IRA passive investor approach

[Mauricio Ramos]

Hello BP Family,

As I am syndicating more deals and starting to reach out outside my inner circle of friends and family for private money for my deals, i am starting to talk to a few friends/ex-coworkers that have good chunks of money in their 401k and IRA accounts. They are interested in investing in real estate and with me. Any suggestions on how to best approach the conversation and even educate them a bit on how to invest their 401k and IRA money into real estate investing?

Of course, self-directed IRA is one of the goals. Also, at ages close to 60, should they look for a traditional or a ROTH and why?

Thank you,

Mauricio Ramos

[Scott Smith]

Hi @Mauricio Ramos,

I end up helping people establish these, but it's not a primary product for me. I end up talking to investors quite often and the conversation will shift toward their 401k or IRA because they always feel that they are not leveraging all the money they COULD be. This is when the discussion often shifts to checkbook control and different custodians. Once I explain how I run my own SDIRA LLC, they either want to replicate what I do or they don't.

From my experience most people get excited over what works for you personally. Think about how you get excited whenever you hear about a way to improve a system you already have in place - sometimes it just gives me the jitters to hear I can improve my processes or save some money! Best of luck to you - keep up the hustle.