ATTENTION REAL ESTATE INVESTORS

I let my older son see me do business. I bring him to houses I rehab, to our rentals during inspection, and to wholesale deal settlements because I want him to see that people can be — and need to be — productive. And then I show him what that productivity allows us to do: * Fun stuff. * Adventures.…

I always see people give advice to set BIG goals and then go after them. But I disagree. I’ve done much better having scaled my goals back. The smaller targets are actually achievable. And therefore you actually get more done. Much more. So rather than have “world domination” as your big goal and then wondering why you didn’t achieve it…

Everyone needs a solid attorney behind them. * Walter White had Saul Goodman as his attorney. * Michael Corleone had Tom Hagen as his consigliere. * Donald Trump (the real estate developer) had George Ross. * Now as President he has the Justice Department. Fictional or real. Good guy or bad guy. They all need solid legal consul to do…

LLC’s Have Great Money-Saving Benefits, but most are Worthless? Before telling you why, first the “Potential” Power of LLC’s for real estate… Limited Liability Companies (LLC’s) are powerful entities because they have all of the legal benefits of a corporation; yet all of the excellent tax advantages of a general partnership, and avoid the legal disadvantages of a general partnership…

Looking at one of my rental properties, I take almost a $23,000 deduction on it each year due to a “loss”. Do I really lose that much each year? Heck no! But the IRS allows me to take that degree of loss based on how much the property depreciates each year. This is what’s called a “phantom expense”. You don’t…