This episode features American IRA founder and CEO Jim Hitt. In this “fireside chat” special, Jim breaks down the reality of leveraging your IRA in the real estate industry. Members of the Asheville Real Estate News Meetup group are in the audience, providing the laugh track and asking some excellent questions.
Jim, our sponsor since the beginning of the Asheville Real Estate News podcast, has a wealth (no pun intended) of knowledge and insight to share with the group. From his first house purchase and flip in 1975, he’s been looking at ways to make his money do more for him. From taking risks with commercial portfolio loans to grabbing an opportunity to start American IRA, he’s no stranger to the ups and downs of investment and lending. American IRA has handled over $500 million since 2004!
Listen closely to this episode and hear his insider tips, like when is best to start an IRA and what kind. It’s dependent on your age, demographics, and employment status, but it goes beyond that! Jim knows how to utilize the large variety of IRA types to make as much money as possible. From there, leveraging your IRA in the real estate world is the best option. He even wades into the political waters when Rodrigo asks about Jim’s predictions for the 2020 market. What should we prepare for? We discuss his basic rule about buying a duplex, and then teach Jim the meaning of house hacking.
We also got a great conversation going with questions from the audience. What are the limitations on property purchased within the IRA? How can I roll over a 401k without paying huge taxes? What’s the best way to make a conversion from one type of IRA to another? Jim breaks it down – and that’s why he’s the best in the biz.
Thinking of making an investment or real estate purchase? Press play on this podcast first. You’ll thank us later.