BiggerPockets Real Estate Podcast

196: LLCs, House Hacking, and Saving on Taxes with Brandon Hall


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What has five letters but causes so much fear that millions of wannabe investors never get started? That’s right: TAXES. But taxes don’t need to be scary — and understanding and utilizing the tax system can actually help grow your business and help you build incredible wealth. That’s why we’re excited today to sit down with Brandon Hall, a CPA and real estate investor who works exclusively with real estate investors to help them strategize and organize their business in the most cost-saving way possible. We cover Brandon’s real estate journey, including house hacking, LLCs, S-Corps, bookkeeping, and so much more. You’ll love Brandon’s engaging and entertaining personality, and for once in your life, you might even enjoy learning about taxes!

In This Episode We Cover:

  • How Brandon realized the need for a CPA through the BP community
  • How he grew his firm through the BiggerPockets Forums
  • The importance of giving value to others
  • The details on his three-unit property
  • Tips for hiring a “leverage property manager”
  • How to find investors in your community
  • The details on his second triplex
  • Why he focuses on multifamily
  • How he funds his deals through FHA loans
  • The way he looks at PMI
  • A mistake he is guilty of when it comes to inherited tenants
  • Training your tenants and other management hacks
  • The tax benefits of house hacking
  • Mistakes he’s made in his real estate investing
  • Tips for finding a good CPA
  • Advice for those deciding whether to use an LLC or not
  • What you should know about LLCs
  • Things to know about the “real estate professional” tax designation
  • When to hire a bookkeeper
  • Common mistakes investors make with taxes
  • And SO much more!
  • Links from the Show

    • BiggerPockets Meet
    • BiggerPockets Webinar
    • BiggerPockets Forums (with new leader feature)
    • BiggerPockets Bookstore
    • BP Podcast 060: From 0 to 68 Rental Units in Just Four Years with Serge Shukhat
    • Xero
    • Quickbooks
    • The Tax Implications You MUST Understand Before House Hacking (blog)
    • Looking to Invest Out-of-State? Here’s How to Pick and Analyze a City (blog)
    • The Importance of Reserve Accounts (Or What a Surprise Roof Replacement Taught Me) (blog)
    • BP Podcast 004: Commercial Real Estate Investing With Frank Gallinelli
    • BP Podcast 162: How to Pay Less to the IRS with Amanda Han, CPA
    • BP Podcast 005: Dealing with Death – A Financial Discussion with CFP Neal Frankle
    • Books Mentioned in this Show

      • The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarland
      • The Book on Managing Rental Properties by Brandon and Heather Turner
      • What Every Real Estate Investor Needs to Know About Cash Flow… And 36 Other Key Financial Measures by Frank Gallinelli
      • It’s Not Rocket Science by Dave Anderson

        Tweetable Topics:

        • “Don’t try to sell yourself. Let your content sell yourself.” (Tweet This!)
        • “You as the business owner should not be in the bookkeeping.” (Tweet This!)
        • “The ongoing tax strategy throughout the year, that’s the time to save money.” (Tweet This!)
        • Connect with Brandon

          • Brandon’s BiggerPockets Profile
          • Brandon’s Company Website
          • Brandon’s LinkedIn
          • Learn more about your ad choices. Visit megaphone.fm/adchoices

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