If you're like most people, you've heard of the stock market and how it can “make you a lot of money”. But if you don't have years to spend reading up on financial journals and studying finance, how do you even know where to start? Chances are, your money is locked up in the bank or in mutual funds like the typical 401(k) at this point. Unbeknownst to you, your money isn’t really growing to its maximum potential. And that’s where the problem is! All that money saved is probably losing more value than it’s gaining and you don’t even know it! Come retirement, you don’t get to live the lifestyle that you thought you would after all those years saving. So, what’s the alternative? Let’s get to know your options from Damion Lupo. Damion is a professional real estate investor, serial entrepreneur (started 50+ companies), and best-selling author of 11 books. He’s a four-time college dropout, who actually got thrown out of one of the schools for opening a bookstore in his dorm room, putting the official store into bankruptcy. Damion became a multimillionaire by age 25 and then lost his $20 Million empire by age 30. After what would have been a crushing defeat for many, Damion rebuilt his entire fortune. He totally reinvented himself and his business, and today lives inside a mission to Free a Million People from Financial Bondage. On this episode, we explore options that have made millionaires their money today! We learn more about taking your retirement money and carefully investing it into Real Estate, among other investment vehicles, without getting buried in unnecessary fees and taxes that would eat up your savings. Ultimately, maximize the earning potential of your retirement money and break income limits of IRAs and 401(k)s through eQRP, and live the lifestyle you desire without worrying about money after retirement. What are mistakes investors make when using IRAs for real estate investing? How is the retirement system broken and what can you do about it? How is making so much money through eQRP even legal? Tune in to learn more about the hottest and most relevant information on real estate investing! Thank you all for listening and I will see you on the next episode. When you are ready head on over to https://billyalvaro.com or go grab your tools to help you at https://billyssecrets.com
If you're like most people, you've heard of the stock market and how it can “make you a lot of money”.
But if you don't have years to spend reading up on financial journals and studying finance, how do you even know where to start?
Chances are, your money is locked up in the bank or in mutual funds like the typical 401(k) at this point.
Unbeknownst to you, your money isn’t really growing to its maximum potential. And that’s where the problem is!
All that money saved is probably losing more value than it’s gaining and you don’t even know it!
Come retirement, you don’t get to live the lifestyle that you thought you would after all those years saving.
So, what’s the alternative?
Let’s get to know your options from Damion Lupo.
Damion is a professional real estate investor, serial entrepreneur (started 50+ companies), and best-selling author of 11 books. He’s a four-time college dropout, who actually got thrown out of one of the schools for opening a bookstore in his dorm room, putting the official store into bankruptcy.
Damion became a multimillionaire by age 25 and then lost his $20 Million empire by age 30. After what would have been a crushing defeat for many, Damion rebuilt his entire fortune. He totally reinvented himself and his business, and today lives inside a mission to Free a Million People from Financial Bondage.
On this episode, we explore options that have made millionaires their money today! We learn more about taking your retirement money and carefully investing it into Real Estate, among other investment vehicles, without getting buried in unnecessary fees and taxes that would eat up your savings.
Ultimately, maximize the earning potential of your retirement money and break income limits of IRAs and 401(k)s through eQRP, and live the lifestyle you desire without worrying about money after retirement.
What are mistakes investors make when using IRAs for real estate investing? How is the retirement system broken and what can you do about it? How is making so much money through eQRP even legal?
Tune in to learn more about the hottest and most relevant information on real estate investing!
Thank you all for listening and I will see you on the next episode. When you are ready head on over to https://billyalvaro.com or go grab your tools to help you at https://billyssecrets.com
[00:00:00] BILLY: What's going on guys. Billy Alvaro unstoppable BA this is unstoppable REI wealth episode at 57. Today I am super pumped and excited to be interviewing Damion Lupo of EQR P I'm sure everybody out there on the stands retirement accounts or 401k, maybe you heard of self-directed 401k is this guy has a twist and a loop. That's going to throw you through the ceiling. His process is calle EQRP . He's going to show you how to put away over $60,000 a year. Either tax-free or how to grow it tax-free and how to utilize that money in your own checkbook and start flipping properties, investing in the real estate, apartments, hotels, gold, whatever you want to invest in, except for five little things, which he's going to go over his process is ridiculous. We go over a strategy. You can take a thousand dollars out of this, of this checkbook, put it onto an option property. Take that property flip it make $50,000. Tax-free if you want to learn how to grow your wealth, you have to do with the wealthy do, and as utilize, EQRP listened to this interview. And once you're [00:01:00] done go to Billy secrets.com. Check out the episode, 57, go and check out his product and his book. You're going to learn to earn and to get gain wealth and growth to the next level. I hope you guys enjoy.
[00:01:11] Welcome to unstoppable real estate investing wealth. My name is Billy Alvaro, AKA the unstoppable VA former billion dollar mortgage banker gone bankrupt turned professional real estate investor where each week you'll learn the tools, strategies, systems, and secrets myself and other highly successful real estate investing entrepreneurs use to start, grow and scale [00:01:00] their businesses, creating massive profits and how you can too. And we'll teach you how to put those profits to work. So you no longer have to get ready to finally experience financial freedom and generational wealth. Now let's get started.
[00:01:49] What is going on, everybody back with another episode of unstoppable REI Wealth? I'm your host, Billy Alvaro and I'm going to be bringing the heat today because the gentlemen I have on, I met [00:02:00] him probably within the last, maybe four years, maybe five years. And, uh, went to an event on syndications, how to raise money and grow your wealth. Because look, it's not all about just flipping and wholesaling. It's about putting your money to work so you no longer have to. And when I was there, I ran into this youngstud who started educating me. on what his business does and how he could allow us as real estate investors to put money to, to work in a, I guess it's like a nontraditional manner to take your retirement funds and grow it almost tax-free. So without any further ado, I want to introduce Damion Lupo from EQR Damion welcome to the show bro
[00:02:35] DAMION: it's great to be here, man. It's good to see you. I'm excited to dive in and bring the heat to everybody
[00:02:40] BILLY: I know you're going to them because you are a wealth of information. So let's get into what your business actually is and what it isn't. Because I want to speak about that.
[00:02:49] DAMION: Yeah. I mean, and, and, and you, you, you know, this from your experience over the last five years, and then working with these things, um, we give people the ability to take their retirement money and invest in real estate. That's what most people do. [00:03:00] They're investing in crypto and gold and all sorts of stuff. Basically we're untapping and unstrapping all of this money. That's in IRAs and 401ks to invest in and assets that are outside of wallstreet and that's what we give people the chance to do with their own money. And we also help people to go help their friends invest in their deals by tapping into their retirement money too. And that's, there's different ways of doing it. That's our, that's our business. That's what we do. It's breaking shackles, breaking the financial shackles of people.
[00:03:26] BILLY: Yeah. And no doubt. And I I'm telling you, like, I'm talking from a client I've been with you now for five years. I think five or six years before I met you. I joined right up after. And I had my money with another self-directed IRA custodian. And once you and I met and I watched your presentation, we sat down afterwards and I picked your brain. I'm like, if your system could actually do what you say can do I want to put it to work? Like what's, what's the first a traditional IRA. And let's look at the self-directed general custodians that are out there. And then your. And how it's different from the other two.
[00:03:55] DAMION: Yeah. So typically what happens is people have 401ks from an employer, or maybe they're with [00:04:00] the federal government and they have a thrift savings plan. They've got some type of system where they put money in employer matches that they've got some money in this thing. It's tax deferred, they leave the job and they say, okay, now what do I do? And that usually ends up going into an IRA. So then a lot of times people have mutual funds and they think that's it. Well, then they found out people started finding out, you could do something called a self-directed IRA. And people got excited about that. Hey, I can direct my own stocks. I might be able to do some other stuff. And they started realizing, Hey, I can do like maybe some real estate or some other stuff in this self-directed IRA. But what people didn't realize when they started doing that is there were all these different consequences. One, you have a custodian that gets in the way of everything you're doing and that's. And then when people started doing real estate, they didn't realize this until it was too late, but there are some huge taxes that are involved if you do real estate using a self-directed IRA. So that became a huge problem. And then even recently, like six, eight weeks ago in the fall of 2021, the U S tax court came down and said checkbook, IRAs, which is like the ultimate in self-directed IRAs. Those are illegal. So all of a sudden IRAs don't look very [00:05:00] good, even self-directed IRAs and yeah, it's w what we created years ago was the ERP, which is fundamentally different because it's a different part of the tax code. It's not an IRA. It allows you to have control. You don't pay those taxes when you invest in real estate. You can, this works, uh, it's evolved to where it works with employees up to 50 employees. Full-time part-time like none of the other stuff, even solo 401ks that a lot of people started using. Can't do what this does. This gives you control, and it gives you the ability to invest in all the stuff out there that makes people rich, not just makes them beholden to wallstreet.
[00:05:31] BILLY: So you said a lot. I want to reverse back because I know some are listed as like, what? I mean, I don't get it. What the hell is he talking about? So let's first look at a self-directed IRA. What does it actually mean? Like let's go into it. So people understand what that actually means.
[00:05:45] DAMION: So yeah, suffrage, that IRA means that you've got the ability to choose things. Typically there's two types of self-directed IRA, one that's with a brokerage company, like maybe a Schwab or fidelity you can pick what stocks or mutual funds you want. And then there's another one where other companies that are out there, [00:06:00] you can get to self-directed into things beyond just the stocks. And what that, what that means is that you find something you want to invest in and you go to the custodian and you say, I want to invest in this. And they look at it and they review it and then they charge you some fees to move your money into that thing. And, and then you get to invest there. So you're, you're kind of in control, but you're don't, you don't really command the account. And so that's, that's what the IRA industry is. It's either one where you're just doing mutual funds or you can do some other stuff, but some of that other stuff just got really wonky because of the tax ruling in November of 21
[00:06:30] BILLY: yeah, the tax ruling in November. And I was with self-directed IRA custodian, where I didn't have a checkbook, but I had to go to them for everything. And I got to tell you, it was a lot of red tape. If I had a property, wanted to buy investing, it took four to five days. Fill it out, send it over. Did you get the paperwork? Oh, you miss something. It was good in one regards. Cause that's all I knew. And I'm like, wow, this is better than just put my money into a regular IRA. That's going to go to the mutual funds but once I heard your presentation and I started realizing the power [00:07:00] that the EQR P offers, I was like, I honestly, I'm going to noble. I thought you were bullshit. Like I thought this is too good to be true. There's no way this guy's company and product could do what he says. But it does. And it could really create some serious, walth if you use it the right way,
[00:07:16] DAMION: it's interesting because whether it's alive or whether it's face-to-face in a, in a seminar, whether it's online or even people hear from a friend, typically the, the responses that's gotta be bullshit. Like, what am I missing? This is too good to be true. And people realize, wow. You know what? The only reason that I haven't heard about this is because the wall street machine and the IRA machine so big, we're talking trillions of dollars. That's all the marketing that it takes being out there and being on, you know, listening to two into your program and being around people that are thinking differently to really learn how the rich are getting richer. I mean, there's Peter teal has a $5 billion Roth account. Did he do that by investing in stocks in the S and P 500? I don't think so. He did things alternative and you gotta be willing to think. Alternatively, and that's what we did is create a [00:08:00] tool that allows you to act alternative.
[00:08:02] BILLY: So let's go into what the EQRP actually is. Cause I know it's, it's a form of a, self-directed but it's not a check self-directed flips go into exactly what it is.
[00:08:11] DAMION: So self-directed means you get to control. And so there's, self-directed IRAs, they're self-directed 401ks. This is a type of self-directed 401k that gives you. The ability to invest. You have a checkbook, you legally have a checkbook. You can't legally do that anymore with an IRA. It was literally against it. It was made. So if you happen to have a checkbook IRA, which some of you guys do that account is now technically illegal, which means if, and when you get audited. And by the way, the IRS is hiring 87,000 new agents to audit, and they're doing AI auditing. When you get audited, they're going to disqualify the thing. And the people that got hammered in the tax court had to pay a $250,000 tax and penalty fee out of nowhere because they were using a checkbook IRA. So the self-directed just gives you different levels of control. Like in your case, you went and said, Hey, can you please do this in five, four or five days? they tell you yes or no, that the difference [00:09:00] between a self-directed IRA that takes four or five days. And that's fast, by the way, on times it takes weeks with Schwab. Their form says, we'll let you know if we approve this within four to five weeks. Not days it's PRP I did. It is crazy. It's with an ERP it's four to five minutes because that's how long it takes for you to fill out most forms and then submit. So the difference here is you actually have control and command of your money and what happens because you sign you're the trustee you're in charge. There's no custodian, there's you there's us backing you up for compliance. But the difference is it's true control. That's where people don't, they almost think this has gotta be illegal because how could it be that I could have control? I've been told my whole life, somebody else that's smarter that has credentials has to be in control. The reality is they just don't want you to know that you have the ability and legal authority to be in control. And that's with EQRP gives you
[00:09:48] BILLY: yeah, it does. I can attest. I've been doing it for years. And, uh, even the accountants CPA, CFO that I brought in, they're like never heard of it. I got to be so resource and check this thing out. And once they check it out, they realize [00:10:00] like I get it. This is pretty a pretty cool vehicle to grow your wealth. One of the disadvantages from having a traditional 401k or IRA is the amount of money that you could put in. On an annualized basis. Right? So let's talk about traditionally versus if you're self-employed you maximize how much you could actually put in to yours on a, on an annualized basis,
[00:10:21] DAMION: So people have seen, traditionally is the traditional IRA. You can put $6,000 if you're over 50. And that's, you know, that's interesting, but it's basically a blip. You think about 20 years, you put the max in. You're not going to be rich. You're going to be old. So it doesn't really help. Most people, you have to do something different and not different when you're, when you got the EQR P it's 10 times more at 61,000, you can put in per person per year. If you're over 50, it's another 6,500 bucks. But you think about this, if it's you or maybe you and a spouse or something, That's 122,000 bucks. You can put money in for kids. A lot of people are starting to do is, is they're paying their kids 12 and a half thousand and all that money gets to go into their ERP for the kids. So what happens there? [00:11:00] What, why are they doing that? I mean, it's, they get the tax deduction, that's less income tax. Usually it's three or 4,000 that they save and their kids get that income tax free so they can put it into a Roth QRP, which is after tax and grows for life. So all of a sudden you start looking at these and I just threw a bunch of numbers, but the big picture, the thing to take away is an IRA is like nothing. It's, you know, a few thousand dollars. It doesn't do much. Whereas you funny QRP, you can actually do some serious damage to your financial freedom goals, putting all this money. Yeah. And it can be all Roth and there's no income limits. Something really important as you're making more income. And I mean, you're, you're the, you're the billion dollar mortgage broker. You know what it's like to make big dollars. And when you start making big dollars, you start disqualifying. from, even being able to do IRAs and Roth IRAs, no limits with the QRP is absolutely no limits.
[00:11:46] BILLY: Yeah so I hope listeners Really get a grasp of what you just said, because this is where the wealth is created. This is how you take yourself and separate from where you are, even if you're grinding your nine to five. Starting into your own business and your real estate investor. And you started to do a few [00:12:00] deals. If you're smart with how you put that money to work and this vehicle can get you there a lot faster, you can put it in. I thought it was 53, but it's $61,000 a year. And if you're over 50, you said,
[00:12:12] DAMION: if you're over 50, it's another 6,500 per year
[00:12:14] BILLY: yeah, that is insane. So let's talk about this. Now you can take 50 to 61 to 67, 60 $8,000 a year. Tax-free right. Get a tax write off on your, or off your taxes or pay tax and put it in as a Roth and have it grow tax free down the road. So either, or depending on what you want to do, I personally want to put it in as a Roth, let that baby grow. Tax-free what now can you do with that money? What can you invest in and what is the process to invest
[00:12:41] DAMION: so what's funny is that the IRS says here's the, here are the five or six things you can't do and everything else is game on. So what you've heard your whole life is here, the mutual funds you can have that you can invest in the S and P 500 or bonds or something. The reality is you can invest in real estate. It could be apartments, it could be land, it could be Costa Rican rainforest. It could be [00:13:00] physical, gold and silver that you take possession of. It could be Bitcoin, Ethereum, private notes. Like
[00:13:05] BILLY: you can put money into Bitcoin, Ethereum,
[00:13:08] DAMION: you can any type of crypto you can buy and you can take
[00:13:12] BILLY: insane. Insane.
[00:13:14] DAMION: Yeah. Wow. So you said something that I think is really important to emphasize and say again, you would personally want to do Roth. Well, think about what's happened with Bitcoin. It's gone up 170% per year for the last 12 years. So you think about that? Why would you want to invest $10,000 in something that was going to turn into 10 million? And pay taxes. You wouldn't. So how do you do that? You invest with Roth money and, and in the crypto space, you have exponential growth, same with leveraged real estate. So why would you ever want to grow something 10 or a hundred times and then pay taxes? You just use a Roth account and you can do that with any QRP and never pay taxes. That's kind of amazing.
[00:13:48] BILLY: Brilliant, it's actually brilliant. Let's talk about the real estate game. Self-dealing can I invest money for my EQRP into real estate properties, buy and hold properties that [00:14:00] are in my personal name.
[00:14:02] DAMION: So you can't self deal. And what self-dealing means is that if you've got a property already, you can't take your retirement money and invest it, and you can't sell yourself a property. What you can do is you can take your retirement account and go find a property and buy the property that you don't already know. So you've got that option. You could also, and so you find a, an apartment or, or something you take out an option. Your retirement account takes out an option on a piece of property for a thousand bucks, turned a thousand into a hundred thousand. I mean, I've done that. I know lots of people that have done that and all of a sudden you've a hundred extra money in a year. That's very doable. If you're aggressive and you're out there doing active investors are the ones that make the money when you're super passive. And you're well, it's like I say this, if you're going to be super passive, good luck on that with everything, including sex, like your spouse is going to leave. So it's like, get it on man gave on. Let's go. So you've got an opportunity with real estate, especially to do some incredibly leveraged growth. And you absolutely want to look at doing that with Roth because then you're paying no taxes for life plus 10 years after you die. [00:15:00] Insane.
[00:15:01] BILLY: I want you to go through, I want you to walk the listeners through how you could take an option, a property through your system and legally pay with tax on it
[00:15:09] DAMION: so let's, I'll give you an example of when I first started, I did, I did real estate in the very beginning and a friend of mine came to me and said, Hey, you want to be a partner? And I said, how, why would I be your partner? I have no money, no skills, no nothing. Like what good am I? And he goes, you got a credit card. So I took out 6,000 bucks off my credit card. So that's what I started with. That was my real estate start turned into 150 houses. Five $6,000 into your Roth account and it's sitting there and you're like, well, that's not very much. Okay. So you go find a property and you give somebody five or $6,000 as option money. And you say, look, I need six months and I want to here's my purchase price. And then you go find somebody and you hustle and you go find somebody that wants to buy that thing at a higher price at $50,000 more than your option price, you then sell your option at $5,000. You paid turns into $50,000. You just 10 x'd in six months. I mean, you can do that over and over again. So it doesn't take money. It [00:16:00] takes brain power. It takes hustle it takes work and energy. And when you do that, you realize that money, you can make up whatever wealth you want. You just have to be willing to do the work.
[00:16:08] BILLY: You have to know the secrets. You have to be willing to work. You have to leverage the systems that are out. To your advantage. And I can, I can attest again, man, this isn't, you know, me giving a testimonial, but I guess it is like I've used your system. I know it works. I'm utilizing an apartment deals. I'm utilizing it in, in old age homes. Like the program works. If you use it the right. And, um, what, so what are the five things that you can't invest in? I know there's everything out there, but just talk about the five things.
[00:16:34] DAMION: The big ones are collectibles and stuff that you're going to use. So you can't invest in rugs or wine. I mean, obviously with the wine, if, if you, if the IRS said you could invest in Leon, everybody would be hung over and broke when they retired. So that doesn't work. Those are the collectibles that you can't flip cars. Uh, you can't do things if you're going to, if you like a piece of property, but you want to use it today, you can't do that. That's personal use. And then there are certain people you can't invest with. You can't invest with a spouse or your children or your parents, [00:17:00] but you could invest with siblings or cousins, people that are sideways on the family tree. So it's a really small list. There are certain things like gold coins from 1920. You can not invest in, but you can invest in all the bullion you want, which is modern gold. Or bars or silver. So it's a very, very small list of things. If you look at the list and people can get a copy of the book for the QRP book that I wrote, and you look at the list in there and you go, this is a giant list of things I can do. Why didn't anybody tell me? And it's called A U M it's called wall street wants to have your money and charge you a one or two or 3% of fee every year. So they're not going to tell you, you can go invest in an apartment. You got to find that I find it out on unstoppable real estate wealth.
[00:17:37] BILLY: I appreciate that brother. It's true. I mean, look. These loopholes are out there and it's how the wealthy get wealthier. And if you know how to put your money to work and you know, the legal ways legal process to do it, you can become unstoppable, create your wealth and gets with different level. Do you see people utilizing this in like Airbnb, where they buy an Airbnb with, uh, with their down payment money?
[00:17:58] DAMION: Yeah. Any type of [00:18:00] real estate that you're doing, whether it's daily rentals or monthly rentals, anything like that. And I happened to think. I Airbnb, these short-term vacation rentals are one of the most lucrative. It's not just my opinion. I mean, you see the numbers, they're super lucrative. So it's another great opportunity to really juice your returns with your, your retirement account pay no taxes ever. And one of the things people say is, well, I don't want to invest in real estate inside of a retirement account because I want the depreciation and I go, yeah, but here's the problem. If you're buying a property and then you're going to sell it in five years, you're going to get all that depreciation recaptured so like you want to, you want to protect yourself from the five-year event because otherwise you're a heroin addict. You're just getting a big depreciation, feel good today, and then you get it to pay it back with a hangover in five years or withdrawals. So there's a lot of tools that you can utilize for different things. You want to make sure you're thinking through the big picture, not just what happens to this month, because things will bite you in the butt five years if you're not planning for it.
[00:18:52] BILLY: Yeah. That's smart, dude. That that's really smart. A lot of people that realize that, like I get the appreciation I made, you know, $2 million a year pay no taxes, but in [00:19:00] five years when you flip that. We're going to recapture all that shit right back in your on your tax return
[00:19:04] DAMION: yeah. And one of the other big mistakes that people make in addition to, to that is that they go, okay, well, that's one thing. All right, well, I'll just use my IRA and I go, no, no, no, no. The IRA is the other problem. If you're buying real estate with an IRA and then you've got debt on it, you're going to be paying 37% tax on most of the profit when you sell it. So give you an example. People go buy into an apartment. They take a hundred thousand, make it 200,000. Did it with other people or not, but let's say you use your IRA to buy real estate. If that a hundred thousand doubles, you're going to pay about $25,000 in taxes. If you use an IRA, you know how much you pay with an EQP zero cause it's exempt. So you have to get better information. Otherwise you get killed with all these rules and all these taxes
[00:19:43] BILLY: so, I know you wrote a book. What's the book called
[00:19:45] DAMION: the QRP book, just, just updated 20, 22 edition, all the current numbers, all the current laws, including the law that just happened eight weeks ago. Like we keep our information very fresh.
[00:19:54] BILLY: Yeah, it's up. Up-to-date for sure. Um, if somebody wanted to open up one of these accounts what do they do?
[00:19:59] DAMION: So they [00:20:00] reach out. Yeah. We have a strategy session to make sure it's a good fit. Make sure that they're the right type of person. So it's not for everybody. And so that's, that's really the process. It's an education process. We're primarily an education company. And, and so we'll, we'll figure that out. We're going to give people a chance to get a copy of the book. You get the book and you, you spend the time, uh, we spend a half an hour. Talking through the options and your situation, because it's very personal. This is not a one size fits all a lot of places. I think in general, we'll try to sell one thing to everybody and Hey, look, if you're a nail, they're a hammer. Like that's just how they look at the world. And so we're going to, we're going to figure out if this is a good fit, once it is, we take people through the process of building their plan, getting all their money rolled over. We're on the phone for hours with the Fidelity's of the world, getting the money untrapped and unshackled, the Edward Jones kind of companies that don't want to let go, because they think you're too stupid to have your money. We make sure that money gets out of their hands and into your hands. And once you have it, you've got a checkbook, truly a checkbook where you can write that check or wire whenever you want takes you five minutes to fund a deal. And your life changes because you're in control
[00:20:58] BILLY: um, that is the bottom line with [00:21:00] that and you have to make sure once you do get involved with this, that you bring in your CPA and your, if you have a CFO, having to get involved early in the process to understand what this product really is, because a lot of people just don't get it. They don't know because they were never educated on it. And so that education process really needs to go. Not just what you sell with wherever your is on your team is going to be. On your finance piece, it's good stuff.
[00:21:23] DAMION: And there's, there's something that people oftentimes miss because it's, it's, it's, it's almost subtle. And even you had mentioned this because it's relatively new. If you're sitting there going well, you know what? I've heard about a lot of different things and I don't qualify because, you know, I have, I have employees, there's a safe Harbor ERP that allows you up to 50 employees to be able to do this where you, as the owner and all the employees have control of the money mutual funds, real estate, crypto, Bitcoin, whatever you want. And this is, I mean, this is a difference. Like when you look at all the stuff out there in the retirement world, people say, well, everything is the same thing. They're all IRAs. They're all 401ks. They're truly not. The EQR is the only dynamic flexible tool that gives you power and control regardless of your [00:22:00] environment. So you want to educate yourself, dig into this thing, make sure that you actually understand what the differences are versus somebody.
[00:22:06] BILLY: Yeah, I'm going to have your link on my page. Billy secrets.com about a E QRP your book, everything late. Look again, I went through this five and a half or six years ago, and it's you, you have to really digest that. You got to take it in. You have to really understand what you're getting yourself into. And if you really do want to grow your wealth and saw putting first of all, a lot of money away on an annualized basis, and then started taking that money and put it to work. It's a no brainer, man. Like it's completely, it's similar, but completely different from a 401k. Or self-directed IRAs, same similar but different.
[00:22:38] DAMION: I love that. It's got things that Ryme but it's not the same thing. It's, it's kinda like people say, well, everything is the same. I'm like, have you ever looked at a Ford and a Ferrari? I know there's a T there's a movie about this, you know, Ford versus Ferrari, but truly a Ford Taurus is not a. Five 50. Like I know I had both of these. These are like a couple of my first cars when I was crazy in my twenties. I bought the Ferrari. I'm like, this is definitely not the taurus I had five years ago. I like, they're [00:23:00] very different even though they both have four wheels. So make sure you understand what's under the hood.
[00:23:04] BILLY: Yeah. Good point. Good point. Anything else you want to add? This program with a book.
[00:23:10] DAMION: I think people need to realize that there are, this is a rapidly evolving space that Congress is trying to attack wealth because they're broke and all they know how to, they know how to spend. They know how to inflate with, uh, with federal reserve and people. You have to get ahead of this. If you just follow the masses, the masses are going to go off of. And so you want to make sure that you're being a part of our tribe. You're going to, you're going to be at the forefront. You're going to know what's going on. We're going to give you lots of tools. We're going to help you build your network. And it's really going to empower you because I don't believe that anybody's going to ever care more about your money than you will. And so we want to make sure you have the right tools and the right people and the right ideas to be able to run with so that you can truly be financially free. That's that's our job to help you and be part of the team
[00:23:47] BILLY: is it expensive to utilize your system?
[00:23:50] DAMION: Well, I'll tell you what's expensive is taxes. You know, the average person spends until it's September, there's this idea that, Hey, you know what, April 15th or May 1st that's when we start burning money for [00:24:00] ourselves, because it's actually not 70% of our wealth goes to taxes. That's how much we pay to the different governments every year. And so is it expensive? I don't know. Going to zero tax is pretty, pretty freaking smart and it's a lot more expensive to pay taxes. This is one of those things where you have to decide, do I want to spend a few thousand dollars today or do I want to spend $3 million down the road on taxes? It's your choice
[00:24:19] BILLY: Yeah, good answer. It's not expensive at all. It's actually a very small investment compared to what you're getting and it really will set you on the path to financial freedom for sure. 100%. I mean, honestly, I told you, I said it before, when I first heard you speak about this, I thought it was, you were full of shit. I had to really do my research and dig in, gave it to a bunch of smart people and they all came back and said, look, two, thumbs up. This is a very creative. Not straightened the law work within the confines of it, how the tax road was written. And it's a brilliant frigging idea. How the hell did you come up with this?
[00:24:48] DAMION: I just thought, you know, honestly, I saw a lot of people that were stuck and they were just like, I saddled my parents retiring, broke, basically playing the wall street game and I realized something was different. That was going on. And then a friend of mine years [00:25:00] ago said, Hey, he wanted to buy some silver. And I had a precious metals company. He goes, I want to use my retirement account to buy some silver from you. Well, that's kind of cool. I didn't even know you could do this. So I spent a couple of years researching and then wrote the book with a tax attorney so that we could clarify the ideas and bring those to people and then realized that this was a huge gap in the market and it really needed to be shared. And we're just, we're fighting a lot of wall street, uh, machines. And so that's why, I mean, it came to being because there's a problem and that's what entrepreneurs do. We can't help it. We've got to go fix problems. We see you create businesses out of them.
[00:25:33] BILLY: And you create a lot of businesses. My friend, listen, bro. Really good having you on. Good. Seeing you again. It's been, it's been quite a little time. I know we chat back and forth on text, but haven't seen your face in quite some time, but it was good to see you.
[00:25:46] DAMION: It's good to see you too. Thanks again for having me. I look forward to talking with you.
[00:25:49] BILLY: How can people find your line before we leave?
[00:25:51] DAMION: Yeah. EQR p.co is where you find me. And that's basically where I live. The community is there and you want to chat with me directly. Hey, LinkedIn is [00:26:00] where you can hit me. That's where I'll respond. It's kind of hard. There's so many options nowadays. It's crazy, but I'm always happy to hear from people
[00:26:10] BILLY: Awesome good to have you on, good to see ya thanks so much.
[00:26:11] DAMION: Thanks Billy
[00:26:12] BILLY: Take care.
[00:26:13] Thank you so much for listening to today's episode of unstoppable real estate investing wealth. My mission is to give you my listeners, the blueprint for success inside the secrets for starting growing and scaling. Real estate investing business, So you could experience and live unstoppable lifestyle. I've made it simple for you to catapult yourself to success. Go to Billys secrets dot com@thebillyssecrets.com. There you will find every single tool. Trick strategy system. And you used to make millions of dollars as real estate. Everything my team uses and my guest views all in one place for you to [00:36:00] tap into, you could start, grow and scale the real estate investment business. I [00:27:00] really hope you implement what you're learning. I hope you utilize these tools, tips, tricks, strategies, and secrets, and I hope to see you on the next episode god bless. Bye-bye.