Did you know there’s more than $40 trillion sitting in U.S. retirement accounts — most of which could be invested in real estate? In this episode, Michael Blank chats with Karen Hall, Founder of uDirect IRA and author of The BiggerPockets Guide to Self-Directed IRA Investing, to break down the rules, tax implications, and best practices that allow investors to use their retirement funds to participate in real estate syndications. Whether you're a GP raising capital or an LP investing passively, this conversation will help you unlock one of the biggest capital sources in the world.

Key Takeaways:

• There is $40 trillion in retirement accounts — a huge capital pool most investors overlook.
• Self-directed IRAs can invest in syndications, rentals, notes, crypto, precious metals, and more.
• The IRS has prohibited transaction rules — keep investments arm’s length to avoid penalties.
• UBIT/UDFI taxes can apply when leverage is involved — tax advisors are essential.
• A solo 401(k) can reduce some debt-related tax exposure.
• Recent laws may allow employer 401(k)s to include alternative investment funds, opening the door wider.
• Always ask investors: “Do you have retirement funds?” — because most won’t think of it themselves.

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Syndicated Deal Analyzer

Get the Book, Financial Freedom with Real Estate Investing by Michael Blank

For full episode show notes visit: https://themichaelblank.com/podcasts/session498/

In this episode, Michael talks with Jordan McNeely, a former nuclear engineer who realized his rotating 12-hour shift job was draining his energy and keeping him from family life. That sparked his pursuit of passive income and a scalable path to financial freedom through multifamily real estate.

Jordan dove into education, joined a mentoring program to master underwriting and capital raising, and committed 15 hours a week to learning and networking. In just a few months, he partnered with an experienced team on a 96-unit deal in Charlotte and raised over $700,000 from friends and family — despite never having raised money before.

Key Takeaways:

• Skip single-family and scale faster — multifamily penciled out and aligned with his limited time.
• Time freedom was the motivator — rotating day/night shifts took a toll on family, health, and presence.
• Mindset shift on raising capital — he stopped “pitching” and started asking about investor goals.
• One investor conversation per day → $700K raised in 2 months.
• Retirement funds unlocked big capital using self-directed IRAs.
• Partnerships shortcut experience — he leveraged a team already active in Charlotte.
• He made time a priority — 15 hours/week dedicated to education, networking, and raising capital.

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TheFreedomPodcast.com

Access the #1 FREE Apartment Investing Course (Apartments 101)

Schedule a Free Strategy Session with Michael's Team of Advisors

Explore Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

Review the Podcast on Apple Podcasts

Syndicated Deal Analyzer

Get the Book, Financial Freedom with Real Estate Investing by Michael Blank

For full episode show notes visit: https://themichaelblank.com/podcasts/session497/

Ever wonder what really goes on inside a syndication company? In this rare behind-the-scenes episode, Michael Blank and his Nighthawk Equity business partner, Drew Niffin, pull back the curtain on how they operate their private equity firm — the wins, the painful lessons, and how they’ve adapted during the toughest market the multifamily industry has seen in decades.

They share the full story of scaling from the early partnership days… to building a team… to navigating the last 2.5 years of interest rate spikes, stalled rent growth, and operational pressure. You’ll also get a candid look at what’s changing inside Nighthawk — including new investment opportunities being unlocked for passive investors.

This is the most transparent discussion they’ve ever recorded about what it really takes to run an investment company — and where multifamily investing is going next.

Key Takeaways:

• Success Takes a Team: Syndication is impossible to scale alone. Capital raising, operations, and acquisitions each demand full-time focus.
• Systems Create Stability: Implementing a business operating system like EOS transformed communication, accountability, and execution across the company.
• Hard Markets Build Strong Operators: The last 2.5 years forced better operations, tougher decisions, and stronger lender relationships.
• Debt Determines Destiny: Loan structure can make or break a deal — even if operations are strong.
• Operations Win: Leasing, renewal strategy, resident experience, and in-house oversight are now essential competitive edges.
• The Future Is More Than Multifamily: Nighthawk is expanding into real estate debt funds and boutique private equity (buying profitable small businesses).
• Investor-First Mission: Every system and decision centers on one outcome — delivering reliable performance to passive investors.

Facebook

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YouTube

TikTok

TheFreedomPodcast.com

Access the #1 FREE Apartment Investing Course (Apartments 101)

Schedule a Free Strategy Session with Michael's Team of Advisors

Explore Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

Review the Podcast on Apple Podcasts

Syndicated Deal Analyzer

Get the Book, Financial Freedom with Real Estate Investing by Michael Blank

For full episode show notes visit: https://themichaelblank.com/podcasts/session496/