Multifamily Legacy Podcast 102: eQRP to UBIT: Alphabet Soup Menagerie Mess to Get You Taxed
How and where can you unlock money that you never knew you could use to invest in real estate? Enhanced Qualified Retirement Plan (eQRP).
Today’s guest is Damion Lupo, author of The QRP Book. He's invested in real estate for 20 years and owned more than 50 businesses. Damion knows a thing or two, or just about everything when it comes to raising private and making passive money.
Topics on Today’s Episode:
- Rookie Mistakes: Real estate investing takes more than books, inspiration, and buying property
- Reset Switch: After losing $20 million, Damion started over to focus on future
- Traditional Mutual Funds: Smoking a bunch of hope-eum as retirement strategy
- What are you, stupid? Using retirement money to do real estate is legal, if you know or learn how to do it correctly and control it
- In-kind Rollover: Don't have to pay unrelated business income tax (UBIT) with enhanced qualified retirement plan (eQRP) under 401 Section
- Seal the Deal? Questions to ask and how to avoid fear of missing out (FOMO), or running out of retirement money
- Emotional Rollercoaster: Stock market gives an illusion, not a paycheck
- If U.S. President doesn’t pay taxes, why should we? Why not? Use same code
- Assets Under Management (AUM) and eQRP: It’s not about what you make, but what you keep by taking action
Links and Resources Mentioned:
- Damion Lupo
- Damion Lupo’s Phone: Text “eQRP” to 72000
- The QRP Book
- Enhanced Qualified Retirement Plan (eQRP)
- Total Control Financial
- Unrelated Business Income Tax (UBIT)
- Unrelated Debt-Financed Income (UDFI)
- Individual Retirement Arrangements (IRAs)
- Edward Jones
- Charles Schwab
- Real Estate Investment Trust (REIT)
- Money Magazine
- Kiplinger
- Financial Adviser
- Robert Kiyosaki
- Tom Wheelwright
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“It's what most people are doing. They're all high on the hope, instead of actually being pragmatic and realistic.” Damion Lupo
“There's all these options where you can take that money and start investing. Some people know about it, but they're doing it wrong. Most people don't even know about it.” Damion Lupo
“The reality is, you can take your money and you can use retirement money.” Damion Lupo
“My entire mission is to break those shackles and to free people from bondage. It's not a bondage that you're stuck in for life, unless you choose to be there. It's really a choice.” Damion Lupo
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.