Before Lou started discussing depreciation, he turned on the cameras for an impromptu peek into one of his Platinum Mastermind groups. This is just one of the meetings where people who are using Lou's real estate investing system come to share what they are doing, solve challenges and stay up to date on what is working now. This group requires an application to join, if you are an active investor and would like information on the Platinum group, please call 800-578-8580.
“D” = Depreciation Couple this with a formidable tax strategy that allows us as investors to pretend, for tax purposes, that the value of our property is going down while we really know that in most areas it is going up. We are receiving tax benefits (Depreciation) while receiving income. The income exceeds our expenses, yet we get to write off more than our income. This results in tax losses. Uncle Sam tells us that we lose money even though we made money. I think they call that “Voodoo Economics.” Of course, the government's real reason for these tax incentives is to entice us to invest in rental real estate. They learned they aren’t very good landlords and decided giving the public an incentive to deal with tenants would help get them out of the land-lording business. So, this means you can own it, “lose money” while making money, use the “losses” to offset other income, and potentially zero out your taxes! Imagine that.
Timestamps:
0:01 - Introduction - “ Let me take you to one of my Platinum Mastermind groups and give some real live examples of what’s going on in the real world!”
0:42 - Lou shows the people who are part of the Mastermind. They are bringing the idea of the Path to Home Ownership program to different parts of the country.
2:00 - The members share their takeaways from Lou’s event
15:30 - Lou Brown shares with everyone their Code of Ethics
18:30 - The Path to Home Ownership movement
19:29 - https://www.WealthBuilderWorkshop.Online - on July 31st - register for $1 - How to find a buyer before you buy a property.
21:40 - Real estate is the I.D.E.A.L. investment - deep dive in Depreciation
25:42 - Next week Lou will talk about EQUITY
Questions for Lou:
26:18 - Is there a limit on the number of years that you can claim depreciation?
26:39 - How do I know the amount of depreciation that can be taken each year?
28:03 - Does depreciation have any downsides?
29:16 - Lou’s parting comments: If you have any doubts that the real estate business is a great thing for you, do more research.
29:30 - Lou’s Book - “Buy, Hold, Sell” - get a $5 discount by going to https://www.StreetSmartInvestor.com/BuyHoldSell
If you are JUST getting started in real estate investing, you NEED to attend my ONE-DAY virtual training. I teach it LIVE over ZOOM, and it's only $1 (yes, one dollar) for SIX HOURS of solid how-to training! https://www.wealthbuilderworkshop.online
If you're ready for a more in-depth experience, then you owe it to yourself to investigate my THREE- DAY Millionaire Jumpstart Event. I host it four times a year in various locations, and you can attend LIVE and in person. I'm your coach all three days.
Find out more at https://millionairejumpstart.com/
Watch Video
No comments:
Post a Comment