00;00;00;04 - 00;00;33;29
Unknown
2008 came around and, she showed up to work on a Monday and the doors were locked. She got a phone call shortly after that letting her know that her entire life savings had been wiped away in the stock market. She had saved almost $1 million over her lifetime, and, she was planning on retiring in 18 months, and, due to something outside of her control, outside of her influence, she lost everything that she had worked so hard for.
00;00;34;02 - 00;00;55;21
Unknown
Welcome back to the Seven Figure Flipping podcast. I'm your host, Adam Whitney, and I have an amazing guest today, a good friend of mine and a wealth builder. I love wealth, I love multiplying money, and I love tools that help me do it faster and better. So what better person to bring on than somebody who's an absolute expert at this?
00;00;55;21 - 00;01;22;15
Unknown
My friend Carter Wayne from Unified Wealth. Carter, welcome to the show. Hey, man. Good to see you again. Thanks for having me on. Yeah, yeah. It's so awesome to have you. Carter came to our seven finger flipping event in Clearwater. We had 200 amazing real estate investors in the room that are part of our community. You know, just like high level guys doing a lot of, you know, volume builds and beautiful businesses and all these people make a lot of active money.
00;01;22;15 - 00;01;49;22
Unknown
So then the next natural question I was telling is, how do I multiply it? How do I preserve it? How do I, use it in the best way possible? And that's why Carter came out. And Carter has a really amazing backstory. So, Carter, can you just talk about, how unified Wealth came to be and what it is and what you guys do specifically?
00;01;49;24 - 00;02;10;11
Unknown
Yeah, no. Thanks for the question. So again, the that event that you guys had was such a mind blowing, vision into kind of what you guys do and who you help scale and build wealth. And so we're grateful to be a part of that. So yeah. So, so I'll just back up a little bit. Unified wealth were think of us as a financial services company.
00;02;10;11 - 00;02;29;13
Unknown
So we provide we provide the tools and the foundation for investors, like all of us in real estate, to not only be able to as we go and utilize real estate as a financial vehicle, but be able to, number one, kind of protect what we're, we're going to go out and create, minimize our taxes legally and then build wealth for the future.
00;02;29;13 - 00;02;47;28
Unknown
And so what we do is we educate, have heavily educate on these tools that a lot of people don't realize, where they may have a little bit of information on them. And then we provide tools. And what we specialize in is on, self-directed retirement accounts. Now that seems like a, a pretty weird business model to get into.
00;02;47;28 - 00;03;02;21
Unknown
So not everybody, you know, I certainly don't wake up, you know, my 20s, like, hey, man, I can't wait to help people build wealth for the future in retirement and do it in a way that's tax free. You know, I wanted to be a firefighter. I think it's something like that as a kid. So, kind of my story growing up, you know?
00;03;02;21 - 00;03;18;07
Unknown
And really, what led me into unified Wealth is I was taught the same, thing that I think a lot of folks on this and just in general here in the States are taught, which was that I need to get a really good job. First of all, I need to get a good education and I need to get a good job.
00;03;18;09 - 00;03;34;28
Unknown
And then if I find the right job, that pays me relatively well. And I find a job that has A41K plan. You know, if I check all those boxes and I do what society tells me to do, I'm going to be able to, you know, kind of live my life and, you know, wake up at 65 and kind of do it, start to enjoy life.
00;03;34;28 - 00;03;53;09
Unknown
And so I watched my, my mother play that game, you know, what I like to call the the net worth game of, you know, she worked really hard and she was the one that taught me all of these things about jobs and savings and saving and saving and, Man, I just saw this woman, do it.
00;03;53;15 - 00;04;20;09
Unknown
You know, she had, the best job of anyone I knew at the time. And she worked for a large financial company. Saved her money and, 2008 came around, and, she showed up to work on a Monday, and the doors were locked. She got a phone call shortly after that letting her know that her entire life savings had been wiped away and the stock market, she had saved almost $1 million over her lifetime.
00;04;20;12 - 00;04;47;18
Unknown
And, she was planning on retiring in 18 months, and, due to something outside of her control, outside of her influence, she lost everything that she had worked so hard for. Never went on a vacation. She had planned on landing at 62. Planned on starting to, you know, kind of come to and start to enjoy the life and, watching that devastation.
00;04;47;18 - 00;05;05;19
Unknown
She was also, you know, kind of jumping into some real estate. She had four rental properties that, again, nobody taught her how to do it the right way, put it in the right, you know, entity structure and protect that. Nobody taught her about self-directed retirement accounts, where she could actually control that retirement money and invest into real estate and other things outside of the stock market.
00;05;05;21 - 00;05;25;21
Unknown
And man, it just it went away overnight. And, the devastation and the toll that that took on her emotionally, you know, mentally, physically, she just wasn't feeling good on a Wednesday and, went to sleep. I got a phone call at 5 a.m., let me know that she had passed away in her sleep. You know, nine months before she had planned on retiring.
00;05;25;24 - 00;05;45;22
Unknown
And, you know, the realization of that of, you know, after kind of taking a step back and being like, how can this happen? Because, you know, she she legitimately checked every single box, like, everybody, you know, I was taught work super hard, trust the boss, trust the financial, you know, advisor or financial advisor or financial institution or Wall Street or whatever, and you're going to be fine.
00;05;45;22 - 00;06;18;07
Unknown
And it just didn't work out. And so when I finally came to and it took months and months and months later of like realizing that, you know, that's not that's not a real that's not a true path to, to financial success and financial freedom and wealth and, retirement. And so, I started to study this stuff, and I did what, you know, what a lot of all of your, your folks that are in the, seven figure, ecosystem is I started to reach my hand out and I started to learn from professionals in this space.
00;06;18;07 - 00;06;40;27
Unknown
And so I learned asset protection. I had mentors in finance and in business and, structuring. And then I went out and I figured out how to build wealth for myself, protect it, build for the future. And I started to help the people around me, and we created a company that went out on this mission to help as many people that are willing to listen to the message, to be able to build wealth and protect it.
00;06;40;27 - 00;06;57;07
Unknown
Now, look, I'm I'm a real estate guy like you out of my. I've been doing it for over 20 years. My job is to teach real estate. My job is to teach people how to keep it and protect it and build for the future. All inside these specific tools that hopefully will kind of, you know, touch on a little bit today so that that's really powerful.
00;06;57;07 - 00;07;23;13
Unknown
Carter. I think, I love to work with people who have a purpose and passion behind what they do. I always find that, you know, money is a constant, right? We all need to make some amount of money. We all desire it to, you know, make more money and grow and and no matter what social, economic class you are, money is important.
00;07;23;15 - 00;07;46;25
Unknown
It's the scoreboard. It's the currency that allows us to do anything at all. So it's a constant. We there's no getting rid of it. It's not evil, it's not good, it's not bad. It's just a thing and a tool that we have to have. And the people that I personally love to do business with are the people who have a purpose and passion behind what they're doing.
00;07;46;27 - 00;08;14;00
Unknown
Because the money you'll find when you learn the skills, it's actually easy to come by to your point. And with your powerful story, it's also easy to lose. So it comes in. It goes to. Our job is to be a good steward of the capital and to put it in places that does good, good for your family, good for your community, good for your church, good for people around you.
00;08;14;06 - 00;08;40;26
Unknown
And your story just resonates with me so deeply because I can just hear. I can hear the passion and I can hear that. I can hear the experience. I can hear the emotion, the experience that you had to go through. And, your mom went through and it's it's, it's preventable, though. There are things you can do to not end up in that situation.
00;08;40;29 - 00;09;09;19
Unknown
And there's but you can't if you don't know about them. If you don't know about them, how could you possibly use it? So I'd like to dive into some of those tools that are most commonly used, but incredibly powerful for investors. And before you go into that, what I'll say is that, we work with Unified Wealth at some beggar flipping, like our staff is working with Unified Wealth for our staff members.
00;09;09;19 - 00;09;30;25
Unknown
The in place on the team have an opportunity to work with unified Wealth to build their own retirement accounts with them. And, they they help serve our team. And it's we're just immensely grateful for it. So this is something we are deeply into with Carter and his team. And we love. And it's really important to us, and we know it's important for us to share with other people.
00;09;30;25 - 00;09;50;21
Unknown
So I would love to know, Carter. You know, if somebody is like, Holy crap, what are they talking about? Do I need this? Like, what are the things that they do need? What should they be doing? What should they be using? Yeah, no, that's a great question. So we're going to start with so kind of the, the journey that we're going to go on, we're going to land in the destination of a retirement account.
00;09;50;21 - 00;10;11;08
Unknown
Right. And there's a very specific type of retirement account that we're going to talk about. And there's a couple couple different types, but the self-directed retirement account is going to be kind of the meat or the, the substance of the conversation. But we're going to what I would like to do is start with everyone that's watching this.
00;10;11;10 - 00;10;30;24
Unknown
Is in real estate one form or another. And there's a couple different ways to invest in a real estate. You know, the way that I started in real estate is, you know, I started out as Carter, the guy, that had a little bit of money that knew that real estate was going to be the financial vehicle that I wanted to use, but I didn't understand, like having doing it inside of a business.
00;10;30;24 - 00;10;50;15
Unknown
Right. So I'm going to I'm going to talk about the business owner, because I believe that all of us on this, call are our business owners, one form of another. So one option is I take some money that I've earned somehow, some way. Right. Typically what the. You know, the biggest source of income here in the States is a job.
00;10;50;15 - 00;11;13;05
Unknown
So a lot of folks that are getting involved in real estate or, you know, have a job, they've they've had, you know, some some money that they've earned. Well, that money's been taxed. They take their tax money. This was my experience. I took my tax money, I went out and I started investing in real estate. And the moment that I made that money on that particular deal, I touch that money, I get taxed again.
00;11;13;07 - 00;11;29;05
Unknown
Okay. And so now not only my taxed again, it's not just a normal income tax, it's that short term capital gains tax. And I didn't realize that that was up to 46% depending on the transaction that I did. I was like, look, man, that's pretty crappy, but at least I made some money. And I was kind of pumped, but kind of confused.
00;11;29;05 - 00;11;44;24
Unknown
But no one was really teach me this stuff. So then I took my tax, taken money, and I went out and I invested. I made some more money. And then, you know, when I found my taxes, like, dude, that's pretty bananas. Like, I'm getting, you know, hammered in taxes. And so then I learned about kind of the proper entity structure.
00;11;44;24 - 00;12;04;09
Unknown
And, so the first suggestion is, you know, as we're doing business, we need to have some type of, so when we're doing real estate, we need to have some type of business structure, whether that's an LLC, a C Corp and S Corp, you guys have a group that teaches that stuff. My job isn't to teach. I'm just saying you need to have at least some type of business.
00;12;04;09 - 00;12;21;26
Unknown
Okay? Now the business goes out and starts investing into to real estate, and the business starts to make money. And the business gets to have a bunch of expenses, and the business gets to have deductions, and the business gets to have write offs, and the business gets to pay your W-2 income, and you get to play in all this tax code because you're a business owner.
00;12;21;28 - 00;12;45;10
Unknown
Okay. Well, the really amazing tool that the government came out with back in 1982 was a businesses 400 and K plan. And so like for me out I you know when I back when I was younger I had you know I had the W-2 job and I had the W-2 for one K plan. Right. I was a guy that had a job that had A41K plan with my with my job.
00;12;45;12 - 00;13;06;19
Unknown
Well, what a lot of people don't know is that a business owner can also have a businesses for one K plan. And so we specialize in solo form. Case there for your business, whether it's a C Corp, S Corp or LLC. So let me kind of circle back around when the business goes down and start making money. It's doing deals and it's flipping deals and it's doing some rehabs and it's getting some rentals or whatever, whatever.
00;13;06;19 - 00;13;25;13
Unknown
It doesn't matter what path you're going down in real estate. That business gets to participate because your business, you get to participate in all, you know, almost 10,000 pages of tax code. Part of the guy I didn't get any tax deductions there was like, cool, man. You have a really cool hobby. We're going to tax the crap out of you.
00;13;25;15 - 00;13;58;07
Unknown
But as a business, I get to play around in that tax code. If I have my businesses 400 and K, which is the sole form of K, my business can legally, morally, ethically contribute up to $77,000 of my business income into my own retirement account. And the cool part is because the solo for one K is a self-directed retirement account, I can take that money that I contribute into my solo for one K, and I can deploy it back out into real estate, I can deploy, I can be a hard money lender, I can do gap funding.
00;13;58;07 - 00;14;25;05
Unknown
I can buy and hold, I can rehab, I can rent, I can host, I can do whatever because it's a self-directed retirement account and I get all the same cool tax advantages inside that retirement account, which means I don't pay any taxes on the growth legally, morally, ethically. So we have to understand what what I did not understand is I didn't understand two things when I got into this industry and when I got into investing, I didn't realize that taxes are a game.
00;14;25;07 - 00;14;46;19
Unknown
It's 100% a game. I did not realize that retirement was a game. There are rules to the game of taxes. There's rule the rules to the game of business. There's rules to the game of retirement. But if I don't understand that there's rules. And number two, if I don't have the tools that allow me to play the game better, I'm going to stay in the same status quo and I'm going to work super hard.
00;14;46;19 - 00;15;03;14
Unknown
I'm going to be taxed every single time I turn around and cough and sneeze. And it's just this taxation after taxation after taxation. So the game of and look, I'm not here to say jobs bad. I'm not here to say if or when cave's bad or Kyrie's bad. I'm not. I'm here to say that there are options right.
00;15;03;14 - 00;15;20;09
Unknown
There are other tools that can be used in conjunction with the job and the forum. One K but again, the business that we're in, Adam is investing in business. And, you know, being an entrepreneur and building while through utilizing real estate, which you and I both agree is the best investment in the world, creates more wealth than anything in the world.
00;15;20;10 - 00;15;44;20
Unknown
We know that historically, year after year after year. So as we're using real estate as that financial tool, like you said, to be able to build wealth for ourselves or families, to be able to build this legacy, whatever that means to everyone, right? To be able to to create that life, you know, using our imagination to be able to build that life, using real estate to achieve those things and get us to that destination.
00;15;44;23 - 00;16;15;01
Unknown
There's a couple tools that we need in order to make that journey a heck of a lot faster, a heck of a lot more profitable, and get us there at a lot quicker pace than than otherwise. We would have. And so the self-directed retirement account, the solo for many K for business owners, and again, if you're not a business, if you don't have a business and you're just a sole proprietor, that's cool too, but you're still not going to be able to participate in all the tax code that you could if you have, like an actual LLC as Corp or C Corp.
00;16;15;03 - 00;16;35;22
Unknown
And again, seven figure has a group that teaches that stuff and helps you with those tools. So I highly suggest, setting up a business if you don't already have it. But if you do have it and it is making money, or even if it's not making money, and you've had a lot of expenses that have come out of your business, the solo for one K is kind of the secret sauce.
00;16;35;22 - 00;16;56;07
Unknown
It's the it's the tool that allows you guys to play around in that tax code. And minimize your tax liability. And then inside the solo form K go out and invest. So that's that's phase one. No matter how many times I hear this I take notes on it because they're like you said, there's like 700 pages of tax code or something.
00;16;56;07 - 00;17;19;23
Unknown
It's it's 10,000. Yeah, 10,000 pages. And, it is designed to benefit the business owner, to benefit the real estate investor, because that makes the economy go. And that's good for the administration and that's good for the United States. So there's a reason why they want you to benefit from it. Unfortunately, they bury it in 10,000 pages of tax code.
00;17;19;23 - 00;17;38;05
Unknown
So you have to either get them start reading today and you'll be done in three years from now. And you can kind of figure it out, or you work with somebody who knows kind of the most direct route to use it to the best benefit possible. And every time I hear you talk, Carter, I'm like, oh, man, I got to relook at that.
00;17;38;05 - 00;18;01;02
Unknown
Am I doing that? I gotta like come back to that. That's like, it's that important to your growth. So as I hear you talk about these things, I kind of want to what is what's something that, you know, that real estate investors should be doing, that they don't know, they should be doing, and they could go start doing like right now.
00;18;01;03 - 00;18;21;21
Unknown
Like, what is something what is the one thing? And we'll go into many things. But what's the one thing right now? Like, I don't even want to hold that to the end. I want them to know right now this is something you probably don't know that you should be doing, and here's how to get help doing it. So I would say so we'll talk about I'll use myself as the example because I didn't know this stuff.
00;18;21;23 - 00;18;35;23
Unknown
So when I decided, hey man, you know, this job I watched my mom. It did not work. I don't want to play this game anymore. I need I want to do it differently because I saw these other dudes out here that were making money in their real. You always hear, like the real estate guy, the guy that's killing.
00;18;35;23 - 00;19;10;07
Unknown
And I was like, what are they doing? What are they doing? And what I realized is that they were using retirement accounts to build wealth. And I'm like, well, dude, I just quit my job. I have a I had A41K. What I didn't understand is I didn't understand that my retirement account and I had a, I had a Roth IRA and I had A41K what I didn't understand is that money that was mine in a retirement account, I could move it into my own control in a self-directed retirement account.
00;19;10;07 - 00;19;24;07
Unknown
Still a retirement account, but I could control that money and I could use that money to go out and invest in a real estate. And I could do it in a way that was tax free, and I could do it in an account that was protected, and I could do it in an account that nobody could take from me, and I could do it.
00;19;24;08 - 00;19;48;10
Unknown
An account that's actually going to build wealth and things that I believe in, that I know that I trust. I realized that I didn't have to trust Wall Street. I found out that I didn't have to just stick it into some mutual fund, or I just didn't have to put it into some, you know, bond portfolio. And I was like, dude, I had I had quite a bit of money, you know, I had the W2 job for quite a long time.
00;19;48;12 - 00;20;06;12
Unknown
And when I realized that I could actually move that money out because of my fear was like, that's my money's going to happen, is the exact same thing that's going to happen to my money is that I did it with my mom, so I don't have any control over that. I don't know what's going on. When I signed my my papers on my 41K, you could have been talking Mandarin Chinese to me.
00;20;06;12 - 00;20;20;09
Unknown
I didn't know what I was signing. It was like, we're going to do this with your money and it's going to go to this and, and mid small large cap, blah, blah, blah. And I just sign on the dotted line willfully. No. Like willfully just like take money out of my check and put it into this thing that, I don't know, some mythical thing.
00;20;20;12 - 00;20;40;27
Unknown
And I finally, once I realized that I could take that out of there, which was a safety net for me, because I saw what happened to my mom and I was able to control that money. I was like, oh my gosh, now I have some capital that I can actually go out and start to do this. And as I make money, it's going to come back to me and I don't have to pay a fee.
00;20;41;00 - 00;21;20;24
Unknown
It's not at the mercy of the market. Doesn't matter if the country goes to war with another country, my money is safe in my own account, and I'm deploying it into the stuff that I want to invest into. And so I think, you know, I been doing this a long time. And even though, you know, we live in a day and age where information is everywhere we can, we can learn this stuff, you know, but it's still, I think, to your question, a lot of folks don't realize that they have their own capital somewhere, someplace that they can control and that they can deploy into, the things that they're learning.
00;21;20;26 - 00;21;45;29
Unknown
Another thing that people don't realize that I love sharing with folks is that in this retirement account, and I'm going to talk about the solo for one k. So let's say that someone that's watching this has, traditional IRA or for one K or A 403 B or some type of retirement account, and they're like, well, yeah, I have got some retirement money, but I'm in a 35 year old or I'm 40 years old, you know, it's still a retirement account.
00;21;45;29 - 00;22;04;05
Unknown
How is that going to help me now? Like, you know, that's 30 years in the future. Like, might as well be a billion years. How is that going to help me now? Well, kind of. The cheat code inside of a solo for one K is if you have money that we can roll over into the solo for one k, and the way that I build it, it's a bank account, a checking account.
00;22;04;05 - 00;22;23;03
Unknown
So if if we roll this money over into your solo 41K checking account, people don't realize that they can borrow that money to themselves as a personal loan, and they can do whatever they want with that. They can fund a business, which a lot of our folks do is they're like, dude, I didn't realize I got this money over here.
00;22;23;05 - 00;22;34;11
Unknown
I want to roll it into my own retirement account, and I want to take I want to borrow some of that money. I don't want to fund one of my LLCs, and I want my LLC to go make money. I don't want my LLC to pay me W-2 income, and I want my LLC to pay off some debt.
00;22;34;11 - 00;22;49;17
Unknown
I want my you can do that stuff. So there's a lot of cool ways that we can legally, morally, ethically move money around to help you guys build wealth now, as well as for the future, or for the folks that are like, you know what, I just want to build wealth for the future. So hopefully that answered your question.
00;22;49;17 - 00;23;06;21
Unknown
I know I go off on tangents, man. It's super power and super powerful, Carter. And I know, like you, you live it, you breathe it, you talk about it every day of your life and we hear it. So like, just keep this in mind. Like everybody should put their selves in context here. This is something you're an expert at.
00;23;06;21 - 00;23;30;19
Unknown
You talk about every day. This is something. If you've been in the real estate industry for a little bit, you've at least heard here and there, or you know, somebody doing it, but you're not hearing it enough. And it took me coming to these meetings, seeing the professionals in your space. And and you guys talk about this stuff a long enough time out of here 3 or 4 times before I go, oh my gosh, a light bulb moment.
00;23;30;19 - 00;23;49;24
Unknown
I need to do this. It is a compounding, extremely important tool that I need to be employing in my business. And I'm not. And then I have to then I get it and then I'm doing it and I'm like, I'm on the other side of it going, oh my gosh, look how powerful this is. This is insane wealth building.
00;23;49;24 - 00;24;12;13
Unknown
It's a cheat code. It's a cheat code. And I don't think it's hard for people to like, wrap their mind around it until they hear it multiple times. Multiple multiple times. Right. So now I think that's I think that's great. And and you're in a lot of conversations with people just like me. And just like everybody listening to this, who's getting ready to start doing real estate is doing real estate, has a scaled up real estate business.
00;24;12;15 - 00;24;44;25
Unknown
What are some of the most common things that you see for people in our space? That once they get with you and they start doing it, like, what's that light bulb moment for them and what have you seen it done for some of these investors who start to do these types of things, like the self-directed ads and, and what's interesting about what you talk about to Carter is like, everybody here is self-directed IRA, but they don't really know how to set it up so that they can do the things you just talked about, where you can get access to that capital, to do things that you previously didn't even think you could do.
00;24;44;27 - 00;25;00;14
Unknown
So I'd be curious, like, okay, you get somebody like me, you're like, gosh, you're crushing it in real estate, you've got this capital. Or maybe you're like, you don't even have to have a whole ton of capital. I just got to get started, right? And they get started and I'm like, what's the big light bulb moment you're seeing with these clients?
00;25;00;17 - 00;25;19;24
Unknown
Man, I could go on for there's so many different, subject matter, you know, topics that I can talk about light bulbs, but I would say, I would say for there's kind of a two part. So for the beginner we'll talk about kind of light bulb moment for the beginner. And then we'll talk about for the like the advanced person that's been doing it for a while.
00;25;19;27 - 00;25;45;23
Unknown
So for for the person that's just starting out in real estate that we talk to and they're like, look, you know, I, I have all these, kind of goals and I'm heading this destination. This is all the things I want to accomplish. However, I just don't have the capital, because they believe that in real estate you need tons and tons of capital.
00;25;45;25 - 00;26;00;08
Unknown
And so they're starting out, and we we do what we do. Same thing with your folks and just everyone we talk to, we take a deep dive and we call it a wealth session. Right? We take a look at where they're starting, what they're trying to accomplish, and then we help them kind of move the chess pieces around by highly educating them on these tools.
00;26;00;11 - 00;26;23;05
Unknown
So for the beginner, a lot of times people that are they believe that real estate takes a ton of capital, and they don't realize that the money in their retirement account, is the thing that's going to create the capital for them because they already have the capital. It's just in somebody else's control. So when we explain, hey, look, you have this money over here, it can be moved into your own account.
00;26;23;08 - 00;26;47;00
Unknown
From that account, you can either invest from it so you have your own capital, you're deploying into real estate or to that loan component. You can also borrow that money. And you can find your own business. And your business then deploys that money because as you know, like if we're business owners and we want to go out and we want to do a real estate deal, there are lenders that will loan our business money.
00;26;47;02 - 00;27;13;18
Unknown
And if our business has a little bit of capital in it, we can get loans, whether it's hard money gap funding or conventional loans or whatever. But part of the retirement account money can be moved into the business. And so they can get larger loans or they can get the ability to access capital. And so once people understand that kind of all the fear and all the doubt and maybe the uncertainty goes away because light bulbs go off and like, holy crap, I actually do have capital.
00;27;13;20 - 00;27;34;15
Unknown
It may be ten grand, 20 rounds or whatever it may be minimum, maybe nothing. But to understand that there are solutions or there are options. And so that's kind of that the the light bulb moment for the beginner realizing that actually there is a solution, and there is some hope for that type of person. And it's not just all about I need, you know, hundreds of thousands of dollars.
00;27;34;18 - 00;27;57;09
Unknown
There's so much utility in a 20 or $30,000 account like, oh my gosh. Yeah, I, I could you know, many people need get funding for a deal where they need 30 grand and honestly, I could charge them, you know, for a short period of time, for six months. I can charge them three grand. And I'm I mean, that is a massive return on your capital.
00;27;57;12 - 00;28;23;09
Unknown
Like three grand on 30 grand and four months is insane. So and so that what that means to me is I can grow that 30 grand fairly quickly. I can grow that 30 grand, up over 50 or 100 grand and no time at all. And then if I'm really compelled, I can then go throw it into a, you know, like a commercial multifamily deal as a limited partner, you know, and just stash away and let it double every five years, things like that.
00;28;23;09 - 00;28;45;21
Unknown
So it's super, super, super, super powerful. And I think people have to really think about this now because you're right, a lot of, especially the newer, folks will be like, I don't have enough cash. It's like, you know, you do have enough cash. You're just not allocating it appropriately. And you're living with the scarcity mindset instead of instead of committing it to the future.
00;28;45;21 - 00;29;03;28
Unknown
And, oh, by the way, even if you put it in that, you can bring it back out in a loan if your business needs that money. So it's not the end of the world. It's not like you have. You still have liquidity, which is the really, really important part here. You saw the ability to access that capital back if you need it for something in your business or to invest in something.
00;29;03;28 - 00;29;28;02
Unknown
So that's the part I think most people are getting nervous about, especially early on when, you know, they're just building their business, are just starting to get some momentum and bring cash in the door. But they everybody I talked to who waits to do this is speaking from a position of regret. I wish I would have. I wish I wouldn't have put all my eggs in one basket, and I would have cooked some up over here in a retirement account.
00;29;28;02 - 00;29;54;22
Unknown
I wish I would have not just did this. I wish I would've did this, this and this too. And it's like, don't do that. Just make the decision now and commit to it. It doesn't have to be like that. Massive. So, I agree with you, I can I, I personally have been the person speaking from regret for waiting too long to do something, and it's happened to me multiple, multiple times and, you know, so for one case or even, you know, for me and my whole life policy, I waited too long to do it, as an example.
00;29;54;22 - 00;30;14;20
Unknown
So if you're listening to this and you're thinking, I think I'm pretty sure I need to do this, like talk to a professional like Carter and his team and understand it deeply and understand how it works and what you could use it for and the liquidity you could or couldn't have. And and then make a decision. But don't sit on it.
00;30;14;20 - 00;30;39;16
Unknown
Don't go, oh, that sounds like a good idea. And then wait till you hear me and Carter on another podcast next year. Like, do something now you're you're 5067 year old self will thank you for doing it. And I keep going. I was just going to circle back. Right. You tell this story. You you lead with this story where, the person's doing all the right things.
00;30;39;16 - 00;31;01;21
Unknown
She's doing all the right things. She was school gets a good job, saves up $1 million, and the stock market crashes and left with nothing. She has a few houses and passes away. It's like why that didn't have to happen. But it will happen. In the absence of knowledge and action. Correct? Correct. And that's what we want to do.
00;31;01;21 - 00;31;19;27
Unknown
I mean, to that point, Adam, you know, we just want to educate. If I do nothing right, it must say, you know, the folks are watching this. You guys schedule an appointment and I'll give you a way to be able to do that. We'll take a deep dive and make sure that you at least understand what your options are and how these things could potentially help you.
00;31;19;29 - 00;31;43;03
Unknown
We just want to teach so that as you have the knowledge, you guys can base decisions on what's best for you and your family and if they make sense for you. And so, you know, that's and there's so many there's so many, light bulb moments for that. The, the new investor that's coming on onto real estate, kind of getting on the beam and heading in the direction that you and I have been on for a while.
00;31;43;05 - 00;32;04;13
Unknown
There's a lot of things that we can teach them that can help them reach that destination a heck of a lot quicker. Now, whether that's a Roth IRA for that W-2 employee, man, there's nothing more attractive than building wealth tax free forever inside of a, particular account. And we can talk about that. And then, you know, you have to ask the question, you know, what's kind of the the.
00;32;04;16 - 00;32;28;09
Unknown
The light bulb moment. I'm going to talk about the biggest one for people that have been kind of the seasoned professionals kind of in the real estate space, in business and making money. And when we take a deep dive on how big of a deal the solo for one K is for their business, and how much taxes they have been paying unnecessarily.
00;32;28;11 - 00;32;49;16
Unknown
It's like people are just like, number one, they're super bummed and irritated that they weren't really taught this stuff. Or maybe they had heard of the solo for one K. And I'll keep it very current. Talking to a guy yesterday, he's been paying. Well, we'll just say, about 70 grand a year in taxes on his real estate business.
00;32;49;18 - 00;33;05;03
Unknown
And I was like, dude, you need to fire your accountant because they should have told you to have this thing, because over the last seven years, you could have been putting that into retirement account and building wealth tax free almost year after. There's like, what's that? Almost $1 million, almost $1 million, almost $1 million. So here's the thing.
00;33;05;03 - 00;33;21;02
Unknown
You guys like, we're either stroking a check the United States Treasury every year, or we're giving that money to ourselves in a retirement account. And from the retirement account, we're building wealth and the things that we want to make money in, that we believe that we know that Adam and his team and his organization are teaching you. Right.
00;33;21;02 - 00;33;35;25
Unknown
It's a proven system. You're not guessing your way through it. They're just like, do this, do that, don't do that. And you go through this thing. And if I'm able to use my own money in a retirement account and I don't have to pay taxes on that money, dude, I'm doing it every day. Every day, the week, every day of the week.
00;33;35;27 - 00;33;56;26
Unknown
I love it. I'm with you. I'm with you, man. I think it's great. And I, I also wanted to say I'm grateful for you. And I don't know if people know this. Like, you guys came, you guys came. You were participant. Our event. Your team is amazing. We don't let just. We are so strict on who can come and participate inside of our community.
00;33;56;28 - 00;34;17;15
Unknown
And because your what you do is a reflection of us. If somebody comes into our community and, maybe they're a service provider or some something else other than a real estate investor, which, by the way, they come to our events that are not in our community, and they don't do well by our people are people look at us and we're accountable to that.
00;34;17;15 - 00;34;41;09
Unknown
So we're very we're very character driven. And you guys were such a perfect match. And then you're serving our actual staff at Seven Finger Flipping. And our team, on the wealth side and the financial side. And it's just like, I'm just grateful for that, man. I'm grateful for what you do. And I would say everybody listening to this at a bare minimum should schedule a educational call with you guys.
00;34;41;09 - 00;35;10;07
Unknown
I don't care if you're ready to do it. You don't know if you're ready to do it. You know you're ready to do it. You these guys are great teachers, and it's like having $1,000 an hour consultant give you really great advice. So my my recommendation and what I would tell everybody to do listening to this is we'll put a, whatever Carter gives me for a booking link for people to talk directly to him or his team, like, we'll put it in there and you guys can jump on.
00;35;10;07 - 00;35;28;08
Unknown
And I would encourage you at least just to take the 30 minutes out of your week to have the conversation. It can legitimately change the trajectory of your financial position or your life. Yeah. No. Yeah, I love that. And number one, it's been an absolute honor and just such a blessing for us to be part of this ecosystem.
00;35;28;14 - 00;35;43;07
Unknown
All I want to do, all we want to do is we want to just educate. And if we can help them with the thing, great, we can build the thing. But them understanding and knowing that you have options and what that looks like, maybe you're not ready. Maybe you're kind of in the midst of it, right? Mix of it right now.
00;35;43;10 - 00;35;58;19
Unknown
Maybe you're planning, but at least you can base decisions and plan based on knowledge. Because look, man, if they're with you guys, they're going to make money in real estate. Like it's like whether it's tomorrow and or a week or in a month, like you do what you guys tell them to do. We just know that that's the end result.
00;35;58;25 - 00;36;17;24
Unknown
That's right. What unified want us is we come alongside that and we say, hey, look, as these guys, as you're starting to make money, here's what you do with it. Here's how you protect it, here's how you build for the future. So it's this very beautiful, relationship. And we just want to come by and kind of help build an ecosystem around the person.
00;36;17;27 - 00;36;37;25
Unknown
So that as they're making money, they're able to keep it. And minimize their taxes. And so, I mean, I can give you the link right now or you can just put it on. I mean, it's it's you tell me it's talk to unified.com/f seven f. So talk to unified.com/the number seven f. You can you know click on that.
00;36;37;27 - 00;36;55;20
Unknown
We'll put in the notes to everywhere. So people could just easily click. But we'll make sure we'll definitely make sure they have it. And you guys have just been such a, a beautiful partner. You made such a great impact on our people and our community and our staff that, it is our honor to kind of share you guys with the world.
00;36;55;20 - 00;37;13;12
Unknown
Sometimes we get something that we love in our community, and we're a little reluctant to share it outside because it's like we're giving up. You know, you're giving up the goods to everybody now. Now we lose a little bit of a competitive advantage, but the truth is, is like we've learned that this industry is is you will go further with abundance.
00;37;13;12 - 00;37;32;19
Unknown
And, if we have something great to share, we'll share it. And this is one of those things, Carter. So I like I said, man, I'm grateful for you guys. I'm grateful for everything you do for the the real estate industry and for the financial industry and kind of bringing those two things together. Man. Thank you. Yeah, brother.
00;37;32;22 - 00;37;53;02
Unknown
Again, nothing makes me happier when we get to hang out and educate people. And like you said, money always follows value. So. So we want to provide the value so that people can put themselves into a position where they can go out and create as much wealth as possible. There's a reason why Jeff Bezos, the dude that owns Amazon, paid a half a percent in taxes last year, a half a percent.
00;37;53;04 - 00;38;15;19
Unknown
We just teach you the same stuff. It's the same tools, right? We're just using real estate as that financial vehicle. So man, anything that I can do for anyone on this call, we just want to educate. We want to help. We want to spend our time, and we want to make sure that you walk away from that, that call enlightened and know that there's actually hope, right, that there's actually a solution and there's actually a path.
00;38;15;25 - 00;38;29;22
Unknown
Look, I'm not here to teach you. Adam's job is to teach you the real estate stuff. I have zero doubt that. Like, he's the guy to teach you this stuff. I'm just going to teach you how. How to make that go a little bit quicker. And not have to just give it away every five seconds and protect it.
00;38;29;24 - 00;38;50;26
Unknown
I appreciate it, man. Cool. Thanks. Thanks for, thanks for coming on. And and for everybody listening. Check the link in the show notes. I want you guys to talk to Carter and his team. I think it's really important for your businesses. I appreciate you guys coming back and listening to this podcast as always, send us feedback. What do you love?
00;38;50;26 - 00;39;10;12
Unknown
What do you not love? I want to make sure you're getting the most value possible. We're not even scratching the surface over here. We're 850 something episodes and million plus downloads, and we're not even scratching the surface. There's so much more we can give. I'd love for you guys to tell me what you need today in your business, and I will make sure we bring the value to you.
00;39;10;17 - 00;39;12;25
Unknown
Thanks for listening and we'll see you on the next one.
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