Let’s say that you have some money in self-directed retirement accounts.
Perhaps you had money in a traditional or Roth IRA, but you moved it over to a self-directed custodian. You can now invest those funds in almost anything you want to.
The problem is, these accounts can be relatively small. Maybe you have a Roth or savings account with $5K, $10K, $20K.
How can you effectively invest those small amounts?
Most real estate and lending deals require a fair bit of money.
And $5K or $10K is probably not going to get you into many deals, or at least the ones you want to be in.
So how can you get your money from a self-directed IRA account into quality deals?
You need financial friends.
With a financial friends network, it’s perfectly feasible for people to aggregate their funds together.
One person might have $30K, $40K, or $50K. Another person might have $20K. And then another person has $5K or $10K in small accounts.
If you aggregate those accounts, together you can go in and put your money on a lending deal for a note that’s producing 10, 12, 14%.
Now you’ve got your small-dollar account in the game. You’ve got it working.
If you try to wait until you can get enough money to do the deal yourself, then you’re going to miss the opportunity.
That’s the point. Don’t miss the opportunity.
The way you make things happen in life is synergy – by working with other people.
Well, which people? You’ve got to find those people; you’ve got to make friends.
Life is about relationships. Everything you do, both personally and in business, is dramatically improved by working with other people who have common goals.
If you’re not doing that, I recommend you start working on it right now.
Make it a discipline every day to meet somebody who has some significance – something that you can help them with, and something that they can help you with.
You can’t just live solo and be a rugged individualist.
Reach out, and then find people to do business with.