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Understanding Wrap Loans with Dorsie Boddiford Kuni

SHOW SUMMARY:

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.

SHOW HIGHLIGHTS:

  • 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

Quote:

  • "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: dorsieb@gmail.com