A friend of mine is a successful businessman who owns 3 multi-million dollar businesses. Some would say that’s pretty wealthy, right? BUT the problem is he still found himself owing $500,000 to the IRS one year. My friend was not happy about that and he learned he could reduce it if he invested in real estate. So he did! He bought an apartment building in Memphis, Tennessee and that apartment building brought his tax bill from $500K that year to $0. He’s making money AND he saved $500K. That’s all because of the federal tax benefits that real estate investing allows.
I share this with you to remind you that wealth is not just what you make, it’s what you keep! Real estate allows you to keep a lot more of the money you make, instead of giving it to Uncle Sam.