PMA 6/19/24
Jun 25, 202405:41 So with that, what are we doing today on this training? Well, two weeks ago, we started going over the nine questions that are going over the answers to the nine questions that a private lender will ask you before they fund your real estate deal. Well, I didn't know it was going to take the entire time to just cover four.
20:08 So you want to be ready for that answer. And then the fourth question we answered two weeks ago was they'll ask, can I roll over a portion of my IRA to a self-directed IRA or do I have to roll over the whole amount? And the bottom line answer is yes, they can roll over a portion of it from wherever they have it. They don't have to transfer all of it. And by the way, you want to remind them there's no penalties, there's no tax, there's no tax triggers.
21:31 So the next question that we had come in was, and this is from the private lender, if you pay interest only, if you pay interest only, how do you pay down the debt? So Crystal, I'm going to give this one to you. If you pay interest only, how do you pay down the debt? So really let's back up and ask more than one question. Why do we pay?
27:42: The next question while I was presenting this webinar, uh, helping raise private money for one of our platinum members. Now the question came in, how many points do you pay a private lender? So what would your answer to that banjo? That is a really good question. And my answer would be zero points. Um, the reason behind that answer is because.
36:37 Yeah, so that's a tough one to answer because it really just depends. Sometimes we have just a little cosmetic work to be done and we can get it done within a few days. Other times it's a major rehab and that'll take months to do. So it's a hard one to answer, but we usually get our rehabs done within six months, bought and sold, or we try our best to get them bought and sold within six months.
48:53 So that's all of our questions, right? Crystal. That's correct. All right. Awesome. Um, I have an announcement to make, but before I make the announcement, and I'm so excited about this announcement before I make this announcement, crystal banjo Erica and whoever else was with us last week here in Atlantic beach, North Carolina. Did we not have an amazing mastermind meeting and live event experience last week? Absolutely.
