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Understanding Wrap Loans with Dorsie Boddiford Kuni
In today's show, Larry talked to Dorsie Boddiford Kuni. She is a full-time real estate investor. Her primary business focus is wealth building through retirement accounts. She has released a book "The Solo 401k" which she co-wrote with her father, Dyches Boddiford.
In this episode, they talked about the difference between the solo 401k and IRA. Dorsie also explained what a wrap loan is and the benefits it offers.
- How Dorsie started in real estate
- On her book "The Solo 401k"
- The differences between the solo 401k and IRA
- The benefits you get from a solo 401k
- Kind of business that will qualify for a solo 401k
- Two types of contribution you can make to a 401k
- What a wrap loan is and how it works
- The paperwork involved in a wrap loan
- Underwriting the property and the borrower
- The experience she requires from a borrower
- Things people need to look out for when doing wrap loans
- "As real estate investor, we need to walk a thin line with how we invest those retirement funds."
- "The best kind of education that you can get is from a lender."
- "Real estate gives you so many different ways to make money."
- "The more ways you know how to make money, the more deals you're gonna be able to do."
RESOURCES AND LINKS FROM THIS SHOW:
- Assets 101
- Dorsie's Email Address: firstname.lastname@example.org