subject: You Can Use Your Ira To Invest In Real Estate [print this page] Invest Your IRA in Real Estate Invest Your IRA in Real Estate
In this interview fro Metro Brokers TV, Art Momper from The Denver Home Team explains how to use your IRA to invest in real estate and enjoy income in your retirement!
Art Momper can help you buy, sell or invest in real estate. He will use his experience to help you find the right property for your needs. Call Art at 303-683-1222.
Interviewer: Hi Im Kathy Soltero with Metro Brokers TV and today we are in the studio with Art Momper, and hes with The Denver Home Team. Art thank you so much for coming in today.
Art Momper: Glad to be here.
Interviewer: Youve been a realtor now for about 37 years, how would you say that your experience has helped you out over the years?
Art Momper: Well, the situation with our market is, its always evolving and so Ive learned about the markets from every dynamic thats out there. Im able to bring a lot of big picture guidance to my clients and help them with their decision making. In our business sometimes people get real focused on little details, sometimes they get focused on the big picture and not enough on the details, so you know, you ought to be able to look at the situation and guide them accordingly. Real estate is not done in a bubble and so being able to bring a big picture overview has really been important and especially with this market.
Interviewer: How do you stay current with all the latest technology and so many things have evolved over the years too?
Art Momper: Yeah it is very fluid in our market place, but people expects you to be current and I know a lot of brokers that are experienced in the market, but they havent stayed current in their technology and I think all our clients these days are pretty literate and theyre expecting us to stay on top of it. So Im always up to date with the most current technologies, the most innovative websites, we are able to get peoples properties on the market and distribute it in a couple of hours, using all the electronic signatures, social media etcetera, so I make sure that if its out there and it works, Im doing it.
Interviewer: Thats right. We mentioned you have been in the business for 30 some odd years, and so what do you think your clients value most about your experience that youve had?
Art Momper: Well, I think they value my honesty. I put honesty before compensation. So, when I work with people, Im going to tell them the truth, and when Im helping someone buy a house, Im very critical about the details of that property, so that if they do enter into a purchase decision on it they know they are going to get a good outcome. My assistant and I kid all the time that I talk more people out of buying a house than those brokers who have sold- because if I dont think its the right property, Im going to tell them that. If I have to defer compensation for that, thats fine with me, Id rather get the good outcome. As a result, I get a lot of referrals, and people are glad to include me in their future business plans.
Interviewer: Absolutely, so youve been with Metro Brokers now for over a year.
Art Momper: Yeah, Ive been about a year and a half.
Interviewer: Okay, so how would you think that is the benefit to you and to your clients?
Art Momper: Yeah, its been a big decision, I was a RE/MAX Broker for 31 years and helped build that brand. I was a broker on it for about 18 years; so I have a lot of experience in managing brokerages and taking care of that kind of business. So, I brought that over to Metro Brokers and what its really allowed me to do is maintain my low fee structure while continuing to add services. A lot of other brokerage opportunities have extremely high overhead and that really doesnt benefit the client. Metro Brokers has provided a really good forum for me to continue to advance my technology investments while maintaining the serviceso thats been great.
Interviewer: I understand that you are an expert in Self Directed IRAs to purchase real estate, can you explain a little bit about that?
Art Momper: Yeah, thats an interesting niche in the marketthe IRS allows people to use their IRAs to buy real estate.
Interviewer: Okay.
Art Momper: It is self directed for any purchase, actually, but the real estate is a great one because when you buy a piece of property and its throwing off rent, you can live off that rent in your retirement without killing the tree if you will, you can just eat the fruit. Whereas, if you have a stock-based portfolio, you start selling the stock and thats the end of your revenue stream. So, its really a much superior way to package a retirement fund. Its a very complicated process from the brokers perspective, and so you definitely need to do it with somebody who understands it, and Ive got a large investment of time and energy into understanding the process. Ive done it myself and, also, I own several properties through an IRA, and its a great program if you use an expert like me.
Interviewer: Well on that note, how do we get a hold of you because I think I might be interested myself!
Art Momper: My name is Art Momper, and Im at 303-683-1222.
Interviewer: Alright.
Art Momper: And my website is my name, Art Momper of The Denver Home Team.
Interviewer: Alright, Art thank you so much for coming in and talking with us today.
Art Momper: Thank you.
Interviewer: You bet, and for more real estate related videos like this one, be sure to tune in online to Metro Brokers TV.
