Wealth Podcast Post

Self Directed IRAs with Nate Hare

George Grombacher March 6, 2022

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Self Directed IRAs with Nate Hare

LifeBlood: We talked about self directed IRAs, the value in being able to invest your retirement assets however you’d like, how to actually make it happen, and how to get the knowledge to be successful, with Nate Hare, C.I.S.P. and Director of Retail Sales at NuView Trust Company.  

Listen to learn how to start investing in what you know best!

You can learn more about Nate at NuViewTrust.com, Facebook, YouTube and LinkedIn.

Thanks, as always for listening!  If you got some value and enjoyed the show, please leave us a review wherever you listen and subscribe as well. 

You can learn more about us at LifeBlood.Live, Twitter, LinkedIn, Instagram, YouTube and Facebook or you’d like to be a guest on the show, contact us at contact@LifeBlood.Live.

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Our Guests

George Grombacher


Nate Hare

Episode Transcript

Come on level this is George G. And the time is right welcome today’s guest strong, powerful Nate hare. Nate, are you ready to do this?

Nate Hare 0:19
I’m ready to do this.

george grombacher 0:20
Alright, let’s let’s go. Nate is the director of retail sales at New View Trust Company. He’s a CI SP. He is a self directed IRA expert and educator excited to have you on Nate, tell us a little about your personal lives more about your work, why you do what you do.

Nate Hare 0:39
Personal life i at a college I got right into real estate, I always knew I wanted to do something in real estate. Took went to real estate school with the traditional kind of methods of learning about real estate even have my real estate license at one point, realizes that I really like the investment side of real estate, spent about 1012 years in the mortgage business financing home loans and the home purchases and buying my own real estate and about 10 years into my career, I found the career that I’m in now, which is teaching people how to use retirement accounts to invest in real estate, and the powers of investing into alternative assets with retirement funds, tax free dollars instead of investing in the stock market. So now I’m more of an educator, I teach people how to invest their money that they’ve already saved up for but invest in things that maybe they’re more knowledgeable about, instead of investing in the things people tell them to invest in.

george grombacher 1:37
Nice, I appreciate that. So instead of telling investing in things people tell them to invest in what does that mean.

Nate Hare 1:44
So you know, growing up, I was always taught that to save for retirement. The way to get there is you work for a company fortune 500 company or a corporate company and you set up that 401k Put money in that 401k And then you let somebody invest it for you and you know Wallah, you’ll wind up. You know, like that couple in the commercials driving the sailboat with the white sandy beaches behind you. I soon realized I didn’t know many people that actually live that life, but we’re trying to get to retirement by doing that. And, you know, when I really looked at it, I’ve always been a numbers guy. And no, I saw that the the average American family has about $65,000 in a retirement account by the time they retire. Yet 98% of Americans invest that way that I was taught, put money in your 401k. And don’t worry about it put money in that 401k. And don’t worry about it. My background was real estate, I understood real estate I understood lending specifically. And no, it wasn’t until you know, 2012 that I actually found out I can invest my retirement dollars my tax free dollars, and invested in the things that I was knowledgeable about real estate or loan secured by real estate. And I always made myself better returns investing in that. And it just became a passion to me because I thought everybody should at least understand that they can invest in things other than the stock market because most people don’t know how to make money in the stock market unless you work in the stock market yet 98% of Americans put their money into it. So again, not I never not the stock market. I think there’s money to be made. But you know, as I educate people, I find out people understand real estate, people understand oil and gas, people understand, you know, investing in a small startup companies yet we’re not taught, you know, in early ages that we can invest in those types of things. We’re just told to put money in that 401k and let somebody else do it for you. So I’m passionate about teaching people that they have more options when it comes to their retirement assets.

george grombacher 3:45
Yeah, I appreciate that, the more we can be actually educated in a certain area. And then once we are passionate about or we get excited about some of those things, you just mentioned real estate, oil and gas, investing in companies. If we actually have that knowledge base, well, then why wouldn’t we want to bring that together with with with our investing?

Nate Hare 4:07
Exactly. You know, one of the things I always tell people is just invest in what you know best if you understand the stock market invest the majority of your money in the stock market. But if you didn’t understand something else, well know that you can invest your retirement into that something else, you just have to find a company like new view, the company I work with now, that will allow you to invest in what we call alternative assets in your retirement account. You still have to have a custodian that kind of manages it and signs off on the investments. But nowadays, you will find more people that understand real estate. Even cryptocurrency nowadays is such a growing investment that a lot of especially our millennials understand yet they invest their retirement in the stock market only because they don’t know that they have other options. So you know, the saying goes you don’t know what you don’t know. And I’m proud to get out there and teach people that there’s there’s a bigger body have investments available to us. And it’s through what we call a self directed IRA. And that’s what we have here at newView.

george grombacher 5:05
Nice. So, I have, let’s go through an example. Let’s say I’ve got, can you use a Roth IRA and a traditional IRA?

Nate Hare 5:17
You can. So the accounts, we have a new viewer, the same accounts, you would have it a Chase, Wells Fargo fidelity, self directed when we use that term, it’s just a marketing term. All IRAs are essentially self directed, you can pick and choose where you want to invest it. The only difference is the custodian that you park your money with, they may have restrictions based on their business model. So a fidelity, they’re only going to allow you to invest in the traditional assets like stocks, bonds, mutual funds, because that’s what they sell, right? They make Commission’s on those types of investments. So if you wanted to invest in say, a rental property, rental property in your neighborhood, three bedroom, two bath house, something that’s tangible, if you asked fidelity to do that investment for you, they’re gonna say no, only because they don’t sell it. It’s not that you can’t do it, it’s just that fidelity doesn’t make money on it. When you come to a company like new view, we have the same IRAs, we have traditional IRAs, we have Roth, IRAs, SEP IRAs, even health savings accounts that we administrate here at New View, we don’t have investments to sell our account agreement with our client says invest in anything the IRS allows, but you pick the investment, you find it, we’ll sign off on it and administrate it. So you get your tax benefits. But we’ll hold anything the IRS allows and by rule, by law, the IRS only tells us we can’t pull two things in our retirement accounts. And that’s life insurance contracts and collectibles. Those are the only two investment restrictions. So if you want to hold a rental property, you have to find a company like new view that will sign off on the on the purchase and hold the rental property in your IRA if you want to buy cryptocurrency, I even have a client that buys head heads of cattle in his Roth IRA, I have another client that buys mineral rights in his Roth IRA. Why did they do that? Because they understand the investment and that they know they can do that through an IRA newView not an IRA fidelity.

george grombacher 7:24
Nice, I appreciate that. All right. I’d love to go through go through kind of a scenario. Let’s say I’ve got a Roth IRA that has $50,000 in it, and I find a rental property that I want to buy. How does it so do I do I open the and let’s say I’ve got I’ve got an IRA at XYZ bank. And I want to do this. So I come to New View, do I and I just I transfer the money into an open account with new view and then I transfer the assets into it. And then how do I then go about actually buying the rental property.

Nate Hare 8:01
So typically, how it works is you would set up a an IRA at New View, and let’s just say for example, you got a Roth IRA at Fidelity, you would open a Roth IRA at New View, you would instruct us to transfer whatever funds however many funds you want to transfer from fidelity to new view, I will say most of our clients don’t shut down their brokerage accounts, they just transfer a little bit of money over to new view based on what they’re investing in. Once the money is in the account, that new view, then you find the investment and let’s just say it’s a rental property. When you drop the contract to buy that property, the buyer on the contract is not you the individual, it wouldn’t be Nate hair, it would be new view Trust Company for the benefit of Nate hairs Roth IRA, that would be the buyer on the contract, you’re still doing the same legwork to find it and get it under contract. But the buyer is ultimately your IRA, and then we would sign as the IRA custodian on that purchase. We don’t tell you whether the investment is good or bad, we just sign off on the investment, no different than when you buy a stock with fidelity. They sign the stock certificate saying, you know, Nate hair bought Walmart stock with his Roth IRA at New View. What we hold that new view to show evidence of the investment is is the deed we’ll hold the warranty deed that shows evidence that your Roth IRA now owns that property. And very, very important for people to understand is any income and expenses on that asset. Go in and out of the IRA and you want it that way because you get your tax benefits by having the income sheltered from Uncle Sam. So rental income would come back to the Roth IRA if you sold the property, all the capital gains would go back to the IRA and here’s the beautiful part about it. It there’s no capital gains tax when you buy and sell investments in an IRA. So essentially, you can buy 10 rental properties and flip 10 rental properties and Roth IRA and pay zero tax on your gains, ultimately allowing you to grow a bucket of money faster by eliminating Uncle Sam out of the equation.

george grombacher 10:08
Yeah, definitely massive, massive benefits there. So my understanding is that we need to be really careful. And you touched on this of of who is paying for the expenses of this rental property. So is this something that there’s education on? Or is this this, it’s incumbent on me to understand, okay, I need to make sure there’s money inside this, my IRA to be able to cover the cost of the mortgage and insurance and stuff like that.

Nate Hare 10:37
There definitely is a learning curve, especially if people have not done this before, I would say 50% of our job at New View is is actually education. We just did a large education event a couple weeks ago was a two day Expo style event. We do Wednesday workshops, where we teach people how to work within the rules of the IRS so that they don’t get themselves in trouble. And if you were to just simplify it, basically, the IRS just doesn’t want you to touch your IRAs, assets or money until you take distributions. So as you buy and sell things in your IRA, all the income goes to the IRA, and all the expenses must be paid out of the IRA. So you have to keep that in mind when you have an asset like real estate, because real estate comes with more moving parts than than Walmart stock does. You know, real estate comes with insurance, you’ve got you might have a vacancy, you might have some repairs, that need to be accounted for. And if that asset is owned by the IRA, you have to have enough money in the IRA to pay those expenses. Now, what I will say is we do a lot of education on how to navigate through pitfalls, or maybe hurdles that you might face. And let’s just say you have a real estate asset owned in the IRA and you run out of money, what do you do? There’s different strategies you can use to either get money in the IRA, and so forth. One would be can you just transfer some more money in from your fidelity account to pay for you know, the new roof? Can you make a contribution? Have you made your annual contributions this year? If it’s owned in a Roth, can you convert money from a traditional over to your Roth, and even you know, this blew my mind when I learned about it, there’s banks that have loans for IRAs, you can go to a certain banks that will actually have financing for your IRA, if you absolutely needed some money in there to you know, finish the rehab it and whatnot. So, you know, all this stuff that I’ve learned over the last say decade are things I wish I would have known 10 years prior to me knowing it. But we do a lot of education to try to help guide our clients along. We also have a team of Ira specialists that you can always lean on if you’re a new client, and just call them and say, Hey, here’s my situation, I need a little help, you know, what are some strategies I can use to kind of, you know, accomplish what I need to accomplish without breaking the rules?

george grombacher 12:59
Yeah. Fascinating. I didn’t know that there were banks out there that lend to IRAs. But of course, there are, of course,

Nate Hare 13:05
there are Yeah, again, you don’t know what you don’t know. And that’s one of those things I’ve learned. And you know, every time I teach that people are, you know, they’re they’re, they’re feverishly writing notes about the banks that have Ira loans, because it’s good to know that you can, you can leverage small dollar IRAs, and even use your IRA as a down payment, and actually finance the rest if you want to buy real estate.

george grombacher 13:27
Yeah, it’s fascinating. It’s such a huge opportunity and a great opportunity. And just want to make sure that you are entering with eyes wide open, like we were talking about right at the beginning, you need to understand and have knowledge of this. And it’s great that you all have all these resources that people can learn from.

Nate Hare 13:44
Yeah, our YouTube channel is a great place to start, if anybody wants a little education. If you’re on Facebook, follow our Facebook page, we go live every Wednesday, all our classes are recorded, we put probably one or two things out weekly, to cover different topics of self direction. And really, it’s it’s fun for us because we’re we’re basically just teaching people how to stick it to the government with their own rules. Here’s the rules that are never taught to us in school. And here’s how you can play by the rules and make completely tax free wealth through a retirement account. And even beyond that, you know, if you really focus on, you know, the Roth IRA, you mentioned, the Roth IRA, which is my favorite Ira out of all of them. If you really plan well, you can set yourself up with income producing assets, real estates, just one of them, income, income producing assets that you can live tax free in retirement off the distributions. And when you die, those assets pass on in an inherited Roth IRA that your beneficiaries get to live off of. So you can really essentially grow to Lifetime’s of tax free wealth, just by understanding, you know, the simple knowledge or the rulebook that’s already out there for all of us to play by

george grombacher 15:00
super powerful. I love it. When people are ready for difference making tip, what do you have for them?

Nate Hare 15:07
My difference making tip I kind of mentioned it before, invest in what you know best. Know that you can invest in all sorts of things with your retirement account, you just have to find a company that’s willing to manage the assets on your behalf. So invest in what you know best, you’ll make yourself better returns over the long run.

george grombacher 15:25
Well, I think that is great stuff that definitely gets come up. Mate, thank you so much for coming on. Where can people learn more about you? And how can they get involved with newView?

Nate Hare 15:35
Yeah, if people want to learn more about us, just go to our website, new view, trust calm, it’s spelled n u, v. W, trust calm. You’ll find a lot of education in our education resource section. Also go to our YouTube page, subscribe to our YouTube page, just look up new view trust, we do a ton of education there and come out to one of our events. We do virtual events, we do live events, and you can learn a whole lot. Not even just about IRAs, but just investing in general because we have 15,000 clients now and they invest in all sorts of things. And a lot of them are very, very savvy and knowledgeable investors. So hanging around new view, you’ll learn a lot, not just about IRAs.

george grombacher 16:17
Love it. If you enjoyed this as much as I did, so get your appreciation and share today’s show with a friend who also appreciates good ideas go to New View trust. com that’s n u vi e w trust.com. Check out their YouTube channel and also take advantage of that incredible community Nate was just talking about. Thanks. Good night.

Nate Hare 16:39
Thanks. Thanks for having me. And until

george grombacher 16:41
next time, keep fighting the good fight. We’re all in this together.

Transcribed by https://otter.ai

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