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Welcome back to another exciting episode of the IRA Cafe podcast! This week, Jasmine Trocchia, head of marketing at American IRA, sits down with Amir Khan, founder of Dream Prime Homes and longtime friend of the American IRA community. Amir brings a wealth of experience both as a real estate investor and as a first-generation immigrant with a dynamic entrepreneurial background. In their engaging conversation, Jasmine and Amir dive into the story behind Dream Prime Homes, a company dedicated to revitalizing distressed single-family homes in the Midwest and providing critical opportunities for would-be homeowners and investors who may not otherwise qualify for traditional lending. Amir shares personal anecdotes, from moving to Dallas and embracing real estate, to his parallel journey as a music composer and academy owner, highlighting the intersection of his business acumen and creative pursuits. The discussion also explores current trends in real estate, how Dream Prime Homes creates value in underserved markets, and why private money lending through self-directed IRAs offers unique advantages for passive investors. Listeners will also hear about Amir’s new private money lending certification course, his philosophy of uplifting communities one neighborhood at a time, and his outlook on America’s housing crisis. Whether you’re curious about alternative real estate strategies, interested in hands-off investing, or looking for inspiration from Amir’s multifaceted path, this episode offers valuable insights and practical resources for taking control of your financial future. Key takeaways:

1. Building Community Impact: Amir Khan explains how Dream Prime Homes acquires and rehabilitates distressed properties in underappreciated Midwest markets, offering new pathways to homeownership and revitalizing neighborhoods at risk of decline.
2. Private Money Lending and Self-Directed IRAs: The episode highlights how investors can passively participate via private money lending, especially through self-directed IRAs, making real estate investing accessible with low minimums and without hands-on involvement.
3. Hands-On Experience and Education: Amir shares how his background in both business and music education informs his approach, and introduces his new eight-week certification course to empower aspiring private money lenders—free for American IRA clients.
4. Market Trends and Housing Solutions: Jasmine and Amir discuss the shortage of affordable housing, the importance of leveraging existing housing stock over new construction, and the positive long-term trends for investors who support underserved communities.
5. Personal Growth and Mission: Amir emphasizes the importance of aligning business with personal values, helping hardworking families realize their dreams of homeownership, and building partnerships with investors focused on both financial returns and social good.

Whether you're new to real estate, exploring self-directed IRAs, or seeking to make a positive impact, there’s something in this episode for you! [embed]https://youtu.be/Wg4Ux7joWhI?si=SBmUlkadagcVcG08[/embed]

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Welcome back to another episode of the IRA Cafe podcast. My name is Jasmine. I'm the head of the marketing department at American IRA. And today, I am joined by a wonderful human being, Amir Khan from Dream Prime Homes. Hi, Amir. I'm so happy to talk to you on the podcast. You've been on our webinar series a couple of times, so I'm excited to just dive a little bit deeper and talk to you more as a person, and get to know you a little bit better and, and in addition to your business. So tell us, the listeners, who you are and, what you do.

Great. Thank you, Jasmine. It's a pleasure being here. So, yeah, I am Amir Khan. I am based in Dallas, Texas. I am a first generation immigrant, to United States, and I came to United States in 1993. I had, so I have a background in, business and marketing, and I was in the corporate world in, New York City for several years in the travel and tourism industry. And, I mean, it was life was good, but, you know, I always wanted to have my own business.

And, I moved to Dallas in, late nineteen nineties, and my brother, who passed away now, was in commercial real estate at that time. And, so that's what brought me here. But on my personal side, just a little bit information. You know, I'm married. I have three grown up kids. The oldest one is about to turn 30, so that should give a clue about my age maybe. And, yeah. And, you know, we've been in Dallas for North Of Dallas for about twenty, twenty two, twenty three years now.

Oh, wow. That's great. So what do you do for work now? I know what you do, but can you tell the listeners what what you do now?

Sure. So I have a company called Dream Prime Homes and, through which what we do is we invest in distressed single family homes in the Midwest. And, through which one of our goal is to help people who cannot find lending to find homes for themselves, find homes, and get get into these homes. These are older homes. They do require a little bit work, but it allows us to help people like that. So we have, two other kinds of people who buy our homes. These are people who are contractors, real estate investor who want investors who want to get into real estate investments. And, you know, they don't have a lot of cash upfront, but they would like to see a good entry into this.

And that that's what our focus is.

And this makes a good investment vehicle for someone to use their self directed IRA funds because it's a it's a hands off investment. Right? So if I invest with, you with Dream Prime Homes, I don't have to go into the house and do any of the work or can't if I do it with my IRA.

That's correct. And and I think one of the best thing was, you know, the couple of workshops that I've done with you guys, is that the way we, plan the note for our private money lenders is a five year note, which works really well with people who have self directed IRAs. Because if you have, let's say, cash sitting in your savings account or if you've done some fix and flips, you know, you you you're looking for shorter terms because you're going to redeploy your funds. Obviously, you'll end up paying taxes on those because it's not a in a, tax sheltered account. But when you have it in a self directed IRA account, number one, you can do an activity like private lending, which is primarily how our investors are investing with us. So you're absolutely right. This is % passive. It is for both accredited and nonaccredited lenders, and the minimum investment is, just $30.

Oh, wow. That's pretty good. Not not bad. Can come up with $30. So, I'm gonna ask you a couple questions I like to ask every podcast guest who comes on, past, present, and future. So let's start with the past. What is one piece of advice that you would give your younger self?

Yeah. One thing I, you know, that's a very good question. I also feel that we we are, a total sum of everything that we've gone through, our experiences. And sometimes it's just not possible to get where you are without those experiences. So even though I'm saying that, you know, if I was young, obviously the best advice I would give myself would be to, yes, get into real estate investments, as as a primary vehicle. Obviously there are other vehicles as well, but get into real estate investments as early as I can. Obviously, try to save as much as I can. Those would be the two key things, but I still feel that, you know, there was really no way of getting to where you are unless you have these life experiences.

Yeah. I think that's how I feel about my ex husband. Anyway, I wouldn't be who I am today without you. Thanks. So, what about in the present? So in addition to, of course, your Dream Prime Homes and your your business and your investments, what are you doing currently? What's going on in the present for you business wise or personally?

Yeah. So I I think, you know, once you find, something that you do in life and that's, aligned with what you really believe in, I think that really brings value not just to to your life, but it bring brings value to the other people that you're maybe helping. And so what I'm doing currently, I think this is something, I do truly believe in because what it's doing and I can see the differences in the neighborhood we are going in. Let me just give you a little idea of what's happening. So some of these markets, traditionally okay. Let me, back up a little bit. Traditionally, people who invest in real estate, they're being taught that, you know, only invest in markets that are appreciating. Never, invest in markets where, there's population decline, never invest in market where job growth is not there and all that kind of stuff.

Well, guess what? There are plenty of markets in The United States, but I'm specifically going to focus on the Midwest because that's where we are active. And they are, they are markets that have traditionally in these market, traditionally, the home values have stayed stagnant for an extended period of time. Mhmm. And so the banks, are not lending in these markets because the threshold of the price point of these homes is now below the traditional lending requirements. That's number one. So people who want to live in these, areas cannot get traditional financing, number one. Number two, because the values have been stagnant, the the fix and flip people who go in and and and improve the neighborhood because they go in and they buy older home and improve it up and and sell it out. They're not going there because they don't have an incentive anymore.

Right? And so and the even the, traditional renters are finding that in these neighborhoods that, typical type of renter that they're getting are not ideal. They're losing money. Well, so guess what starts happening in these neighborhoods? The neighborhoods keep declining. You start seeing boarded homes, and it's bad for the neighborhood. It's bad for the people, and it's bad for the city. Right? So what we are doing is we are offering that alternative, number one, of financing. You know, we are willing to finance people with minimum requirements. Right? Number one.

Number two, the biggest value we bring is we are helping people who have always wanted the their dream of owning a home, but they just have never been able to save $30, 40 grand, 50 grand to as a down payment. And some of them also find it hard to get financing from our traditional lender like a bank. Right? So these are the people who, you know, work hard. We have lots of different types of, you know, borrowers. You know, I have some tenants, who are truck drivers, and they're very hardworking people. They make good money, but it's very hard for them to get, you know, traditional financing. So when we come in, we are helping improve these neighborhoods. We are also helping people who cannot get homes, and some of these people, you know, thank us for giving them the opportunity to have a home.

So I think I think that's what, you know, I'm doing right now, and I feel that I'm really bringing value. And, obviously, it makes me feel really, really happy. And and while we're doing this, you know, we can make money. Right? And so that's where our private money lenders come in and, you know, I when I talk to private money lenders, that's what we I I asked them, hey. What is what is your goal? Some people are very focused on just making money, and that's all they talk about, which is fine. There's nothing wrong with it. But, I really work more with people who have, you know, bigger goals. They they just also want to do good for the world, and and I think that's that's where this comes in.

Yeah. That's super important. I like that your vision of the way you wanna do business and who you wanna do business with. You mentioned it a little bit too, I think, at the webinars where, you know, it was really poignant. Like, I'm helping somebody get into a house, and that is just as good as trying to help you make money for your retirement. Like, it's it just helps everybody, so I love that ecosystem. So, looking to the future, what sort of trends or, positive or negative do you see coming down the pipe, business or personal? Either way, what do you think the future is for Amir or for Dream Prime Homes or, you know, political climate, could be government, could be economic. What do you see coming in on the horizon?

So we all know there is a housing crisis in The United States. So one of the best ways, just like how we talk about recycling, you know, one of the best ways is to look at the existing inventory that we have. And, I again, I'm gonna talk about the Midwest because that's a very, very good example. After World War three, there was a lot of new home constructions that was for, returning GIs or for small families. And these were specifically smaller homes, two bedroom, one bath, less than thousand square feet. And that's a typical home that we buy. And so I I guess, what's happening and what's going to happen more. We're going to see a lot of money going into these kind of, not specifically what I'm doing, but very specifically going into the existing inventory that is out there and take advantage of what's out there now instead of, you know, purely focusing on new construction or, new housing projects, which as you may know, you know, and you can't blame, developers, you know, when new housing projects come along.

You know, they are, you know, they're not affordable for a lot of people. They are not the entry level people. These are for, you know, high higher dollar amount. And so what what's going to happen to all the other people who want to get into, you know, buying their first home, but they're not there financially? And so I think this is this is a trend that we will see and it'll grow because as we know that there is a shortage of housing, and it will be in the next ten years easily.

Wow. I don't do you see that as having a positive, or is it are you kind of nervous about that

trend? Well, so, I think it's a positive in the sense that we have a solution. It's not a solution for the entire, housing market, but it's a solution that we are offering by neighborhood at a time. And let me just share something with you so you'll understand what I'm talking about. So, like I said, we buy primarily in the Midwest market, and there are some markets where, you know, our formula works because, you know, there is an opportunity. But, if you talk about the markets like Detroit, it's quite sad to see a market like that because, you know, what, forty years ago, it was, you know, it was, one of the powerhouse cities with the automotive capital of United States. And then, I think just yesterday, I was looking at some inventory in these areas, and I can tell you it's so sad. And some of these homes are so nice, all brick construction, beautiful homes, but they've been neglected. And and you see the entire neighborhood, it's all boarded up.

Right? And so, that is a extreme example of something where there was a mass, you know, transfer of people, just people moving out of the city. Right? Things have improved in Michigan, general and in Detroit as well, because in the last twenty years or so, I believe there has been a population decline, in those markets. But in the last I believe in the last two years, we've started seeing, the the numbers getting steady and actually increasing now. So so I I think, you know, in the future, I think one of the solution that we are offering, and I'm hoping there are other people who will come into the industry and they'll find more solutions. But at least for me, I can say that, you know, I'm trying to do my part, you know, in in trying to find a solution for the housing housing crisis.

Yeah. Wow. Hefty hefty mission there, Amir. That's that's pretty hefty. So I know something about you too. You have a music school. Is that still going on? Do you still do that venture?

Yes. Yes. So, so my story is that when I moved, from New York back to Dallas, the first thing I did was I was working for my brother who was in commercial real estate. And so that's where, you know, of course, my interest in real estate started, and that's why that's what I wanted to do. But even prior to that, like I mentioned, I'm a first generation immigrant. I was born and raised in Pakistan, and I was a published composer even then at a very young age. I had, worked with a lot of people in the industry. My first album came out with EMI Pakistan label in the nineteen nineties.

So so I was always in music, and I've always had students. That was something that I did. So that was a skill set I had. So when I first started, in real estate, when I quit working for my brother in Dallas, I just started buying homes. I had no training. I had read Carlton Sheets. I don't know if you know of him, but he was one of the very first gurus who was, offering training courses on real estate. So after reading that, you know, I just started buying, without having any other specific training.

And I had a, very quickly, I had a portfolio of single family homes, duplexes, triplexes, and I was managing everything by myself. Around that time, I I, met with a friend of mine, and then we formed a company. And then we were doing this on a very formal basis. What we used to do was we used to buy, single family homes in the Fort Worth market here in Texas, and we would buy from wholesalers. We would buy them vacant. We would put pen tenants in them. We would cash flow them, and we would sell them as turnkey rentals to out of state investors. So we did very, very well in the two years that we were in, but then the market changed.

And since I didn't have any prior experience, and I think that's very important when you work with, you know, any any any anybody in the real estate market is to see, in the real estate industry is to see, you know, if they've seen the market cycles. If you haven't seen a full market cycle at least once or twice, and they say they're about, you know, a thirteen year cycle, you'll understand that, you know, it repeats. So, when when in our case, when the first cycle happened, I wasn't prepared. And so I had to step back temporarily from real estate, and that's when I started my music academy. So, and so 02/2009, is when I started, and I still have my academy here in Dallas. It runs pretty much by itself. I have, 10, teachers, and we have a 50 students and runs really well. I don't teach anymore, but that's that's a business.

So as a business owner, you know, that that also has given me a lot of, you know, understanding of how to run projects, you know, and that's what I also bring to my, skill set in, managing my my portfolio.

Oh, that's so interesting. What is your instrument of choice?

Yeah. I, was I trained on piano. So I play the piano, the synthesizer, that's that's what my background is. But we, in our school, we teach piano, guitar, voice, drums, violin, viola, cello.

Oh, fantastic. That's neat. And

Did have you ever played an instrument?

What's that?

Do I? Yeah. Do you? Did you never

No. I'm not musically inclined whatsoever. I like to sing in the shower, but Okay. Okay. You

know? Of auto tune?

Yeah. That's it. That's what I need. Is there an app I

get on my phone? You need yeah. Just put on an app and sing, and it just corrects you, and then, you know, you just have that experience.

Yeah. That's it. That's me. Well, I'm I'll do karaoke, you know, stuff like that. Okay. Yeah. Okay. That's fun.

That's fun. So you are a teacher still. Now you are doing a private money lending training course that's brand new. Do you wanna talk about that?

Yeah. Sure. So, just like everybody, you know, I'm I'm a member of, mastermind groups. I'm a member of a lot of real estate groups. And in one of the group, there were a lot of people who wanted to become private money lenders. And, I found that, they had the resources, but they didn't have the skill set or training. Even though it sounds pretty straightforward and simple, but there's a lot that goes into it, you know, understanding, you know, looking at properties, underwriting properties, and all that. So I actually created a course.

It's a eight week, certification course that I'm doing for that, particular group. But then I started seeing that, you know, you and I have done, you know, a couple of workshops. And after those workshops, when I speak to some people who want to do private money lending, I find there there's different categories. There's some people who are experienced. They've done private lending before. It's not a problem. They're ready to go. But then I find some who are I can sense the hesitation because not because of what I'm doing or what the model is.

They kinda understand that. But I found that they were hesitant because now I realized that they didn't have the skill set. And so they needed the con confidence in understanding what goes into that. And so keeping that in mind, I created this course. So now what I'm doing is and, that's a special offer which I can announce later if you like. But if you want, I can talk about it now.

Yeah. No. You whatever. If your call to action and, yeah, where can we find you? How can we sign up? And you had a coupon for American IRA clients?

Absolutely. Yeah. So, so let's say you have a self directed IRA, with American IRA, obviously, then, the you are a little bit closer. I would love to talk to you. Simply go to our website, which is dreamprimehomes.com, and there is a form there. Just complete the form and, schedule a meeting with me and, you know, we'll talk. Let's say you find this interesting and and you like the idea of private money lending, but you don't think you're ready because you need a little bit help, then, send me a message and, ask about, private money lending certification course. That course, if you are a current, client of American IRA and you have an account set up, then, there's a little fee for that course, but we will waive that fee if you are a client.

But if you're not with American IRA, I will have to charge you for it.

Yeah. So sign up first and then no. No. That's great. Thank you so much. Yeah. We've that's I love that. And part of what I do, at American IRA and being in the marketing department is, client education.

And it's so that you yeah. I totally get it. The the the field of private money lending is just as vast and complex as, self directed IRAs. So yeah. Well, that that's fantastic. Well, anything else we didn't touch on that you want listeners to know or to know about Amir Khan before we before we sign off?

No. It's just that I, again, think what you're doing that is bringing guest and I, listen to your other podcast. This is excellent. What you're doing is you're educating people so that they can have options of what to do with their money. There's no one solution for everyone. Everyone is different. Every but one's goals are different. And so we just want to be here as people who can educate and inform and let you be the judge of, you know, what is the best option for you at this time.

Yeah. Absolutely. That's the self directed part of self directed IRAs right there in a nutshell. Absolutely.

Absolutely.

Fantastic. Well, thank you so much, Amir. I would love to have you back as a guest maybe later this summer or or later into 2025, and we'll talk about 2026 trends. And I think that that would be fantastic to have you again.

Sounds good. Thank you so much, Jasmine. I appreciate it. I enjoyed it.

Now it's time for the IRA Cafe q and a segment. This is a part of the show where we answer a question from an American IRA client or a listener. And today, I just wanna do a little PSA for American IRA clients. Did you know if you go to AmericanIRA.com, you can find all the forms you'll need for all of your investments for your IRA account. At americanira.com, at the very top near the social icons, you'll see the word that says forms. Click on that, and it brings you to every single form for American IRA. It can either be printed. Most documents can be printed.

You can save a PDF, or you can file them digitally. Just click on the hyperlinks. So if you ever have any questions about any of our forms, you can find it at americanira.com and the form section.

American IRA LLC, a North Carolina LLC, acts as a third party administrator for new vision trust company, a state chartered South Dakota trust company. As a neutral self directed IRA administrator, American IRA does not recommend or endorse any investments, individuals, or entities, including financial representatives, promoters, or companies. American IRA and the IRA Cafe are not responsible for other statements, representations, or agreements, nor do we evaluate the quality or profitability of any investment. American IRA does not endorse guests on the IRA cafe podcast. Guest opinions are their own and do not necessarily reflect the views of American IRA, its subsidiaries, associates, or custodian. Participation in the podcast is voluntary and no compensation is provided. American IRA is not a fiduciary and cannot offer financial advice. Please consult your CPA or another professional before making financial decisions.