BPAP 78: What to Know about Self-Directed IRA Investing with Terry White
Brain Pick a Pro Podcast
English - September 20, 2019 00:30 - 38 minutes - 35.2 MB - ★★★★★ - 5 ratingsInvesting Business Careers realestate realestateinvesting business investing cashflow entrepreneurship finance marketing entrepreneur interview Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
This week's guest is Terry White, the president and CEO of Sunwest Trust, Inc. Sunwest Trust, Inc. is a financial services firm that offers real-world solutions to clients who need help with their self-directed IRA and escrow management needs.
Terry started First Financial Escrow, Inc. Over the next few years, he also started other businesses like First Financial Equities, Inc., Asset Ventures, Inc., and First Financial Marketing, Inc.
Aside from acting as CEO of Sunwest Trust, he was also appointed to serve on the Board of the New Mexico Finance Authority.
Topics:
Terry's background and what his company does
How he started Sunwest and how they are helping their clients
Why he started the trust company
On doing your due diligence and understanding what you are investing in
A lot of money on the sidelines just waiting for a good investment
On diversification
Buying and selling owner financing
Thoughts about investing on debts or buying notes
On self-directed accounts
The key is knowing what you're doing
Different ways you can invest in real estate using a self-directed retirement account
On making offers
What some of the prohibited transactions are
What a checkbook IRA is
Difference between a 401K and an IRA
Terry's favourite type of account
Risk versus reward
Quotes:
“You need to do your due diligence and understand what you are investing in.”
"I think it's super important for people to take their time to educate themselves so that they don't take their retirement account to an investment that they may not be the best one for them."
"The higher the reward you get, the higher the risk."