All Ships Rising

#11 – "How Can I Balance Tax Write-offs and Purchase a Second Property?"


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Timing Points:

0-2:00: Intro

2:00: Finding a real estate agent.

4:50: How does a real estate get paid?

7:45: Eliza's question – "Maximizing write-offs while being able to buy a second property."

8:30: The Burr Method – using cash-out refinancing to repeat the buying process over and over.

10:00: My personal experience trying to cash-out refi.

12:00: Tax write offs lower your declared income.

14:15: Tips toward how to get the bank to approve you if you're an entrepreneur.

15:40: Commercial financing and multi-units

17:15: HELOCs – home equity line of credits

18:30: Long-term savings vs saving to make a big investment purchase.

20:30: Focusing on expertise and experience vs IRAs

22:00: Keep going! Use the 80/20 Rule to increase your income. Say Yes.

23:00: Wrap up and cat-feeding time!

20:30: Recap and closing

Resources Mentioned:

https://allshipsrising.com/

Vanguard or Fidelity Roth IRA account

https://wealthfront.com

https://www.wealthfront.com/c/affiliates/invited/AFFB-J75A-34KN-PW9Z

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All Ships RisingBy Jewel Rechsteiner