The Reason Why You Should be Buying

The Reason Why You Should be Buying

Episode Transcript

(00:00):
The following is a paid commercial programon ninety four three WSC. The views
expressed by the host of this programdo not necessarily reflect the views of iHeartMedia
ninety four three WSC it's advertiser,sponsors or management. This is the Real
Estate Show with Rick Willis. Ishow about home sales, mortgage issues,
investing at everything about the American dream. And I mean that's someone who enjoys

(00:23):
radio and really enjoys your program.And now the Real Estate Show with Rick
Willis on ninety four three telling youSC Hello, Charleston, Welcome, Welcome
to the Rick Willis Real Estate Show. We talk about real estate here,
buying, selling, refinancing, investing, residential houses, multi family property,

(00:50):
commercial property, vacant land, youname it, and we can talk about
it on this show. Well,folks, I always start off the show
letting you know where the real estatemarket is locally and where we are nationally
and locally we're very stable, veryvery stable, to the surprise of a

(01:15):
lot of people. By the way. You know, there's so much information
that you receive about the real estatemarket in whole, meaning as a whole
in the United States, depending uponwhere you get your information online, newspaper,

(01:38):
blogs, magazines, journals, newsletters, and is it coming from someone
that has a self serving reason totalk about the negative things about real estate
or the positive things about real estate. I mean, you listen to this
show, you're going to hear thepositive things about real estate. You listen

(02:02):
to your financial advisor and you're goingto hear the negative things about real estate.
You talk to your associate that workswith you, your husband or your
wife. How informed are they dothey really know what they're talking about?
Locally? Really? And it's veryimportant when we talk real estate to know

(02:28):
that real estate is always local.I mean, sometimes it's so local that
one part of the Charleston area isdoing really well and another part not so
much. One type of property mightbe doing really well and another type of

(02:49):
property not so much. One pricerange might be doing really well and another
not so much. So you alwayshave to be focused on local when you're
dealing with real estate, and youhave to be speaking to or listening to
someone that really really knows. Now, there's about six thousand and five hundred

(03:17):
residential and commercial real estate agents inthe Greater Charleston area. That's a lot,
and not many of them really havethe pulse on the entire marketplace.
Now, one of the things thatyou should know when you listen to me
is that I do business all overthe greater Charleston area. I mean,

(03:42):
I'm in Colleton County and Charleston County, Berkeley, Dorchester. Eventually I venture
out to Orangeburg County and Williamsburg County, get up towards Oory County and southern
part of Myrtle Beach. So I'vegot my finger on the pulse of the

(04:03):
entire marketplace. I know about thesingle family market, I know about the
multi family market. I review thecommercial transactions that go on on a daily
basis. I'm informed. So whenyou listen to me speak to you about

(04:23):
the greater Charleston area and real estate, know that it comes from firsthand experience.
So translated, let me get backto specifics here as of this morning,
two thousand, two hundred and twentyfive active residential listings two thousand,

(04:44):
two hundred twenty five. And knowingthat most of you do not listen to
the show on a weekly basis.You tune in when you can or by
accident. In some cases you maynot have a context for that. I'll
frame it for you. Going backto the market decline of two thousand and

(05:05):
eight, nine, ten eleven,there was as many as over ten thousand
active residential listings for sale, andthat's been fifteen years ago. If we
look at the height of the pandemic, when inventory was flying off the shelf,

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and when I use the word inventory, I'm talking residential properties, and
people were buying properties site unseen,offering over asking price, multiple offers,
not even being concerned about a homeinspection. We actually got down to the
point of below one thousand active residentiallistings, and during that three year period

(05:58):
twenty twenty twenty two, we sawan average for those three years of fifteen
percent annual appreciation. Why because ofthe law, supply and demands, so
many people were out buying, andthat really was true all over the United
States, not just locally. Sowe had ten thousand active listings going back

(06:21):
twelve thirteen, fourteen, fifteen yearsago, and then below a thousand active
listings in the last couple of years. And now the inventory has increased to
as of this morning, two thousand, two hundred and twenty five, but
that number has remained rather stable.It's been in the range of about two

(06:47):
thousand to twenty three hundred active residentiallistings for a number of months. So
the market here is stable. Now, don't confuse stable with balanced. A
balanced market where you know there's anormal progression of buyers that can look at

(07:08):
property and not have to feel rushedto make a buying decision at the moment
you'll look at it, still havea due diligence to order a home inspection
and that kind of thing. Thatnumber would be about six thousand. According
to the experts that with six thousandactive listings, the marketplace is not in

(07:30):
favor of either the buyer or theseller two thousand, two hundred twenty five
active listings. The market is stillshort of active listings, meaning there are
more people really that want to buythan are choosing to sell, which means

(07:51):
that property values are still increasing.Integrator Charleston Area. Yes, that's right,
they are still increasing. And ifyou are a buyer, know that
you need to jump on looking atlistings when they come on the market,
and you need to make still quickdecisions or another buyer is going to show

(08:13):
up that'll respond quicker than you,and you can lose out on a good
deal simply because you quote thought aboutit too long or said no, I
need to look at more properties.So two thousand, two hundred twenty five
active listings, they're still a shortage. And with the number of people that
have the low interest rate loans,it's not likely that a whole lot of

(08:37):
those people with two and a quarter, two and a half, three,
three and a quarter percent interest ratesand quite a number under four percent are
going to be putting their properties onthe market like they would have in the
previous forty years when interest rates weredeclining. All of you know that interest

(09:01):
rates have risen from the twos andthrees up into the fives and sixes,
and not too long ago into theseven percent range. But right now they've
kind of settled back. And dependingupon your credit score, depending upon the
type of loan you're getting, areyou getting a fifteen year term, a

(09:26):
thirty year term, You can getloans now in the fives and sixes as
a residential owner occupant. So youknow they've stabilized, even though you don't
like to see it compared to whereit was. My suggestion to you,
don't keep looking back to where theyused to be, meaning the interest rates.

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If you missed it. You missedit. But I had a conversation
with somebody here just recently. Itwas unsure about buying or quote, waiting
to see if the interest rates woulddrop. And I said to them,
well, how long are you goingto wait? You know, how many

(10:11):
months or years are you going towait? Meanwhile, with the property values
increasing, if your first time buyerget in the game, stop throwing away
your money and rent, start buildingsome equity, yes even at a higher
price point. Well, folks,we're going to talk more about the local
market. We're going to talk aboutsome other things today, so stay tuned.

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But my name is Rick Willis.I do this show one hour a
week when I'm not on the radio. I help people buy and sell their
primary homes, investment property, vacantland, commercial. How can I help
you? Give me a call RickWillis eight four three three two seven three
zero one seven, email me Rickat Rickwillis dot com and my website Rickwillis

(11:01):
dot com. Folks will be rightback after this break. If you have
real estate questions, or if youneed a market analysis on your property,
call Rick right now at eight fourthree three two seven three zero one seven,
or you can email them at Rickat Rickwillis dot com. Check out
Rick's bio and access all properties onthe MLS at Rickwillis dot com. Welcome

(11:24):
back, Welcome back, Charleston.Welcome back to the second segment of today's
Rick Willis Real Estate Show. Well, the first segment, we were talking
about the status of the real estatemarket here in the greater Charleston area.
In my opinion, it's a greattime for sellers and it's a great time
for buyers. You see, whenI say it's a great time for buyers,

(11:48):
I'm not looking backwards at what interestrates used to be. I'm looking
forward. And when I look forwardas to what's going to happen in the
local Charleston area real estate state ofSouth Carolina, even I see nothing but
up. Remember something about real estate, and you don't have to read it

(12:13):
from an expert or hear it fromme on the radio, and that is
the prices of real estate. Thevalue of real estate is going to be
governed always by the law of supplyand demand, always, never an exception.
And even going back into the eraof two thousand and eight nine ten,

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when real estate values declined an averageof thirty percent for a couple of
year period the midwest Oklahoma as anexample, they had no decline at all.
So in the midst of the wholenation having an average thirty percent decline

(12:58):
in some places like Phoenix and LasVegas, and couple of cities, another
couple of cities out west they declinedforty and fifty. And here you are
in the Midwest and stable stability pricesdid not decline period. Well, I
look at real estate in South Carolinathat way, and the entire state,

(13:24):
by the way, is very prosperous. I mean, last week in the
show, I talked about what washappening in different parts of the United States
and which market areas were doing well, which we're doing better, which we're
doing worse. And not only isthe Charleston area is strong, but so

(13:46):
is Hilton Head, so is MyrtleBeach, Columbia, Greenville, Spartanburg,
So the upstate, the midlands,and the low country all strong. Why
because of two things. Number One, we have businesses locating here, and
that, Folks is a long termtrend, a combination of the pandemic and

(14:13):
just the normal migration of companies movingfrom the north to the south from colder
climates to warmer climates. The companiesare coming. Employers are coming, and
when employers come, and when employersthat are already here expands, that means

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there's jobs. Jobs require people,and therefore people are following the jobs which
continue to grow here in the GreaterLow Country and in South Carolina. Additionally,
you have retirees of which that willbe a constant constant are retiring here.

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They're loving the state of South Carolina. They love the politics of South
Carolina, they like the weather ofSouth Carolina. They like the fact that
you know, there's still close enoughwithin touching distance of the major metropolitan areas
in the northeast, and same thingwith Florida. We're within touching distance of

(15:20):
all of those places. So peopleare coming for jobs, people are coming
to retire. Then you have whenpeople come to retire, you have their
kids and grandchildren come, or insome cases the kids come with the grandchildren,
and then mom and dad retire andlocate to be near their kids and

(15:43):
grandchildren. I'm finding that a lot. So the population is going to continue
to increase, and when the populationincreases, people need a place to live.
And that's not going to change thelaw of supply and demand a tangible

(16:04):
asset, not a paper asset,a tangible asset as in you can touch
it and feel it. And whenthere's more people coming for a limited supply
of inventory, meaning houses, theprices must go up. Why Because it's

(16:26):
a law, the law of supplyand demand. Now, when I talk
about the law of supply and demand, I don't know that that's going to
hold true for a million dollar propertyor two million dollar property, but I'm
certain that it's true for properties thatcan never be duplicated. And again,

(16:48):
when I say properties that can neverbe duplicated, I'm referring to those properties
that if you looked at what ittook in cost to buy the land,
get the permits, ready to doinfrastructure, the cost of materials, the
cost of labor, and all theancillary expenses that go into developing a new

(17:14):
subdivision or building a new condo ortownhouse. There's properties out there today that
are less in price than what canever be built. So you've got an
increasing demand and a finite supply.What does that tell you about what must
happen to the prices and the valueof those properties. Answer? Common sense

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and understanding the law of supply anddemand would tell you that they must increase
in value. You want to ownCharleston area real estate, and you want
to own it as a place tolive, and you want to own it
as a place to invest, thenumber one place to have your money,

(18:06):
to keep it safe where it willalso grow in value. Of course,
that's my opinion, but I've justifiedmy opinion. So safety and growth,
and if you're an investor income also, how do you beat that combination?
You want to move your money outof paper assets into tangible assets, and

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you make sure you do that byunderstanding how real estate works not just as
a place to live, but alsoas a place to invest your money.
You know, I talk to peoplethat are young, talk to people that
are in the military, talk topeople that are upwardly mobile in corporate jobs,

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and they tell me frequently, well, I'm not going to buy because
I'm going to be transferred, I'mgoing to be deployed, I'm going to
be probably moving out of state.And I say to those people who are
not buying for that reason, that'sexactly why you should be buying. Because
of that reason. You see thedifference in owning a property as a homeowner,

(19:23):
occupant or an investor is huge basedon the financing that you can get.
You see, there are three waysyou can buy a property for zero
down payment, zero nothing as anowner occupant. And even if you don't

(19:44):
qualify for one of those three waysto buy with zero down regular conventional financing
three percent down seller have the ability. Sellers have the ability to pay all
of your closing costs. So ifyou know, oh, you're going to
be moving out of the area,know the chance is highly likely you'll be
leaving. Buy something as an owneroccupant, move into it, live in

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it, don't look at it asa place to be for a long term.
But buy something with a lowdown paymentwith the understanding that you're likely to
leave, and that property is goingto get converted to a rental property and
an investment property. And if you'rein your twenties thirties, forties, you're

(20:33):
going to turn that property over toa property management company. My wife and
I manage properties, and you mightbe a thousand miles away, you might
be in a different country, butyet somebody else is managing your property.
They make sure there's a tenant inthere, they make sure the rent is
being paid or they evict them,and by the time you're thirty years plus

(21:00):
what your age is now, yourproperty is paid for, but you didn't
pay for it. Maybe you putzero down and the property's worth a half
a million dollars when you decide toretire, and it was paid for by
the tenant, and you got taxdeductions and tax breaks along the way.

(21:22):
But again, my point is looksas an opportunity. Folks, we're going
to be taking another break, butI want you to call me. Let's
have a conversation about this or anythingto do with real estate. Eight four
three three two seven three zero oneseven. Email me please Rick at Rickwillis
dot com, visit my website Rickwillisdot com and let me help you make

(21:48):
some money. Let me help yousell your property. If that's what you
want to do. I'm here tohelp you, and by all means,
let's have a conversation. Folks.Will be right back after the break.
If you have real estate questions orif you need a market analysis on your
property, call Rick right now ateight four three three two seven three zero
one seven, or you can emailthem at Rick at Rickwillis dot com.

(22:11):
Check out Rick's bio and access allproperties on the MLS at Rickwillis dot com.
Welcome back, Welcome back, Charleston, Welcome back to the third segment
of today's Rickwills Real Estate Show.Well, when we talk buying real estate,

(22:32):
whether you're a homeowner, occupant,or whether you are an investor or
thinking that you might want to bean investor, so many people just think
in terms of a single family detachedresidence. And I know that's the American
dream for most families that have kids, single family detached property. But you

(22:56):
know what, if you're don't haveto have that big backyard, maybe what
you should be thinking is an entrylevel property. That might be a condominium,
that might be a townhouse, andyou could be thinking in terms of
what I just said in terms ofit being just that an entry level property

(23:18):
that where even if you stay intown for the rest of your life,
when you do move out of thatproperty, you're going to convert that property
into an investment property. And again, for anybody thinking about the possibility of
utilizing real estate as an investment property, you do not ever have to deal

(23:42):
with a tenant or any potential tenantissues. There are individual real estate agents,
there are property management companies that cantake all that burden off of you.
If you consider that a burden,is there a call to it?
Yes, But is it still worthwhileto pay that eight nine, ten,

(24:07):
eleven, twelve percent in fees tohave somebody else manage the whole property for
you? Yes, And in mostproperty management companies you have the ability if
you want, you can find thetenant and not pay that respective fee,
but have somebody manage it for youongoing or the reverse of that. Look

(24:30):
the property management company find and vetthe respective tenant, and then you handle
the ongoing management. So you cando all of it, none of it,
part of it, and don't letthat be a reason for you not
to buy an investment property saying thatI don't want to deal with a tenant

(24:52):
or issues with the property when theycome up. You see, there are
people that buy properties all over theUnited States. They don't even start with
looking at what's in their own backyard. They don't start with I need to
manage it and do everything. Theystart by looking for where's a good deal
and what part of the United Statesis it in, and they gravitate to

(25:18):
that particular spot. But you see, there's different kinds of properties. Again,
you know about a single family detached, you know about a townhouse,
you know about condominiums, And there'ssome other kinds of properties out there that
you could buy that could be onesto either live in and or that you

(25:42):
could use for rental properties. Forexample, there's multifamily properties. Multi family
could be a duplex two units sideby side, or a duplex one on
top of the other unit. Youcould live in one, rent out the
other side, or rent out theother unit if you will, and live

(26:06):
very inexpensively, even at today's interestrates. So you might want to consider
that. And by the way,when I say multi family, yeah,
there's a lot of multi family thatare in older neighborhoods and lower price point
neighborhoods where you say, yeah,maybe I don't want to live there.

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But I helped somebody two weeks agoclose on a property that was in West
Ashley. It was the price pointwas above a half million dollars and two
units, two units a total offive bedrooms. And you could live in

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a very nice neighborhood, in avery nice older property that had been fixed
up and upgraded, and rent outthe other portion of your property. And
instead of it being having a monthlypayment of a six hundred thousand dollars property,

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you'd have a monthly payment of atwo hundred and fifty thousand dollar property
living in a neighborhood that was firstclass and much higher priced homes than what
you'd be in if you were ina two hundred and fifty thousand dollars neighborhood.
So multi family could be two units, could be three units, maybe

(27:33):
it's a four unit property. Ihave a favorite story that I tell,
and I've told this story many timesover my twenty years of being on the
air. A number of years agofrom my radio show, I had a
gentleman call me who was from Braziland he was legally here in the country,

(27:56):
and he drove a sanitation truck forthe city of charge Austin. His
income was thirty four thousand dollars andhe heard me talking about buying a multi
family property, and we ended upcontracting for a four unit property in Handahan
Street called Murray. He bought thisfour unit property, lived in one unit

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and the other three rental units ofthe four unit property. That income seventy
five percent of that income went towardshim qualifying for the loan for a three
hundred eighty plus thousand dollars property,and the income from the other three units

(28:48):
paid his entire mortgage payment. Sothis particular gentleman with a thirty four thousand
dollars a year income single drove atrash truck, if you will, in
downtown Charleston, bought a almost fourhundred thousand dollars property and the rents pay

(29:11):
for his entire mortgage payment. Nowthat same gentleman, and I haven't talked
to him lately, but that sameproperty today would be six hundred thousand dollars
plus and his mortgage would be probablyaround three hundred. He's probably got three

(29:32):
hundred thousand dollars equity in his propertythree hundred thousand. Do you think he
could have saved three hundred thousand inthe length of time? Of course not.
But you see how you become wealthyin America is you own something that
increases in value while you sleep andthat you control. You don't control what

(30:00):
happens to your money in your fouroh one k or ira. You are
at the mercy of the individual companiesthat comprise that respective account, or you're
at the mercy of the politics ofour country. You're at the mercy of

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all these other social variables that areout there that have all kinds of potential
for a market decline. And yes, over the long term, will the
stock market and your retirement account comeback? Yes? But how much?

(30:45):
How fast? And would you ratherbe in control of your own fate or
leave it up to somebody else yousee at the end of the day,
who cares more about your money thanyou? And I hear people listening to
me say this that have hundreds ofthousands of dollars in the stock market in

(31:10):
their retirement accounts, and they don'teven call me for a consultation. They
just say, well, it'll comeback, folks. The future will not
look like the past. We havecrossed a threshold of debt in this country.

(31:30):
We have crossed a threshold that politicsare no longer the way they used
to be. We have crossed athreshold where other people are talking about electronic
money and not using our US asthe currency of choice for the world.

(31:52):
We're talking about other countries militarily threateningor potential threats of the US. No,
the future is different, will bedifferent, and you can't count on
the historical perspective of the stock marketfor the future, move your money to

(32:14):
a safer place that you personally control. And in order to do that,
you have to be educated for yourpersonal situation. And there's not a show
that goes by that I don't inviteyou to reach out to me, to
call me so I can have ameeting with you personally, you and your

(32:37):
spouse, you and your significant otherabout how for your personal situation, what
can be done to ensure that yourassets remain safe and grow. And you
might be shocked at what's possible ifyou had that one hour meeting me and

(33:00):
I invite you here without it beinga commercial per se to contact me,
and of course you'll hear my contactinfo on the next changeover of the break.
But what I'm really trying to sayis the only reason you won't put
a portion of your assets in localCharleston area real estate is out of fear,

(33:24):
fear of what you don't understand,or fear falsely there because of misinformation
that you have about real estate.Everything you see in the news is about
residential real estate. Well, they'renot talking about duplexes and three plexes and
four unit properties, are they they'renot talking about commercial properties, are they.

(33:50):
You see, there's different kinds ofproperties that have different pluses and minuses.
I recently saw a small shopping centeron the market, and the small
shopping center was located in Somerville,and it had a seven percent cap rate,
and it had highly qualified tenants inthe property, the kind of tenants

(34:15):
that would survive another COVID outbreak,triple net lease where you, as the
owner, should you have bought thatproperty, wouldn't have to do anything.
The tenant would take care of allmaintenance and all repairs, even the taxes
and the insurance. You would needa property manager, per se. Are

(34:37):
you familiar with these types of investments? Well, why not get familiar with
them. Give me a holler,let's meet, let's chat, let's talk
about them. And folks, remembersomething, and I repeated this in multiple
times last week. If you buythe right kind of property, and I

(34:58):
just talked to you about several differentkinds at the right price point, in
the right location, you are virtuallyassured of winning every time every time.
But you know what you need toknow what that right type of property is

(35:21):
for you, where that right locationis for you, and what that right
price point is so the type,location and price point. Folks, you're
listening to the Rick Willis Real EstateShow, Please give me a holler.
Let's chat. We can meet forlunch, breakfast, just come over to

(35:44):
your house, have an iced tea, a beer, whatever you like,
or we can meet at another location. Folks call me at eight four three
two seven three zero one seven,email me Rick at Rickwillis dot com.
Visit my website Rickwillis dot com andread my background and you can access multiple

(36:09):
listing there directly. Also, folkswill be right back for our final segment
of the day. If you havereal estate questions, or if you need
a market analysis on your property,call Rick right now at eight four three
three two seven three zero one seven, or you can email them at Rick
at Rickwillis dot com. Check outRick's bio and access all properties on the

(36:30):
MLS at Rickwillis dot com. Welcomeback, Welcome back, Charleston, Welcome
back to the final segment of today'sRick Willis Real Estate Show. Well,
we've talked about the local market,We've talked about different types of real estate.
We've talked about the fact that,in my opinion, the values are

(36:52):
going to continue to increase, andirrespective of the interest rates, it's time
to buy some real estate. Forsome of you listening, you have enough
cash available you don't even need toworry about the interest rates. And a
lot of you listening have retirement accountsfour oh one k's iras or other where

(37:17):
you have a lot of money,and the money that you have in those
respective accounts, you can invest inreal estate. And I'm going to devote
this last segment to detailing for youhow you can own investment property that you

(37:37):
don't live in by using the fundsfrom your retirement account. Now, for
those of you listening that are inyour thirties or forties or fifties and are
saying, yeah, but I can'ttake my money out without a penalty,
and I say to you, youare absolutely incorrect, which is why you

(37:59):
want to listen to this show,because what I'm about to tell you you
can verify with a few keystrokes onGoogle. Now, those of you that
have accounts in for four or onek's iras, it's probably invested in mutual

(38:21):
funds, isn't that right? Now, here's what you don't do. You
don't go to the person that nowhas your retirement account and say, I
heard this guy on the radio tellingme that I could use the funds that
are in my retirement account to buylocal Charleston area your real estate, and
there's not a penny of penalty thatI'll have to pay. Because they're going

(38:45):
to tell you willis is wrong,And what they really mean is they're ignorant
and they don't know what I knowthat you're about to know. You see,
most of the companies that act ascustodian for your retirement account are not
able to do what I'm about totell you to do. I'm going to

(39:07):
suggest to you that you find adifferent custodian to handle your retirement account,
and it's totally your choice. Youhave the ability to create what is called
a self directed retirement account. Selfdirected. It can be a four oh

(39:30):
one k an ira, traditional orwrath or other types of retirement accounts.
And if you google the term selfdirected retirement account, you'll find dozens and
dozens of articles and companies that facilitatethat process to happen legally, morally,

(39:57):
and ethically in compliance with all ternalrevenue guidelines. So let's put it to
bed the fact that it is legal, moral, ethical, and recommended that
you have a self directed retirement accountbecause it's your money. And if you
choose to move your money to acustodian who facilitates you having a self directed

(40:24):
account, then you can still ifyou choose to invest in mutual funds.
You're not required to put your moneyin real estate. It's just that that's
one of the places you have theability to do so. So you source
a self directed retirement company. Andby the way, if you're going to

(40:47):
do this, I have researched them. You want to contact me so I
can recommend to you who to useas a self directed facilitator. That company
will contact the company that now hasyour funds and they will facilitate the transfer
of those funds to you. Andwhen I say to you, you're going

(41:12):
to set up a limited liability companyin LLC, and the only purpose of
that LLC is to hold your retirementfunds, and you're going to open up
a bank account here in the GreaterCharleston area where those funds are going to
be on deposit. Now, rememberthe only purpose of that account is to

(41:37):
facilitate investing in things that are approvedby in this case the self directed firm.
Now you have a lot more choicesthan where you are now. You
don't just have a choice of differentmutual funds or things offered by Wall Street.

(42:00):
You can invest in real estate.You can still invest in all the
things you could invest in with whereyour money is now that are brokerage account
related to stock market and or WallStreet. You can be a lender of
money to other people. You caninvest in a startup company, a private

(42:22):
company like the Megawealthy Do. Youcan buy precious metals i e. Gold
and silver. You can invest incryptocurrency if you choose to, and there's
dozens of other things you can invest. You get to choose where you invest

(42:43):
your retirement funds. Now. Itjust so happens that ninety plus of all
the people that put their money inself directed retirement accounts choose real estate.
Why Because it's safe and provides themost predictable growth and cash flow. Isn't

(43:05):
that what you want with your retirementaccount? Safe growth and income. And
by the way, the income thatyou're going to receive, I want you
to look at it like it's adividend from a stock. It goes right
back into your account tax free,tax free. And if it's in real

(43:28):
estate, and you've been listening tome talk about the possibility and probability of
increase in value, it's going togrow. So it's safe. It's in
a hard asset. You don't wantyour money in paper assets. You want
them intangible assets of some kind.I suggest to you real estate's the safest.
So it's safe. You're going toget cash flow, pay cash for

(43:52):
the property, get income. Andby the way, you don't have to
pay cash. You can get aloan on the property, providing it's a
non recourse loan. Well, what'sthat. It's a loan that you get
and the only borrower is your retirementaccount. But your retirement account is not

(44:15):
liable. You're not going to loseanything, meaning the only security for the
loan you don't have to co sign. They won't let you co sign on
a non recourse loan. The loanthe only collateral is the property, so
you can pay cash if you chooseto. You can get a non recourse

(44:36):
loan if you choose to and havesomeone else manage the property. My wife
and I manage real estate, wouldbe happy to do so on your behalf,
but you could get anybody you wantmanage it. And it's just like
having money in a retirement account withyour stockbroker or whoever it is that is

(45:00):
facilitating your current retirement account. Thedifference is you get to control it all.
You could control refinancing it, youcan control selling it. You can
hold that property until it's paid forand then you or until such time as
you're of age to withdraw the money. And you know what if you had

(45:23):
some money in a roth ira wherethe taxes have been paid, or suppose
you convert your four oh one kor traditional ira to a roth where the
taxes are paid going in, andthen when it comes time that you're of
age, you can take money outtax free because the taxes have already been

(45:45):
paid. How about that for astrategy, folks. Folks, you want
to give me a call, youwant to email me, you want to
text me, you want to reachout to me and set up a time
when we can meet and chat moreabout this for your personal situation? How

(46:06):
can I help? Rick Willis eightfour three three two seven three zero one
seven Rick at Rickwillis dot com.Visit my website Rickwillis dot com folks,
it's been a pleasure being with you. I want you to have a great
weekend, and I look forward toyour contacting me so I can help you

(46:29):
keep your money safe and have growthand income. See you next week.