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.
Is residential housing, especially multifamily still a good investment right now? Are prices too high? Are we in a bubble?
As we review the state of the market, large multifamily in particular, we see that assets are performing wonderfully well while others are severely affected by economic issues.
As property prices continue to soar, it's a really hard time to find assets at a price where the numbers make sense. That is unless you have an advantage.
These advantages can include having stellar reputations that put you at the front of the line for opportunities and/or thinking outside of the box to find opportunities or to add value.
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In between cooking, the holidays, the family traditions, the cleanup, and the new year's resolutions, you may have been doing a little reflection over the last few days.
Are you excited to share the progress you’ve made towards your goals with your loved ones?
I tried many things on my journey to building a life with more flexibility (I’m a certified Money Mastery Coach, NLP Coach, Success Coach, certified mediator, certified interior designer, Reiki Master, certified yoga teacher, feng shui expert…). Slowly I started to realize what had been under my nose and all around me for years… real estate.
Because real estate is the perfect passive income vehicle for women, especially those raising a family or caring for others.
Unlike so many of our traditional careers, in real estate you don’t have to trade your time for income. After expenses, what you have is monthly, recurring mostly-passive cash flow … while you sleep! You can vacation, spend...
“When you have clarity of intention, the Universe conspires with you to make it happen.” ~Frederique Frederickson
Clarity of vision is the most magical thing for goddesses, and yet it can be one of the hardest things for many of us to find. I can definitely relate. This was exactly where I was about 4 years ago...
My husband and I had been flipping houses in LA. We thought that was what we wanted to keep doing, but as property values rose it was getting harder to make that business work for us. We started to look for 4+ unit buildings (thinking a buy-and-hold strategy that would keep us cash flowing was a better option), but financially we were finding it nearly impossible to find something (a) we could afford in LA and (b) would make us any money even if we could afford it.
Flipping had been our main source of income. We were stuck and starting to burn through our savings. We had a complete lack of clarity on what to do and how to get out of our situation. I was starting...
What makes a great team member? I always come back to the three C’s when I’m evaluating someone to be on my team, to work for me, or to welcome into my inner circle. These 3 C’s are (in order of importance):
1. Character: this tells me everything I need to know about them. I evaluate how trustworthy they are, I evaluate how they treat all people (like the waitstaff, their assistant, me, etc), and I evaluate their overall integrity. I only want to work with people who are trustworthy and who respect the people around them, so character is a big one for me.
2. Commitment: you don’t want to bring someone on your team who you can’t rely on! So commitment is another key value that I consider before I start working with someone. I look at their commitment to our shared mission/vision/values- are they practicing what they preach? I also evaluate their commitment to our shared project- are they holding up their side of the deal? Are they hitting deadlines? Are...
People all around the world have created millions because they invested in real estate. 90% of millionaires become so through real estate. Today we are going to share 4 incredibly successful female real estate investors that you should know about!
At the age of 23, she quit her job as a waitress and borrowed $1,000 to found a little real estate company in NYC that would become the largest and best-known brand in the brokerage business: The Corcoran Group. She's also a shark on Shark Tank. She has a net worth of $100 million.
Learn more about Barbara here
Dottie began her real estate career in 1978 working as an agent for Merrill Lynch on Long Island. During that time she became one of the top brokers, and in 1989, she took out a $7 million loan to buy Prudential Long Island Realty. From then on she put all her efforts into building the most powerful brokerage on Long Island and then in the Hamptons. She has a net worth of $270 million.
Did you know that the government actually encourages real estate ownership? Buying real estate often lowers your taxes and with depreciation it can appear as though you’re running at a loss. Even though you’re making income, you have lower taxes and no self employment tax on rental cash flow. So more money just goes right into your pocket! That’s the beauty of real estate- it allows you to keep more of the money you make, instead of giving it to the government.
If you're in the States, I want to wish you a very Happy Thanksgiving. I want to say THANK YOU! I'm so grateful that you're along on this journey with me!
I firmly believe that real estate is one of the best ways to build wealth, and that women with wealth give back to their families, communities, and the world. Thank you for doing your part to make the world a better place!
As you enjoy your Thanksgiving feast (or not), remember that not much happens in the Real Estate Investment world in this period between Thanksgiving and New Years' Day.
After Thanksgiving, most sellers will wait until mid-January to put their properties on the market. Many of the insurers, lenders, contractors, lawyers. etc. go on their holiday breaks, so the timelines for closing deals and doing rehab slow way, way down.
It's a sleepy time for deals, but there are definitely things you can be doing. So what can you do to get ready to start making some/more money in real estate next year?
I have three...