Month: March 2017

30 Mar 2017

Self-Directed Retirement Accounts – Or How You Can Use Your Retirement Funds to Invest in Real Estate

Do you ever think “I’d love to invest in real estate, but I just don’t have the money?”  Well, what if I told you that you might be sitting on tens of thousands or hundreds of thousands of dollars available for investing and you don’t even know it?!

That’s how I was, and I was pretty blown away when I found this out.

In January 2016 my husband and I went to a real estate conference – the Real Estate Guys’ Secrets of Successful Syndication seminar.  There we learned that we had way more access to cash for investment than we thought about – via our retirement accounts.

Most people have IRAs or 401k’s in plans offered through their employers or through one of the bigger financial institutions – Fidelity, Ameritrade, Charles Schwab, etc.  In these accounts there is a set of options of what you can invest in – generally a pretty limited menu of mutual funds and bonds.

I remember being very annoyed at one point because I wanted to put the bulk of my money in a low-fee S&P 500 Index fund (hey, if it’s good enough for Warren Buffett…), and that option wasn’t even available.

There’s a different way of using your retirement funds though – one that gives you a LOT more freedom.  It’s called a self-directed IRA (SD-IRA) or self-directed 401K (SD-401K), and barring a small list of prohibited transactions (basically you can’t invest in collectibles, life insurance, or things that personally benefit you and your family), you can invest in anything else – especially real estate.


Many of the investors in our New Mexico apartment deals have invested via their SD-IRAs.

My husband converted much, though not all, of his retirement funds into a self-directed 401k and has since used those funds to invest in a syndication of a 496 unit complex in Atlanta.  I’m about to convert one of my IRAs to a SD-IRA (I figure if I’m going to do it, during a record high is a great time to sell), so I have that available for investing.

Self-directed retirement accounts are a wonderful option that opens you up to a whole new world of investing.

If you want to find out more about using self-directed retirement accounts – the possibilities and the potential pitfalls, you should check out our latest podcast.

I interviewed Carole Ellis, co-founder of the Self-Directed Investor (SDI) Society and news editor for the SDI News, the top news publication in America for self-directed investors. She offered up a wealth of information about self-directed investments, and we had a really fun chat.

Check it out and let me know what you think about self-directed investing and what questions you may have.  Also, let us know what’s the next step you’re going to take towards your real estate investing. Post in the comments below.

Happy Investing!
Monick

P.S. I co-hosting a very special, transformational creative 1-day woman’s retreat called Step Into Your Magical Self Retreat on May 27, 2017.  Tickets are now available! Early bird pricing is still in effect, and tickets are limited, so grab your tickets and plan to be there.  Also, plan to bring your sister, mom, cousin, or bestie – there’s a substantial discount if you buy two tickets.  This event is all about sisterhood!

 

 Monick Halm is the co-founder of Real Estate Investor Goddesses.  She is a real estate investor with over 11 years of investing experience in single family, multi-family, mobile home parks, flipping, and syndication. She is also a certified interior designer, Feng Shui expert, author, speaker, certified NLP and money coach, and attorney.  Monick is passionate about real estate, design, and helping women to thrive.

 

22 Mar 2017

Women & Wealth – Expert Interview with Barbara Stanny

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I had an incredible expert interview with an idol of mine – Barbara Stanny, a leading authority on women and wealth and bestselling author of Prince Charming Isn’t Coming, Secrets of Six-Figure Women, Overcoming Underearning, and Sacred Success.

Barbara Stanny’s works have helped me to transform my life – especially around money, so I was pretty excited to be interviewing her.  You can probably tell this by the super cheesy perma-grin I’m wearing on my face the entire time we spoke.

Click on the link above to check out this interview.

In the video she shares about:

  • The three levels of financial development
  • What it takes to go from financial survival mode to stability to affluence
  • How women are different from men when it comes to money and success
  • The three factors that make a biggest difference in a women’s experience of wealth, and
  • The four stages of Sacred Success

It is so full of wisdom – Barbara was just dropping golden nuggets every other sentence.  She should be called the Nugget Bomber.

Some of my favorite Barbara Stanny nuggets of wisdom were:

“If you don’t deal with your money, your money will deal with you.”

“As I reread my transcripts [of interviews of 7-figure women], I realized I’d been so dazzled by how much money these women were making, that I completely missed the way they were doing it.  And they were doing it in a very different way in which the world, i.e., men, models.  And suddenly, and during that these four days, I realized this new game they were playing  …was what I called Sacred Success.”

“Sacred Success means pursuing your highest purpose for your own bliss and the benefit of others while being richly rewarded.”

“The primary goal of sacred success is greatness.”

“Greatness is that place where your deep gladness: doing what you were put on this planet to do,  meets the world’s deep hunger.”

“Resistance is going to come.  Don’t let it throw you off your wealth building wagon.”

Let me know what your favorite nuggets of wisdom were from the interview.  Post in the comments.  And get more nuggets of wisdom from Barbara Stanny at her First Monday of every month – it’s a free group coaching call for women around money.  Register for this call at www.barbarastanny.com.

15 Mar 2017

7-part Real Estate Investing Success Framework

[embedyt] http://www.youtube.com/watch?v=qqoa3gFHu_E[/embedyt]

Hi, I’m Monick Halm of Real Estate Investor Goddesses

Do you want to invest in real estate, but don’t know what steps you need to take in order to be successful?  If so, you’re in the right place.

In this video, we are going to share with you the 7-part Real Estate Investing Success Framework. 

Because as Michael Dell says “You don’t have to be a genius or a visionary or even a college graduate to be successful.  You just need a framework and a dream.”  We’re giving you this framework here.

1, you need the right plan – a blue print for successfully investing to create the right vision for your life.

2.  You need the right education.  You need to get educated about real estate.  An educated investor is a successful investor. 

3. You need the right team team.  Real estate is a team sport.  A weak team will lead to weak results.

4. You need to invest in the right market.  In a strong market, even a bad property can do well.  In a weak market, the best property will lose money. 

5. You need to invest in the right property for you.  Maybe the right property is a single family house or duplex.  Maybe the right property is an apartment building or any number of other assets.  You need to learn how to get the right property at the right price.

6. You need the right financing.  Perhaps you want to get lender financed, and will need to learn how to get money for your deals.  Perhaps you want to do seller financing, bring other investors in to partner with you, or find creative ways to pay for the property yourself.  It’s important to get the right financing for you.

7. You’re going to need to the right community of support.  For goddesses, that’s a sisterhood – a group of smart, fun, successful women who have your back and will celebrate with you.  This is the secret sauce for women investors.    

In Real Estate Investor Goddesses, we are committed to helping women be successful in all parts of the Real Estate Investing Success Framework.  Check us out at www.realestateinvestorgoddesses.com to learn more.

03 Mar 2017

Why Discipline is a Dirty Word

Here at Real Estate Investor Goddesses we talk a lot about wealth building, especially when it comes to real estate. It’s our passion and our divine mission to see socially conscious, kind, badass women own a piece of the world – so much so that we both sometimes get swept up into the nuts and bolts of: net worth statements, property repairs and upgrades, and tax meetings with accountants.

 

We get so caught up, we forget the goddess part of Real Estate Investor Goddesses.

 

I wish I could say being the living breathing incarnation of the divine means wearing lots of flowing maxi dresses, floral coachella crowns, and skinny dipping on the beach under a full moon -although your goddesshood could totally look like that.

  For me feeling and acting like a goddess is a four part recipe.

  1. Feeling Gratitude

  2. Being Abundant

  3. Giving Generously

  4. Believing in Magic

 

And the secret ingredient to pull the whole goddess dish together is taking disciplined action.

 

Discipline, yuck that word sounds so harsh.

 Another word I like to use instead of discipline is ritual.

As in taking ritualistic action.    

 

Brushing your teeth everyday, that’s a ritual.

 Your morning lemon water, that’s a ritual.

Here’s a peek into my personal daily rituals:

  1. 15 minute morning ritual with rituals for mediation, gratitude, desire, and pleasure

  2. Daily movement (yoga, running, pole)

  3. A time for checking emails (I try to only do this once a day)

  4. A time for social media (I have locks on all my devices so I can only be on social media during a certain time of the day. Game changing for my sanity especially now)

  5. Money making rituals (this is where I make the phone calls, finish the net-worth statement, go to the networking events, have the meetings.) I typically recommend new investors start with these activities first.

  6. Meals. (This is my most pleasurable indulgence. I love to prepare a big lunch and sit down to enjoy it)

  7. Content Creation. Monick and I are running a business that depends on our skills as teachers and leaders. That involves lots of writing, making graphics, taping podcasts, filming videos, and creating landing pages.

 

How do you create your own daily rituals?

 

First start with your desire.

Say for example your desire is to buy an apartment in the next 90 days to use solely for the purpose of AirBnB (Vacation rentals are huge here in New Orleans.)

 

Can you allocate an hour each day for Vacation Rental Creation.

 

Then begin to take the steps to creating your desire.

 

Here is where most women mess up. They anticipate failure so they never attempt to take the first step.

 

There’s a popular myth made popular by the tech world

 

Fail fast and fail often.

Meaning you have to test what works until you get it right.

 

But failure is such a charged word and fear of failure will keep even the best of us stuck, so planning for failure is probably not gonna make your panties wet. Am I right?

 

Instead of planning for failure, try embracing resilience.

It’s the one skill successful entrepreneurs and real estate investors have in common.

Your ability to bounce back is your best virtue. But you won’t need to bounce back if you don’t get in the game (insert your own Superbowl reference here.)

 

Monick and I just started a 7-part series breaking down the steps you need to take to get started on your property vision.

 

If you are a member of Wealth Builders you can access that video here.

Not a member? Wealth Builder’s is our awesome online community filled with all sorts of resources to get you started and educated about real estate investing.  And every month there will be new content all geared to get you successfully invested and making money in real estate. Click here to join.

Believing In Your Prosperity,

Denise

01 Mar 2017

3 Ways to Get Unstuck

Are You Stuck?

You know those times when you are in the flow and everything always works out for you?

Yeah me neither.

LOL. No actually I can experience months and even years of extreme alignment where: my intuition hums along at a clipped place, I do what I say I am going to do, and I cross desires off my lists left and right.

Times when I hit my targets and even if I don’t hit them exactly (sometimes I like to dream big), I am still satisfied with my wins.

But what happens when you aren’t in the flow?

Trust me it happens to the best of us. Yes, even me. 
I get disappointed. I’m sure you know the dulling effect of disappointment?

When everyday feels like you are wading in molasses.

When it feels like you are trying to go up on a down escalator or swim against the river currents.

Rule number 1 of Goddess Club.
What You Resist, Persists
I’ve identified 3 ways resistance makes women feel stuck.

 

“Natural” Resistance

 

Sometimes feeling or being stuck is just a product of natural resistance.

These are situations like: the contractor doesn’t finish a job on time, or your property doesn’t close when you expect.
Or to use an example of something in your personal life, you make a decision to not eat sweets today and somebody at the office walks in with a big plate of cupcakes.

Instances like this are simple physics and you just have to plan for them like engineers plan for wind resistance when building a race car.

 

 “Worthless” Resistance

 

This is the “I am not hot enough, smart enough, thin enough, rich enough, etc” dilemma. Feeling not good enough is about shame and ultimately shame is about fear of disconnection or not belonging. This feeling often goes away when I do some type of personal development like a yoga/ fitness challenge or a new personal development course. I stopped beating myself up years ago for my need to continuously recharge my well and spend money on courses and personal development books. I’ve found I go farther faster when I do my internal work and success often feels easier than if I do things by muscling through the resistance. You can watch more of that journey here!
 “Ignorant” Resistance

 

This one is my favorite because it is easy to remedy. This type of resistance happens when you don’t know what you don’t know and you get overwhelmed with your next steps. You know you are in this type of resistance when: you keep desiring to work with a mentor or a coach, or you keep scouring how-to books and videos, or you just want someone to tell you what to do.
How can you Overcome “Ignorant” Resistance? 

 

 

Identify where you are stuck? When you feel stuck you can often feel confused and unsure of your next steps.Start by acknowledging you are stuck and asking for clarity. Then listen, clarity can come in all forms.

Sometimes success will feel uncomfortable and foreign and you will find yourself making excuses to not act by saying things like “I need more clarity”, “I’m waiting on a sign”, or “It doesn’t feel like this is the right time”, or even “I can’t afford this right now”.

I know for a fact that if you want a new pair of shoes you will find a way to make it happen, so why is your success any different?

 

Here are two questions to ask yourself when making a decision in real estate, business, or life:

  • Is this in alignment with my values?
  • Will this bring me closer to my desire?

 

Trust me, you will make the same decision in 30 minutes that you would in 30 days. Save yourself time and momentum by making your decisions more quickly.

 


Here’s an exercise to help you get unstuck.

I’m stuck because _______________.
My #1 goal in real estate is ___________________.
I want to reach my goal by (put a specific date here) ___________________.
The decisions I need to make are _______________.
The mentor who’s going to move me forward powerfully is ____________.
Being in the flow feels amazing like falling in love with yourself all over again.
Why not give this exercise a try.

Post your results in the facebook group.

P.S. Are you listening to our podcast? We are on itunes now! Subscribe rate and review! here.