talk about self-direct and Roth IRA’s and how they can benefit you financially. You don’t want to miss it! 

Show Notes:

  • [02:35] Ron has bought and sold over 3,000 houses. 
  • [03:01] Ron’s specialty is buying and selling in terms. In other words, we get the seller to sell it with terms so we can offer it to our buyers with terms and those are the folks that can not qualify at a bank. 
  • [04:20] There are three kinds of terms. You lease it with an option to buy from the seller, or the seller deeds it to you and you start making their payments or buy it with owner financing.  
  • [05:02] Most of the ones Ron buys are on a wrap-around mortgage because the seller has a debt. He buys it with owner financing. 
  • [05:46] Some people will sell you a house with nothing down if you use the right script.  
  • [06:28] Ron is able to help buyers with a lower deposit and less than perfect credit.
  • [07:07] He is able to create a residual monthly income that keeps on coming in for years. 
  • [07:40] Ron gets all these advantages for owning real estate. He wants growth, tax reduction, and wealth all in one deal. 
  • [08:39] He uses free apps and websites to help him find the homes he wants to buy including Facebook Marketplace and Facebook Ads. He also uses door hangers and flyers to get the word out about properties he is selling. 
  • [10:20] How would you use self-directed IRAs? 
  • [10:36] Self-directed IRAs can buy real estate just like we do. They are better suited for the cash, rehab, or wholesale deals that do not come with debt. 
  • [11:53] A Roth is the only IRA one needs because it is tax-free. Doing business tax-free is always better. 
  • [14:41] There are self-directed IRA companies that only focus on these specific IRA’s. 
  • [15:45] You can’t deal with anyone in your linear descent including your spouse’s group or you are self-dealing. Self-dealing can wipe out your IRA and cause penalties. 
  • [16:12] In these current times, Ron has found that business is better than it was. Buyers have a different mindset, they are way easier to deal with and they are abundant with money to put up. 
  • [17:38] Why are current times so different than 2008, 2009, and 2010?
  • [18:28] Many of Ron’s colleagues are finding the real estate market easier right now. 
  • [18:50] Ron has a free 3-day summit coming up on May 5th-7th.
  • [20:08] During the summit they actually do deals while you watch. 
  • [20:56] Loral is speaking at the summit about how to buy businesses. 
  • [21:08] Ron’s free summit is a 3-day event. The event runs from 11 AM EST - 6:30 PM EST on days 1 and 2. The event wraps up at 5:00 PM EST on day 3. 
  • [22:34] Ron has been doing live events for a long time and will continue doing them once we get passed all this.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Ron’s Website
Ron on Facebook
Ron on Instagram
Ron on YouTube
Ron on Twitter
Quest Trust Company
Summit Sign-Up

 

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