Listen to the Podcast Here: This week’s guest Terry White is an expert in the Airbnb market. He works in multifamily investing. Terry dishes on his Airbnb business Cozy Bnb and how he scored a best deal after only working on five or six deals. Tune into this week’s episode and learn how listening to your gut and going on instincts will lead you to the home run deals. Description Useful Resources Guest Bio [00:00:17] – Introduction to the Real Estate Nerds podcast and Terry White. [00:00:50] – Terry White is the President & CEO of Sunwest Trust, headquartered in Albuquerque, New Mexico, Sunwest Trust, Inc. was founded on the principle of offering clients real-world solutions to all of their self-directed IRA and escrow management needs. Today, Sunwest Trust, together with Sunwest Escrow, serves its clients as both escrow agent and IRA custodian for Individual Retirement Accounts. Real estate investing is very popular with the IRA population. [00:02:06] – One of the biggest problems that people get into with investing with their IRA is purchasing a piece of property and putting it in their own name. The problem with that is that the purchase agreement itself has value. You can’t assign the property from yourself to the IRA. You need a custodian. The safest way to own property out of your IRA is with a property manager that way you don’t have an issue with prohibited actions. [00:04:37] – Terry talks about a “checkbook IRA.” In most states you form an LLC and you have your IRA purchase all the membership units of the LLC. The LLC is the entity that purchases all the property. You can be your own manager of your LLC, but you still have to run all income and expenses through the LLC. [00:06:35] – Be careful using credit cards, you can use a checking account or debit card, but you need to be careful using a credit card. [00:11:09] – Are business trusts legitimate? Terry discusses business trusts and Swanson vs IRS. “If you ever get audited you don’t go see the IRS guy yourself you send your CPA or your tax attorney to go see them.” [00:14:06] – Terry discusses Sunwest and the value it brings to real estate investors. [00:18:25] – Scott and Terry wrap up the podcast. The best way to reach out to Terry is to visit //www.sunwesttrust.com/ You can reference the podcast or you can call Terry’s direct line is 505-938-3809 Listener Resources Thank you for joining us on today’s episode of the Real Estate Nerds Podcast. For even more free educational resources on real estate investing and the law, check out the Royal Legal Solutions blog. You can also reach our host Scott Smith directly, connect with him on LinkedIn, subscribe to the Royal Legal Solutions YouTube channel, or join our investor community on Facebook. Don’t forget to subscribe to stay up to date and have the most current episodes of the Real Estate Nerds Podcast directly in your listening library. Every subscription helps us create new, custom content for you. What did you think of today’s episode? What would you like to hear more about in the future? Leave your thoughts and questions in the comments section below, or leave us a review in the iTunes store. We love hearing your feedback, so fire away. Join us again next week for another fascinating investing conversation. Thanks for listening! Hosted by Scott Smith, Lead Attorney and Founder of Royal Legal Solutions. Schedule your personal consultation now. If you have questions about our content or suggestions for future episodes or guests, reach our podcast team at [email protected]. Terry White, President & CEO of Sunwest Trust, has been working in the real estate & investment world for 35+ years, and he’s got the expertise to prove it. After graduating with a degree in Accounting and working as a controller for a local title company, Terry launched a small escrow company, which quickly gained a reputation for being honest, hardworking and fair. In 2003, Terry took his success a step further and formed Sunwest Trust, Inc. Headquartered in Albuquerque, New Mexico, Sunwest Trust, Inc. was founded on the principle of offering clients real-world solutions to all of their self-directed IRA and escrow management needs. Today, Sunwest Trust, together with Sunwest Escrow, serves its clients as both escrow agent and IRA custodian for Individual Retirement Accounts. Terry has led Sunwest Trust with one goal: to provide outstanding service to each and every client by listening to them and learning exactly what they want. His passion lies in educating investors to build their own self-directed IRA’s, customized to fit their needs and financial goals. When he’s not in the office, Terry enjoys fly fishing, biking, traveling with his wife, and spending time in Colorado.