Adventure On Purpose

We dive into capital gains on real estate and ways you can avoid these taxes. 

Examples:

• How long you have lived in the house
• 1031 Exchange
• A certain amount of capital gains 

*Disclosure we are not tax professionals and this information is based on our own knowledge. Seek tax professional advice. 

House Hacking Defined: "House hacking means finding ways to generate income from your home. Traditionally, house hacking meant buying a multifamily property, living in one unit and renting out the others so that the tenants pay the owner's mortgage, and the owner builds equity while maintaining the property."

Both Kel and Lee and Dani and Mike have done house hacking themselves, tune into hear our stories in more detail! 

Listen in while we are walking through how to analyze a long-term rental property. We dig into the expenses, income, and interest rates on a mortgage that will help you decide if the property will meet your real estate goals. 

We have experienced a long and what seems to be an unending winter. Especially here in Minnesota! If you have been feeling that seasonal depression kick in or feel out of it, you might want to tune into this episode! We have in fact been feeling these April Blues ourselves and we wanted to share some tricks and hacks to help get you through the home stretch of this winter and get into Spring ready to go!

What are your thoughts on work/life balance?

"If you can't do anything fun is the hustle even worth it?" -Kellee

A lot of people are talking about work/life balance these days so we wanted to give you guys some of our thoughts on it. 

Listen in to what the Adventure on Purpose crew thinks will happen within the economy in 2023! 

While co-host Dani was having a conversation about retirement with some local people she noticed that not very many people have a plan for how to save for retirement or what they will do once they retire! So we decided to dig into different ways to save for retirement and talk about how it is never too early to be thinking about it! 

One of our hosts Kel started this epic race 4 years ago, the Gitchi Going Race! It is a run to kick off the new year! What started out as just Kel and Lee running it back in 2020 has turned into a yearly event that has both grown in milage and peeps Githci Going for the new year! 

The number of miles to be run is what the new year turns! Example: we just celebrated 2023 so you get to run 23 miles! Or the half option at 11.5 or 2.3 miles! 

This is a recap of the whole Adventure on Purpose Crew doing just that! 

Use these 3 basic building blocks of money habits to accelerate yourself into real estate investing! 

1. Take control of your spending and know where your money goes each month.

2. Eliminate unneeded spending and debt.

3. Leverage your increased savings to accelerate your future.