On today's episode of the InvestFourMore Real Estate Podcast I talk with Matthew Tillack who is an expert on using self-directed IRAs to invest in real estate. Matthew is also a real estate investor himself with multiple active flips and rentals. Matthew works with The iPlan Group which is a company that specializes in self-directed IRA investments. I bought a turn-key rental property last year using my self-directed IRA in Cleveland. There are many rules and regulations when you use a self-directed IRA to invest and it is wise to use experts to help you with the transaction. The great thing about using an IRA to buy real estate is the government has many tax advantages for retirement accounts. When using a ROTH or traditional IRA you will defer and in some cases save money on taxes.
On today's episode of the InvestFourMore Real Estate Podcast I speak with Justin Gesso, who is my team manager, a real estate agent, a property manager, an entrepreneur, and he has now written a #1 international bestselling book! In fact, he is doing something very special for InvestFourMore readers only. He's giving away 5 signed copies of the book, which you can check out here.
Justin was a high level corporate manager making great money when he decided to quit his job and get into the real estate business. Justin and I were college roommates and have been friends for many years when he decided to come work with me instead of continue in the corporate world. I think Justin was tired of the uncertainty, the ceiling on income (unless you are willing to give up your entire life), and the stress of working as a high level manager.
It did not take Justin long to succeed in real estate as an agent, a property manager, and a team manager. We hear all about it on this podcast episode.
Some of you may have noticed I have been in the media a fair bit recently. I was featured in a Washington Post associated press article about real estate agents a couple of months ago, which was picked up by MSN, Yahoo, Time, and many other major media outlets. I even had to do a photo shoot for the article, which was extremely cool. I did not get that media coverage by sitting around and waiting for people to find me. In fact, I signed up for a public relations company to learn how to reach reporters and the media. Josh Elledge is the head of that company (UpEnd PR) and helps many people get PR and has been mentioned over 2,000 times by the media himself. Josh also runs a savings blog and podcast called savingsangel.com, which has had over 5 million dollars in sales, mostly thanks to media coverage. Josh works with real estate investors and real estate agents to gain PR and improve their business.
Last November I bought a house I planned to flip for $535,000. I estimate the home to be worth about $845,000 after minimal repairs, which is an amazing deal. The catch was, the home had a tenant in place with a ten year lease. I could not talk much about this flip the last 8 months, because I was negotiating with lawyers and the tenant. However, on August 1st, 2016, the tenant moved out and I gained possession of the home! On this episode of the InvestFourMore Real Estate Podcast I talk about the numbers, the repairs, dealing with the tenant, why a ten year lease was in place and much more.