Flip and Danny recap six episodes on self-directed IRAs, a 48-unit refinance with prepayment penalties, and investor distributions. They introduce new operations manager Joe and explain how to grow passive retirement income through IRA investments.
Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another episode of our.
Podcast, which is called Freedom through Passive Income.
That's right. And also joining us today is Bailey, Rosie, and Spartacus. So if you see them come through here, that's why, because we're on location in our new house. We just got here last night. And you'll occasionally hear a beep off in the distance from a smoke detector that is 30ft up in the air that I don't know who's going to change that battery. We're just going to get used to the beep.
And for those of you listening, the water. That's smarty. And you might hear some panting and whining and things like that. So enjoy the episode today.
So welcome to our home. Yes, welcome to another live. This is week three. 31. This is our weekly recap and key takeaways. Do you want to say anything before we get going?
No, I want to say that one of our key takeaways for the very last episode is that Joe is on board. He's our new operations manager and he actually wrote these. So Tina's been writing these for us. She listens to all the podcast episodes and then writes what she feels like are the good key takeaways. And today is from Joe. So as you listen, you can thank Joe for these. And we thank you, Joe, for writing these for us.
And of course, sorry, puncher Friday happens even in Florida.
Yes, it does function.
Friday, Florida.
There you go.
Let's see if I can get some more apps in there. All right, let's go back to episode number 211, the specific fee questions and self directed IRAs. Now, the key takeaways. The big takeaway from this episode is to make sure to ask your IRA custodian if you can use non IRA monies to be able to pay for the fees. Another key takeaway is. The first thing to remember is that almost every fee that an IRA custodian will charge you is negotiable. So it never hurts to ask them to waive a fee. A good example is the administration fee, which is usually what they'll charge you to open an account that's usually negotiable.
Yes, it is. I learned that too, that day. Episode 212, how to Open a Self Directed IRA Account. The first key takeaway from this podcast is to take time to open a self directed IRA account. It takes time to open a self directed IRA account. So get started today. I'm fumbling already. Second key takeaway is consider the termination fee. They might charge you $250 or $300 to close the account. So one of the questions you can ask your new potential self directed IRA custodian is will you pay for the termination fee from my last provider? Now if you ask them that right up front, they might say yes. Awesome.
Episode 213 how to turn $100,000 of lazy IRA money into a six figure passive income. The main takeaway from this episode is how an initial $100,000 investment plus annual contribution contributions can lead to a higher returns over time, creating a potential additional 135,000 annual retirement income in just 20 years.
That's right.
Another takeaway is the earlier you begin saving for retirement, the greater the reward in annual passive income that augments any other investments and government administered retirement benefits.
Yes indeed. Episode 214 was our 48 unit refinance.
That was that was that just last week?
I know is the numbers episode Key takeaway. Primary takeaway from this episode is that the total acquisition cost of a property does not equal the all in cost after refinancing and investor distributions. Key takeaway number two is a commercial loan can include a prepayment penalty that is sometimes tiered based upon the timing of your payback. Even an early refinancing of a property can trigger this penalty. That is a good key takeaway.
Yeah. Episode 215, it's distributions time. Also known as Santa Flippy. Yes, Santa Flippy AJ does all of our podcast thumbnails and so thank you very much for that one. I enjoyed that one. The key takeaway from this episode is that the goal of investing in our funds is to build distributions and earn returns over time that add to your income. Another takeaway is you may be able to reinvest your scheduled distributions to increase your holdings, which in turn will increase your future distributions.
That's right. And then episode 216 was week 31 live update. We recorded it yesterday morning. Chattanooga, Chattanooga, Tennessee on our way here to our Florida house. And the two key takeaways are these. Number one, we made it to Florida. Woo hoo. And then number two, Joe.
Yes, thank goodness. Yes, thank you.
We're so, so grateful. Our operations manager, Joe Becker started this week and Tina went and visited him and did some onboarding and he wrote these key takeaways. And so he's already just digging in. He's not afraid. And that's exactly the type of person that we need. He's going to be a great leader in freedom. Capital investments. And we're excited to have him.
Yes, Very. Exc. Another key takeaway from yesterday is that when driving into Florida, we noticed that the speed limit signs are optional.
Oh, yes. The second we got into Florida, suddenly it was like, zhoo, voom.
Did the speed limit change?
And you just. We became a lot more alert, right? I'm like, okay, who's gonna hit me? Somebody's gonna hit me. Somebody's gonna hit me.
Well, we hope you enjoyed this episode. Make sure you're heading over to our website, freedomcapitalinvestments.com to join the investor club. And also we're on all the social media, Facebook, LinkedIn, and all the Snapchatogram, whatever those are. But we like to end all of our episodes with invest smart, Live happy. Bye, everybody. Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial, or business professional for individualized advice. Opinions and information on this show are not guaranteed. All investment strategies have the potential for profit or loss.
Sam.
Physicians and High Earners — What Real Estate Can and Can't Do for Your Taxes
