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Real Estate Investors, Stock Traders, and Business Owners guide to preserve their wealth, protect their assets, and prosper in the future.
Episodes
Tuesday Jul 21, 2020
Tuesday Jul 21, 2020
Societal issues surrounding autism not only create challenges for children, but their entire family. Parents of children with autism experience anxiety and uncertainty, especially as their children grow up to become adults with autism. Chances are, they will survive their parents. Then, what will happen? Where and how will they live as adults with autism?
In this episode, Toby Mathis of Anderson Advisors talks to Jim Richardson from Neuro Diverse Living. Jim has more than 35 years of consulting services experience and has been investing in real estate for 40+ years. As a principal in a commercial real estate capital consulting firm, Jim raises and manages discretionary investment capital. As a parent of a grown son with autism, Jim’s business vision and personal mission is to connect in a meaningful way.
Highlights/Topics:
- What will happen to Jim’s son, Michael? Every parent raising an autistic child has or will consider available options to plan for future living accommodations.
- What are options most parents consider? Many families make plans with a sibling, such as a brother, sister, aunt, uncle, or other family member, which may only be temporary.
- What about a permanent move? Jim wanted to find a place where Michael could move to and theoretically live for the rest of his life.
- Why? Change for an autistic adult can turn their world upside down. Once might be fine, but not multiple moves.
- What about group homes? These temporary properties tend to be for people with severe disabilities. Unless Michael gets to the point where he needs that next level of care, a group home can’t accommodate him.
- What’s a parent to do? Create their own long-term housing solution to meet Michael’s needs as an adult with autism. Jim and his wife, Nancy, started Neuro Diverse Living.
- Does Michael live with Jim and Nancy? Yes, because they are setting up their first personal care home, also known as residential assisted living (RAL).
- Will the personal care home only be for adults with autism? Neuro Diverse Living is a 501(c)(3) charity with a blended residence of autistic adults and neurodiverse people.
- Will Neuro Diverse Living offer 24/7 care? To be a legitimate business, Jim needs to follow local, state, and federal regulations. Jim’s business will provide housing based on the level of daily living that each individual needs.
- How many people have autism? Nationally, on average, 1 out of 49 people are on the autistic spectrum. In the next 10 years, 1 out of every 4 or 5 adults could have autism.
- Why create an intentional design for Neuro Diverse Living? Jim intends to make the design model available to other families that want to do something similar.
- Is it difficult for autistic adults to get a job? For every 10 jobs available, about two could go to an autistic individual.
- Why does Jim have a separate group that buys properties for him? There’s a tremendous need/opportunity for long-term leases for autistic and neurodiverse homes.
- Did autism used to be confused with schizophrenia? Yes, years ago. People thought it was some sort of major mental defect. They didn't know what it was or how to treat it.
Resources
https://neurodiverseliving.org/
https://www.irs.gov/charities-non-profits/charitable-organizations/exemption-requirements-501c3-organizations
Drexel University’s Autism Research Foundation
https://drexel.edu/autisminstitute/
Madison House Autism Foundation
https://www.madisonhouseautism.org/
https://residentialassistedlivingacademy.com/meet-gene/
https://www.imdb.com/title/tt0095953/
https://andersonadvisors.com/tobymathis-2/
https://andersonadvisors.com/
Anderson Advisors Tax and Asset Protection Event
https://andersonadvisors.com/asset-protection/
https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ
Thursday Jul 16, 2020
Thursday Jul 16, 2020
Real estate investing is like a three-legged stool. One leg is tax planning, second leg is asset protection, and third leg is business planning. Always remember to grow the business side of your real estate investment.
Today, Clint Coons of Anderson Business Advisors talks to Andre Johnson of Deal Mastery about real estate investing from the business planning side. Look at real estate investing as a business to turn cash into something sustainable.
Highlights/Topics:
- Pathway to Financial Freedom: Live rent- and mortgage-free by having tenants
- Strategic Partners and Business Operations: Work on your business, not in it
- Unlock Scalability: Fire yourself from as many roles and responsibilities as possible
- Foundational Building Blocks: Mindset, marketing campaigns, and making money
- Basic Marketing Systems: Opportunities via cold calling, yellow letters, and door hangers
- Financing: Almost every business opportunity might need to get a small business loan
- F-ing Focus: Find, fund, fix, and flip by drawing, sticking to, and working that plan
- Virtual Assistants (VAs): Hiring virtual workers doesn't mean the work stops
- Shiny Object Syndrome: Real estate investing is simple, not easy or overnight success
Resources
Deal Mastery (Download Best-Selling Book by Andre Johnson)
https://www.dealmastery.net/
Deal VAs (Free Consultation with Andre Johnson)
https://www.dealvas.com/
Andre Johnson’s Deal Mastery Website
https://www.dealmastery.com/
Clint Coons
https://andersonadvisors.com/clint-coons/
Anderson Advisors
https://andersonadvisors.com/
Anderson Advisors Tax and Asset Protection Event
https://andersonadvisors.com/asset-protection/
Anderson Advisors on YouTube
https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ
Tuesday Jul 14, 2020
Tuesday Jul 14, 2020
It’s the middle of a sweltering summer and the July 15 deadline to pay your income taxes is fast approaching. Don’t worry because Toby Mathis and Jeff Webb of Anderson Advisors offer a bevy of knowledge to avoid getting burned. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- What is the most tax-efficient way for 401(k) to Roth 401(k) conversion? Entire amount does not need to be converted in one year, or you’ll take a major tax hit
- How do I start a real estate business with income from our current businesses? Is this possible? Yes, pull money out of businesses to establish new real estate entity
- How do I elect trader status? State that you are a trader or select mark-to-market election method of accounting for securities traders
- How can I identify tax breaks at certain income levels? If your income is below the $100,000 threshold, use standard deduction, IRAs, and more to not pay any or much tax
- What is the easiest or best accounting software to keep up with your business expense and get the best tax reductions? Most prevalent software used for accounting and bookkeeping services is QuickBooks
For all questions/answers discussed, sign up to be a Platinum member to view the replay!
Go to iTunes to leave a review of the Tax Tuesday podcast.
Resources:
http://aba.link/iiw
Tax-Wise Business Ownership by Toby Mathis
https://andersonadvisors.com/shop/
https://andersonadvisors.com/tax-wise-workshop/
Individual Retirement Arrangements (IRAs)
https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras
https://www.irs.gov/retirement-plans/traditional-and-roth-iras
https://www.irs.gov/businesses/small-businesses-self-employed/like-kind-exchanges-real-estate-tax-tips
https://home.treasury.gov/policy-issues/top-priorities/cares-act
Economic Injury Disaster Loan (EIDL)
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance
Paycheck Protection Program (PPP)
https://home.treasury.gov/system/files/136/PPP--Fact-Sheet.pdf
Paycheck Protection Program (PPP) Flexibility Act
https://www.investopedia.com/paycheck-protection-program-flexibility-act-of-2020-an-overview-4846944
Small Business Administration (SBA)
https://www.sba.gov/
https://andersonadvisors.com/living_trusts/
https://www.irs.gov/newsroom/new-rules-and-limitations-for-depreciation-and-expensing-under-the-tax-cuts-and-jobs-act
https://www.investopedia.com/terms/d/depreciationrecapture.asp
Real Estate Professional Requirements
https://www.irs.gov/pub/irs-utl/33-Real%20Estate%20Professionals.pdf
Capital Gains Exclusion/Section 121
https://www.irs.gov/taxtopics/tc701
https://www.irs.gov/taxtopics/tc554
Internal Revenue Service (IRS)
https://www.irs.gov/
https://www.irs.gov/tax-reform
https://www.federalrealty.com/
https://www.irs.gov/businesses/small-businesses-self-employed/am-i-required-to-file-a-form-1099-or-other-information-return
https://www.irs.gov/taxtopics/tc429
https://www.irs.gov/pub/irs-pdf/f4797.pdf
https://www.irs.gov/charities-non-profits/charitable-organizations
https://www.irs.gov/forms-pubs/about-form-2553
https://www.healthcare.gov/
https://quickbooks.intuit.com/
https://www.sage.com/en-us/products/peachtree/
https://www.oracle.com/applications/jd-edwards-enterpriseone/
https://www.irs.gov/businesses/small-businesses-self-employed/home-office-deduction
https://www.irs.gov/forms-pubs/about-schedule-c-form-1040
https://andersonadvisors.com/podcast/cost-segregation-with-brett-hansen-replay/
http://tobymathis.com/
https://andersonadvisors.com
https://andersonadvisors.com/all-events/
mailto:Events@andersonadvisors.com
Anderson Advisors Tax and Asset Protection Event
https://andersonadvisors.com/asset-protection/
https://andersonadvisors.com/tax-wise-workshop/
https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ
https://www.facebook.com/AndersonBusinessAdvisors/
https://andersonadvisors.com/podcast/
Thursday Jul 09, 2020
Thursday Jul 09, 2020
Do you know everything there is to know about tangible property regulations? Did you know they even existed? You’re not alone because 90-95% of building owners and investors have never heard of them. In this episode, Toby Mathis of Anderson Advisors talks to Kevin Jerry, Executive Vice President of Sales at Cost Segregation Services, Inc. (CSSI). Kevin is a Master of Taxation (MST) and nationally recognized speaker on cost segregation and tangible property.
Highlights/Topics:
- What are tangible property regulations? Extremely taxpayer-friendly regulations that represent biggest tax change for industry since 1986
- What’s the benefit of cost segregation for clients? Short depreciation life for many assets for a bigger tax deduction
- What is cost segregation? When you separate property that can be removed from a building, instead of the structure of the building
- How are new tangible property regulations different from those before 2014? For assets currently in service; when a repair/expenditure is made, if you take the expenditure, regulations determine if you spread it over 27.5 or 39 years, or expense it in first year
- What are some things you can write off right now? A lot of expenses by breaking a building into components
- What are the three safe harbors?
- De Minimis: If an invoice has an item on it of less than $2,500, generally, it can be expensed.
- Small Taxpayer: If you take the cost of your building minus land and take the lesser of 2% of that cost for $10,000.
- Routine Maintenance: Based on experience levels, industry standards, and warranties, expense the repair/replacement of a component.
- What if safe harbors don’t apply? There are three other rules: per property, component, or taxpayer; you can’t do both a safe harbor and rule, pick one or the other
- How do you know if your CPA knows what they're doing? Ask if they:are applying the tangible property regulations to your trade or business
Resources
CSSI Building Analysis Request (CSSIGBALL) https://cssistudy.wufoo.com/forms/z1gdt1xu19ickzm/
Cost Segregation Services, Inc. (CSSI)
Kevin Jerry’s Email jerryk@costsegserv.com
Kevin Jerry’s Phone: (502) 216-5941
Tuesday Jul 07, 2020
Tuesday Jul 07, 2020
Rather than investing in real estate with emotion, try a more measured approach. Crunch numbers because data beats gut feel and you can’t manage what you can’t measure.
Today, Toby Mathis of Anderson Advisors talks to Neal Bawa, founder and CEO of Grocapitus, a commercial real estate investment company. Neal is the CEO of MultifamilyU, an apartment investing education company. He’s known as the Mad Scientist of Multifamily and uses the power of numbers to acquire properties and create profit for investors.
Highlights/Topics:
- Why should you celebrate failures? A certain number of failures creates a very high rate of success. Failure is a necessary step to success.
- What are the impacts of COVID-19 on real estate? Some good, but mostly bad effects, such as an increase in confirmed cases, job loss, and economic weakness.
- Should investors consider buying or selling real estate right now? Plan ahead to project future wealth by buying and holding onto properties to generate cash flow.
- Should you invest in the Stock Market, real estate, or both? Why? The Stock Market is stressful. Even when real estate values go down, rents tend to go up during a recession.
- What should you consider when buying property?
- Population growth
- Income growth
- Home price growth
- Crimes
- Jobs
- What’s the future of real estate, interest rates, and economy? Things will get back to normal. Opportunities will be available to invest in real estate.
Resources:
RealFocus (Free Real Estate Investing Course)
Tuesday Jun 30, 2020
Tuesday Jun 30, 2020
Confusion continues with the CARES Act and related tax relief programs due to COVID-19. Toby Mathis and Jeff Webb of Anderson Advisors provide clarity by answering tax questions. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- I’ve had my work hours cut due to COVID. Under the CARES Act, can I access my 401(k) from work or solo 401(k)? You can access the solo 401(k) through a distribution or loan, but access to a work 401(k) must be approved by the plan administrator
- How should I handle sales tax within my eCommerce store? Do I follow my state use tax or do I need to get the buyer’s? Depends on various factors, but sales tax is tax on things you sell, and use tax is tax on things you buy
- Do we have to pay taxes on an SBA loan? No, unless loan is not repaid
- Can you accept the EIDL, if you’ve already accepted the PPP loan? Yes
- Will there be any issues with PPP forgiveness, if you accept EIDL? Depends on whether you received the emergency cash grant
- Am I able to purchase real estate with my solo 401(k) account and rent the house to my brother? Yes, your brother isn’t a disqualified party, but you must charge him a fair rent
- Did the deadline for Roth conversions get extended? No, it’s still Dec. 31
For all questions/answers discussed, sign up to be a Platinum member to view the replay!
Go to iTunes to leave a review of the Tax Tuesday podcast.
Resources:
Tax-Wise Business Ownership by Toby Mathis
Paycheck Protection Program (PPP)
Paycheck Protection Program (PPP) Flexibility Act
Economic Injury Disaster Loan (EIDL)
Capital Gains Exclusion/Section 121
Applicable Federal Rates (AFR)
Real Estate Professional Requirements
Individual Retirement Arrangements (IRAs)
Internal Revenue Service (IRS)
Small Business Administration (SBA)
U.S. Department of the Treasury
Tuesday Jun 23, 2020
Tuesday Jun 23, 2020
Do you want to enjoy a lifestyle free from tenants, toilets, and trash? Maybe it’s time to invest in the self-storage business. Today, Michael Bowman of Anderson Business Advisors and Bowman's Business Brief talks to Scott Meyers of Self-Storage Profits, Inc., which offers educational courses, events, and mentoring/coaching.
After becoming a penniless landlord in the single-family rental and apartment business, Scott began investing in self storage. He quickly sold all his single-family rentals and apartments to create a small empire of self-storage facilities nationwide. Scott focuses on syndicating self-storage deals and helping others launch their own self-storage business.
Highlights/Topics:
- What’s Scott’s story and evolution into investing? Shifted from being a hobby to business, but not as much cash flow and free time as anticipated
- What was the first downturn that Scott experienced? During the tech bubble and recession in 1999-2000, when most of his tenants left to buy their own homes
- Why are self-storage facilities in demand? During economic downturns, people lose their jobs, times are tough, and extra stuff is moved into storage until things turn around
- What are the details of self storage? Scott talks to and teaches people about the benefits of self storage and what not to do
- Why did Scott decide to teach others about self storage? Divine calling and mission field due to his story being similar to others struggling in real estate
- Is funding available for self storage? There’s no shortage of lending sources and supplying money flowing into self storage
- What are Scott’s tips and tricks to getting into self-storage business? Start sooner than later, know how to value market, evaluate numbers, get mailing lists to send out mailers, talk with brokers, and find facilities
- Why isn’t Scott afraid of aggregators? Nobody’s forcing owners to use aggregators; look at the market, Websites, traffic, and placement to spend money that draws people in
- What is Scott’s Self Storage Evaluator? Underwriting software that analyzes storage facilities and shows about 150 income and expense categories and calculations
Resources
Community Reinvestment Act (CRA)
Tuesday Jun 16, 2020
Tuesday Jun 16, 2020
With hundreds of tax questions to answer from thousands of people, Toby Mathis and Jeff Webb of Anderson Advisors requested backup. Additional team members include: Eliot Thomas, attorney and accountant; Piao Sam, tax supervisor, and Tavia Harter, bookkeeping services. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- If you lend money to your business, can it be interest-free? If there must be interest, then how much is required? Depends on loan amount; under $10,000, interest isn’t required
- What questions should be asked when interviewing a bookkeeper for a syndicated apartment investment? Ask for their real estate, multifamily syndication, and partnership experience to determine if they understand concept of accounting for such investments
- Is it possible to sell a piece of raw land to our real estate entity to have the entity pay taxes upon sale, instead of personally paying? Yes, but instead, consider contributing raw land to real estate entity rather than selling it to them
- My husband and I use our self-directed IRAs to loan hard money to real estate investors. We hold the note on the property and interest is paid back directly into the IRA at closing, when the note is paid off. What tax documents do we have to provide the borrower each year? Form 1098 and/or Form 1099-INT
- If I transfer my rental property that has a mortgage to a land trust that’s under an LLC, what happens to the depreciation that I’ve been using for the past years when I do my taxes? No difference; depreciation, basis, and more all stay the same
- If my job has been furloughed and I want to take money out of my work’s 401(k) and move it to a self-directed IRA, are there new rules to follow? Will it be counted as income? New laws allow you to do certain things, such as rollover money, but your 401(k) plan must also allow the transfer, but it won’t be considered income
- What is the best entity to use as a real estate agent? S Corp, if state allows it
For all questions/answers discussed, sign up to be a Platinum member to view the replay!
Go to iTunes to leave a review of the Tax Tuesday podcast.
Resources:
Tax-Wise Business Ownership by Toby Mathis (Promo Code for free copy/shipping: TUESDAY) Infinity Investing Workshop
Paycheck Protection Program (PPP)
Paycheck Protection Program (PPP) Flexibility Act
https://andersonadvisors.com/shop/
Real Estate Professional Requirements
Applicable Federal Rates (AFR)
Individual Retirement Arrangements (IRAs)
Unrelated Business Income Tax (UBIT)
Unrelated Debt-Financed Income (UDFI)
1099 Forms for Sole Proprietors
Capital Gains Exclusion/Section 121
U.S. Department of the Treasury
Internal Revenue Service (IRS)
Small Business Administration (SBA)
Taking your Real Estate Business to the Next Level
Healing Veterans Through Surfing – Operation Surf
Thursday Jun 11, 2020
Thursday Jun 11, 2020
Once a professional surfer, Van Curaza has dedicated his life to helping others suffering from Post-Traumatic Stress Disorder (PTSD) through surfing. Today, Toby Mathis of Anderson Business Advisors talks to Van about Operation Surf—Healing Veterans Through Surfing. The program has therapeutic results. It’s not therapy or treatment. It's life-changing and life-saving.
Highlights/Topics:
- Why establish Operation Surf? Going through his own journey of recovery through addiction, Van wanted to not be so selfish, but give back.
- What started the process of helping active duty warriors? Rodney Roller, a Navy Corpsman and amputee surfer wanted to go surfing, again.
- Why focus on service members? Van understands wanting to be good at what you want to do when given a purpose and feeling of self-worth/self-efficacy to succeed in life.
- If a veteran is suffering from PTSD, do they get referred to Operation Surf? Due to extensive airtime, Van gets inquiries from all over the United States, as well as from locals that want to be involved.
- Why are outdoor recreational programs beneficial to veterans? Research studies and data prove that getting people out into nature, into the ocean is helpful for PTSD.
- What does it take to surf? An attitude adjustment. Most people think being able to surf means standing on two legs and standing on a surfboard. You're not going to surf like Van. You're going to surf like you.
- Just say, “Yes,” why? To create connections and relationships. Learn the effects and challenges that others are trying to overcome. Help somebody for the right reasons.
- Why vett veterans? As a non-profit organization, Operation Surf’s vetting process has veterans express their willingness to move forward and achieve maximum effectiveness
- What does Van look for in volunteers/instructors at Operation Surf? Ability to work together and understand your population by speaking their language to trigger specific behaviors, words, or actions.
- How can people help Operation Surf? Volunteer, donate, sponsor, participate, and bond. Whether it’s time, money—whatever you can do.
Resources
Resurface (Netflix Documentary)
The Impact of Ocean Therapy on Veterans with Post Traumatic Stress Disorder by Dr. Russell Crawford
Charities and Non-Profit Organizations
Tuesday Jun 09, 2020
Tuesday Jun 09, 2020
When it comes to investing in single-family homes, it's about the market and understanding the location. Does it have what you want—cash flow, appreciation, or a combination of the two? Today, Clint Coons of Anderson Business Advisors talks to Marco Santarelli about passive real estate investing and single-family properties. Marco is the founder and CEO of Norada Real Estate Investments, a nationwide provider of turnkey cash-flow investment properties. Also, he’s the author of Passive Real Estate Investing and host of the Passive Real Estate Investing Podcast. Marco is on a mission to create wealth and passive income by giving people a path to financial freedom with real estate.
Highlights/Topics:
- Why did Marco become an out-of-state real estate investor? Competition and high prices forced him out of his market. Investing in markets miles away made more sense.
- Why invest in only red or blue states? As far as returns go, a lot of that has to do with property or state taxes, or unintended consequences of policies from politicians.
- How many new investors are going to be interested in investing in that market in the future? None. In California, they’re intentionally trying to destroy the rental market.
- What’s Marco’s criteria when finding properties? It's not always and only about the property. When investing, take a macro view of things.
- What are Marco’s Rules of Successful Real Estate Investing? No. 6 is to take a top-down approach. Select real estate markets that align with your investment goals.
- With real estate, are there enough opportunities? The United States has more than 400 major metropolitan statistical areas and large regions.
- Is all real estate local? There's truth in that. Some even think all real estate is not just local, but hyper-local.
- What are the ABCs of ‘hot’ markets, right now? Atlanta, Baltimore, Carlton, and Dallas. When it comes to making investments, it’s all market data-driven.
- Can Marco’s business actually source properties for people? Yes, that's one of the many value-added services. People and properties make his business work.
- What criteria does Marco consider? What’s his process for helping investors? Everything always starts with a strategy session. It's free and takes 15 minutes to an hour, depending on the level of complexity and questions asked.
- Why is Marco not a fan of the one-stop-shop concept? There are different resources available to investors, including lenders, property managers, title companies, home inspectors, appraisers, asset protection attorneys, CPAs, and tax advisers.
Resources
Free Book: https://www.noradarealestate.com/freebook/
(https://www.noradarealestate.com/freebook/?utm_source=AndersonAdvisors)
Free Strategy Session: https://www.noradarealestate.com/contact
(https://www.noradarealestate.com/contact/?utm_source=AndersonAdvisors)
10 Rules of Successful Real Estate Investing