The Real Estate Lab

P: 720-504-5776

E: [email protected]

W: https://links.realestatelab.live/bonnie

[00:00:58] Accelerated Mastermind hosted by Michael Zeller

[00:02:01] Shout-out to my friend, Kristen Boss - https://www.kristenboss.com/

[00:04:34] Bonnie shares her favorite cause to donate money to.

[00:06:37] What's tangible property regulation?

[00:08:21] Real life example of what you could do with this tax law.

[00:13:12] How to capitalize on these benefits?

[00:16:17] How to offset active income?

[00:17:00] 95% of cases claimed to be real estate professional get overturned when the IRS do audits.

[00:21:10] Real Estate Professional Category

[00:22:57] Material Participation

[00:32:59] Being a real estate professional doesn't automatically turn your passive loss into active loss.

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Facebook Group: https://bit.ly/2HizjmC

YouTube: texasrealestateradionet.com

Facebook: https://www.facebook.com/TXRealEstateRadio/

Instagram: @texasrealestateradionetwork

Twitter: @TexasRealEstat2

[00:01:12] Dr Greg Reid's Three Feet from Gold: Turn Your Obstacles into Opportunities! - https://amzn.to/3cnSB8a

[00:05:16] Robert shares his background

[00:08:46] Jason Bible shares when he changed the business operation

[00:09:59] Robert Orfino shares the story of how they met

[00:13:03] Jason sold his business and immediately jumped into buying long term rentals.

[00:13:56] Jason's business model

[00:14:45] You need good construction crew, capital to take down a building and good property managers.

[00:18:08] How Robert and Jason find the funding and deals

[00:23:50] Flooded properties

[00:28:57] How to get in to their 506C fund.

[00:32:42] What you need to get started.

[00:43:37] Robert shares info about his mastermind. You can text 281-401-9008 for more info.

[00:57:12] Books that Robert shares:

- Rocket Fuel: https://amzn.to/2PHqvuG

- The Tao of Pooh: https://amzn.to/2TeSELN

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Chris Miles

Email: [email protected] or [email protected]

Website: www.MoneyRipples.com

Podcast: The Chris Miles Money Show

Social Media: www.facebook.com/moneyripples

[00:01:23] Vee shares about his friend's company, Qualified Apparel. Each item purchased at this site, Ryan Huff, the founder, will donate enough money to feed 20 meals via Feeding America. Check them out at www.Qualified-Apparel.com

[00:05:21] Chris shares about his main plan before going into real estate.

[00:07:35] Chris met financially free people who were in their 20s and 30s, and that's what got him interested in real estate.

[00:08:04] Chris retired in 2006 at the age of 28. But shortly after that, the recession hit, and he was upside down.

[00:09:03] Chris shares with us the mistakes he did around the recession period. One of the mistakes was he was counting on appreciation too much.

[00:09:58] Another mistake was that Chris cut off the other income streams he had.

[00:12:23] Chris shares info about the "income trap."

[00:14:47] How do you get your real estate to pay you twice?

[00:23:01] Chris starts to talk about infinite banking and whole life insurance.

[00:27:06] Example of this infinite banking concept

[00:30:10] What if you never pay back your loan?

[00:41:52] Who is this strategy NOT for?

[00:51:44] Books that Chris had given out the most:

- Think and Grow Rich: The Original, an Official Publication of The Napoleon Hill Foundation: https://amzn.to/2wFutgU

- Rich Dad Poor Dad: https://amzn.to/38RaXMJ

- Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity: https://amzn.to/38Rq6xB

Transcription available at www.RealEstateLab.live

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Travis' Contact:

[email protected]

https://www.facebook.com/travisjwatts

www.linkedin.com/in/traviswatts1234

https://www.biggerpockets.com/users/TravisWatts

Instagram @passiveincometravelers

[00:00:38] Schedule a call with me at www.CallwithVee.com

[00:01:04] Check out my interview with Erik Smith from Fitness and Finance Podcast at www.FitnessNFinance.com

[00:02:12] Tickets for BEC20 available here: http://bit.ly/31D16Ho - Use code "GOALS20" to save 20% at checkout

[00:03:59] Travis started his investing journey with the book Rich Dad Poor Dad - https://amzn.to/31M360c

[00:07:04] Travis shared info on his first passive transaction. He put too much emphasis on a Pro-forma. 

Pro forma is a financial statement produce based on certain assumptions and projections.

[00:07:31] You are not investing so much in the deal but the team.

[00:08:28] Travis talks about his investing process. He starts with vetting the sponsor/ operator. Then looks at the market and the deal itself.

[00:09:36] Travis dives into how to vet a sponsor.

[00:12:19] What questions should you ask the operator? You can also download a guide of all the questions to ask at www.ashcroftcapital.com/passiveinvestor.

[00:14:33] Travis shares the red flags to look for when vetting someone

[00:18:28] How Travis work on his deal flow

[00:21:48] How to find what conference to attend to find good operators.

[00:28:14] Travis shares a day in his life

[00:34:46] Travis shares his last thoughts on what investors should pay attention to before going in a deal.

Full transcript available at www.RealEstateLab.live

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www.WellingsCapital.com

Twitter: @PaulMooreInvest

Email: [email protected]

[00:01:32] IF you want to stick with your resolution and goals, read Atomic Habits by James Clear - https://amzn.to/38ZBqHq

[00:02:22] Paul's book is called The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing - https://amzn.to/2ScvBj7

[00:04:35] Paul realizes that his degree in Petroleum Engineering tied to oil prices. 

[00:05:14] A few years after getting his MBA, Paul started to work for Ford Motor Company.

[00:05:46] Paul and his friend started a staffing company. 

[00:07:02] Paul explains the differences between investing and speculating.

[00:08:29] True wealth are our assets that produce income.

[00:09:19] Commercial real estate's value formula.

[00:11:53] Warren Buffett Model

[00:13:03] Paul mentioned Gary Keller's book. The One Thing - https://amzn.to/37SLrGj

[00:13:35] Adding value to self storage units.

[00:18:42] Paul explains how well self-storage units did in the last downturn.

[00:21:34 - 00:23:45] How to research what area needs more self-storage units.

[00:24:39] How to research the operator.

[00:33:50] Things to look for during due diligence of a self-storage unit. 

[00:38:19] Learn to pull the plug quickly

[00:45:16] Paul suggests finding a book on senior living and read

Check out full transcript at www.RealEstateLab.live

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[00:03:11] Meet Roni in person at the Best ever Conference in Keystone Colorado (https://bit.ly/36utBb8)

Use coupon code "GOALS20" to save 20% at checkout

[00:04:08] Roni and his company donates to Hands Along The Niles (https://www.handsalongthenile.org/)

[00:11:39] Roni starts talking about litigation financing.

[00:13:16] Roni shares examples of how litigation financing works

[00:19:11] Roni explain why his company will only fund a case but will not step in as the lead litigator

[00:24:17] Ronis talks about what he looks for in a case to decide whether or not his firm will fund that case

[00:27:27] Roni shares example on repayment structure

[00:31:29] Roni breaks down the differences in using litigation financing from a firm such as TownCenter Partners vs using a contingency law firm

[00:33:40] Roni tells us the reason behind why his firm doesn't provide litigation financing in certain states

Check out more episodes and full transcript at www.RealEstateLab.live

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Bernard Reisz CPA is the founder of 401KCheckBook.com which gives investors direct control of their tax-sheltered funds for real estate equity and debt opportunities using checkbook controlled IRAs, QRPs, Solo 401K(s) and Checkbook Life Insurance. 

He's also the founder of AgentFinancial.com which provides tax strategy, entity, and financial services to real estate professionals, including real estate agents, real estate investors and mortgage brokers. 

[00:07:01] Bernard explains the different types of QRPs out there. 

[00:11:17] Bernard explains how to correct a mistake you make in a check book 401K.

[00:12:40] Bernard explains about prohibited transactions

[00:13:21] What are the differences between IRA and 401K? 

[00:15:02] Bernard explains the rules required to have a solo 401k.

[00:21:51] You have to include someone in a 401K plan only when they work a minimum of 1000 hours per year for your business.

[00:25:36] Traditional IRA, you can put in on an annual basis of $6,000. With QRPs, you can put in $56,000 a year

[00:26:33] Bernard explains UBIT and UDFI.

[00:30:49] Bernard explains how UDFI tax works.

[00:43:33] Cannabis businesses qualify for QRPs.

FOLLOW BERNARD REISZ:

Websites: https://www.401kcheckbook.com

LinkedIn: https://www.linkedin.com/in/bernard-reisz-cpa/

Consult and Free Entity Formation Call: https://bit.ly/2Rw9N1v

Email: [email protected]

Join our free Facebook Group at www.EastWestVentures.com/AIMS

Listen, subscribe, rate and review: 

Apple: https://apple.co/2BdPdeJ

iHeartRadio: https://ihr.fm/2MPxyAu

Sticher: https://bit.ly/2pUgd0v

Listen Notes: https://bit.ly/2JtpZxi

TuneIn: https://bit.ly/2NhRCe2

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[00:02:40] Yonah works for Madison Specs.

[00:03:06] Yonah had recently surpassed 1000 posts on BiggerPockets.com

[00:03:34] You can schedule a free consultation with Yonah at http://bit.ly/Yonah15Min

[00:07:30] Yonah believes that you have to learn from those who have done it before you.

[00:09:47] If you are not doing cost segregation, you are doing straight line depreciation.

[00:09:56] The IRS allows you to write off the entire value of a building. For commercial, it's over 39 years period and for residential it's over 27.5 years.

[00:10:18] The main categories of cost seg: 

1. Actual Structural Components of the building

2. Personal properties depreciate over a 5-year period (include fixtures, lighting fixtures, special purpose plumbing, etc.)

3. Land improvements (depreciate over 15 years): Landscaping to pavements, to asphalt a parking lot etc.

[00:15:34] Yonah used real number example to demonstrate bonus depreciation and cost seg for mobile home parks.

[00:19:53] Yonah discusses whether you could use the benefit of cost seg to offset your W2 income.

[00:20:50] Yonah discusses briefly about real estate professional and using it to offset the entire W2 income.

[00:24:48] I asked Yonah about Cost seg and Airbnb for a friend. If you have an Airbnb business, you will want to listen to this section. 

[00:35:05] Yonah shares the questions you need to ask a firm before hiring them to do your cost segregation study.

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[00:01:43] You can visit Jonathan's website at www.GreystoneCapGroup.com

[00:02:13] Set up a free call with me at www.CallwithVee.com

[00:04:43] Jonathan bought 3 condos to start. Then bought investment properties in Philadelphia.

[00:05:32] Rich Dad Poor Dad changed Jonathan's life: https://amzn.to/2LWDcQF

[00:06:39] Jonathan mentioned Peter Harris's YouTube channel: https://www.youtube.com/user/CommercialPropertyAd/about

[00:07:01] Jonathan found Michael Blank's analyzer online and purchased it.

You can download Michael's free ebook "The 10-Minute Offer" here https://bit.ly/34kfqEr

[00:07:26] Jonathan mentioned Michael Blank's book "The Ultimate Guide To Investing In Real Estate and Multifamily". You can check it out here: https://bit.ly/2LYc6IW

[00:09:35] You should be getting soft commitments from your investors all along instead of waiting until you have a deal. 

[00:10:46] Educate your investor, so they know what a syndication is.

Three Tips that Jonathan Wei learned from Adam Adams' Raising Money Summit

1. Have a good brand and branding strategy

2. Attend meetups and or host meetups

3. Use a CRM

[00:17:09] Jonathan shares his knowledge about financial due diligence.

[00:25:09] Jonathan shares his plan to implement what he learned at the Raising Money Summit

[00:27:24] Jonathan mentioned a meetup for Asian called Asian American Professionals Connect Dallas.

Don't forget to subscribe, leave a 5* rating and a review. Check out full transcript at www.RealEstateLab.live

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Vinney's Contact Info:

https://vinneychopra.com/

https://www.facebook.com/VinneyChopra/

https://www.instagram.com/vinneychopra/?hl=en

https://twitter.com/vinodsmiles?lang=en

https://www.youtube.com/channel/UC_SGeOpnIHvXWqZE9dMUdlw/featured

Email: [email protected]

[00:02:08] Vinney has two different podcast.

Syndication Made Easy with Vinney (Smile) Chopra: https://podcasts.apple.com/us/podcast/syndication-made-easy-with-vinney-smile-chopra/id1473126675

Mr. Smiles Motivation Talk Show: https://podcasts.apple.com/us/podcast/mr-smiles-motivation-talk-show-vinney-chopra/id1474284264

[00:03:49] Vinney's website is www.VinneyChopra.com

[00:04:42] Apartment Syndication Made Easy: A Step by Step Guide: https://amzn.to/2qD3EY6

[00:23:43] Vinney now buys B-, B products. Millennials like to live in communities with nice amenities, exercise rooms, resort style swimming pools, Jacuzzi, hot tubs, BBQ areas, on site dry cleaning pick up, dog parks, valet trash, cover parking, dog wash, etc.

[00:26:36] Vinney's mastermind is $4,997 and online course is $2,497

You can schedule a strategy call with Vinney's team at: https://bit.ly/348zjhS

[00:28:46] You can create an all around win situation with a syndication. Residents get to live in premier communities. Lenders/ Partners who are most likely baby boomers get to retire and use their retirement funds to invest and get a higher yield.

[00:33:03] Tell everyone you meet that you are looking for equity investor partners.

[00:42:04] Text the word LEARN to 474747 to get more information about Vinney's program. You should also send an email with your background and your goal to [email protected] to his business advisor could help you.

[00:42:54] When emailing Vinney or Jon, please mentioned our show the Real Estate Lab Podcast with Vee Khuu. Vinney will give you $500 or $1000 off depend on the program you are interested to join.

[REVIEW] Want to get Vinney's book? Subscribe, leave a 5 star rating and review. Then email [email protected]. I will pick 3 random winners and reach out individually.

For full transcript, go to www.RealEstateLab.live

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