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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 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
Tuesday Jun 02, 2020
Tuesday Jun 02, 2020
Is it time for a fun and educational drinking game? It depends. Do you need clarification on different options in the CARES Act? You’re not alone, so does the Internal Revenue Service (IRS) and U.S. Department of the Treasury. Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- How do I go about researching business tax strategies? Where can I find a list of strategies? Get a free copy of Toby Mathis’s book, Tax-Wise Business Ownership
- With COVID-19, will the IRS grant forgiveness with arrears on payroll taxes? No
- Can I take the 10K advance from the Economic Injury Disaster Loan (EIDL), deny the loan, and roll it into the CARES Paycheck Protection Program (PPP)? An up to $10,000 advance is a grant that doesn’t need to be paid back and isn’t rolled into PPP
- As a flipper in VA, is it worth incorporating to avoid dealer status and is avoiding such actually possible? Yes, if you have the intent to rehab and sell a property, not rent/invest
- What are the basic benefits of the S-Corp? Limited liability, income not subject to self-employment income, and accountable plan
- If I haven’t yet filed a tax return for my corporation, can I still qualify for EIDL or PPP, as the sole owner/operator? Yes, you’ll qualify for EIDL, if in business on Feb. 15
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)
Internal Revenue Service (IRS)
U.S. Department of the Treasury
Paycheck Protection Program (PPP)
Economic Injury Disaster Loan (EIDL)
Real Estate Professional Requirements
Individual Retirement Arrangements (IRAs)
Families First Coronavirus Response Act
Unrelated Business Income Tax (UBIT)
Unrelated Business Taxable Income (UBTI)
Capital Gains Exclusion/Section 121
Anderson Advisors Tax and Asset Protection Event
Thursday May 28, 2020
Thursday May 28, 2020
Remember when you used to thumb through actual yellow and white pages of a phonebook to find people and services? In this episode, Toby Mathis of Anderson Advisors talks to Fred Lovingier, District Manager for Insperity, a professional employer organization (PEO). Fred has more than 15 years of management, marketing, and sales experience.
Highlights/Topics:
- What is a PEO? Outsourcing firm that provides services to small- and medium-sized businesses
- Why work with Insperity? Buying power and outsourcing
- What are the two main reasons why you should consider a PEO? Stabilize high volatility in healthcare costs and employee liability
- What are business owners’ top concerns? Don’t want to deal with other people
- Does Insperity offer employees access to a group health plan at the same price as other big companies? Yes, just like Walmart, Coca-Cola, and UnitedHealthcare
- What about workers’ comp benefits? Workers’ comp is based on a safety rating or mod number addressed as so much per hundred of payroll
- What’s Insperity’s rule of thumb? Vetted company that becomes a client, automatically reduces its current workers’ comp 10%; dangerous fields costs more money
- Whenever a PEO charges or consumes savings, what happens? Buying power is used to create offsets that help make the cost of doing business tolerable
- What if business owners carry health insurance? Most business people know that they’ll get a new rate, typically higher, every year
- What’s typical misconceptions about who’s liable? It's almost impossible to get a group plan these days; but you can go in combination with a group
- Can people be fired or released? Yes, but they may maintain direction and control of their company and receive onboarding/offboarding assistance
- What's the magic number or sweet spot for a PEO? Groups between five and 5,000
- How much does it cost? Typically, it’s less than the cost of hiring somebody, but the quality is significantly higher
- What is Insperity’s vision and mission? Give people the support and tools they need to grow and help businesses succeed for communities to prosper
- How long do Insperity’s clients stay? On average, clients stay 6.8 years, which represents an 80–85% renewal rate each year
Resources
Fred Simonds’s Office: 10845 Griffith Peak Dr., Suite 500, Las Vegas, NV 89135
Fred Simonds’s Phone: 702-470-1948
Fred Simonds’s Mobile Phone: 702-203-0063
Fred Simonds’s Fax: 866-422-1927
Family and Medical Leave Act (FMLA)
Tuesday May 26, 2020
Tuesday May 26, 2020
There are different ways to invest in real estate. Have you tried them all? If not, consider mobile/manufactured homes. Today, Clint Coons of Anderson Business Advisors talks to Glenn Stromberg of Stromberg Investment Group. Glenn describes the profit potential in alternative types of real estate investments. He began his real estate career in 1982 and has 37 years of experience in the mobile home industry. Glenn is giving our listeners 50% off his online course to learn how to invest in mobile/manufactured homes: Mobile Homes Investment Education (Coupon Code: Anderson).
Highlights/Topics:
- What is Glenn’s take on investing in real estate, specifically single-family homes? Buy manufactured homes and follow the same strategy.
- What are mobile and manufactured homes? Real estate, not trailers. Homes go on concrete runners and tied into concrete. Many are wood-frame or vinyl construction. Siding and skirting options vary.
- Do mobile/manufactured homes qualify for financing? Yes, the same FHA financing as a single-family house is possible.
- Are construction standards associated with mobile/manufactured homes? Homes built since 1990 meet construction standards.
- What do most people not understand about mobile/manufactured homes? Homes that meet construction standards are built just as strong or better than other homes.
- Why are these homes cash cows and gold mines? They're built in a factory, they come out at a better price, and they cost less.
- What do these homes offer investors and tenants? They get more square footage for the dollar, whether they buy or lease them.
- Are these homes listed on MLS, as manufactured and/or mobile homes? Yes.
- Is there much competition from companies considering manufacturing/mobile homes? No, they skip that designation because they view it as inferior.
- Do mobile/manufactured homes depreciate? A personal property mobile home will depreciate. When on land, it goes up/down with single-family house business.
- When you remodel a manufactured home, is there anything you have to know? It's much easier because permits don’t need to be pulled, and the process is completed sooner.
- How much do mobile/manufactured vs. traditional homes cost? $80,000-$90,000 vs. $250,000-$275,000.
- Are there zoning requirements for mobile/manufactured homes? Depends on location, city, county, and state.
Resources
Mobile Homes Investment Education (50% off coupon code is: Anderson)
Federal Housing Administration (FHA)
Thursday May 21, 2020
Thursday May 21, 2020
Signs are pointing to big opportunities, so position yourself to take action when investing in real estate. However, avoid mistakes that put you in the ‘big house’ wearing an orange jumpsuit. For example, do you know how to put together an operating agreement to buy an apartment complex? Today, Clint Coons of Anderson Business Advisors talks to Dugan Kelley, a securities attorney and co-founder of Kelley Clarke, PC. As chairman of the firm’s securities and real estate practice group, Dugan assists clients in all phases of multifamily, commercial, and residential acquisitions and sales. Also, Dugan serves as a mediator for other attorneys or settlement counsel for complex litigation matters that require unique solutions.
Highlights/Topics:
- Should you partner with friends/family on real estate investments? Manage expectations. Anytime you take money from someone, they expect a return on that investment.
- What’s the difference between raising capital as a security versus a capital contribution? There’s no friends or family exemption to securities. Contributing equal shares is a joint venture and involves an active role in buying/managing the entity/asset.
- What are the penalties for legal mistakes? Avoid being cheap by taking short-cuts on the legal side. There’s potential for severe/massive fines, penalties, and criminal charges.
- What is the purpose of a Private Placement Memorandum? Protect yourself as a sponsor or syndicator and your investors by identifying potential real estate risks.
- When and who should create a Letter of Intent (LOI)? After a property is under contract and through your entity, not your individual name.
- When should new operators/investors call a securities attorney? After conducting due diligence to determine the possibility to raise capital on property.
- What information needs to be provided to the securities attorney to set up a syndication or transfer entity to start raising capital? LOI and Private Placement Memorandum.
- Is public registration necessary for private placement offerings? Two exemptions: 506b (pre-existing, substantive relationships) or 506c (restricted to accredited investors).
- Should an individual manager create a separate entity to be responsible for the debts and obligations of the syndicated entity? Anybody can be sued for anything. Securities is not something that you want to mess with—cover your assets.
- How to vet deals and investors by identifying red flags? Know what you are buying, your rights and obligations, and who gets paid what and when.
Resources
Kelley Clarke, PLLC: Legal Services
U.S. Securities and Exchange Commission (SEC)
Tuesday May 19, 2020
Tuesday May 19, 2020
Do you loathe the Internal Revenue Service (IRS) and Small Business Administration (SBA)? Why? Lately, both are doing everything possible to undo what Congress is doing to provide financial assistance and relief related to the coronavirus pandemic (COVID-19). Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions and clarify information about the CARES Act. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- Updates on Tax Impact of CARES Act:
- Paycheck Protection Program (PPP)
- Economic Injury Disaster Loan (EIDL)
- Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act
- My wife is 60. In 2019, she had $13,200 of Social Security income and $0 in income earned from work. Can she contribute to her health savings account (HSA) for 2019? High-deductible health plan is required to make contributions to HSA
- What’s the best way to set up a real estate LLC, if you’re an investor that does both buy and hold, and fix and flips? Split them; put buy and holds into LLC or partnership, and fix and flips into S- or C-Corp
- If I pull equity from a house, does the money need to go back into the house or can I use it on another property or for other things? You can use it for whatever you want, but deduct interest on Schedule A
- Can we write off donations to our nonprofit, even though we still haven’t been approved for 501(c)(3) status? Yes, you have 27 months from the application date to get approval
- Is it too late to apply for a PPP loan for a contract worker? No, but apply ASAP
- Will there be a penalty (forgiveness/tax) for paying an employee more than the average 2019 salary calculated (PPP) because of overtime or pension plan payments? There’s no penalty to help with forgiveness amount, but can’t pre-pay anything
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:
Small Business Administration (SBA)
Internal Revenue Service (IRS)
U.S. Government Accountability Office (U.S. GAO)
Paycheck Protection Program (PPP)
Economic Injury Disaster Loan (EIDL)
Individual Retirement Arrangements (IRAs)
Non-Filers: Enter Payment Info Here
Real Estate Professional Requirements
Employer Identification Number (EIN)
Capital Gains Exclusion/Section 121
Tuesday May 12, 2020
Tuesday May 12, 2020
Are you taking time to retool and rethink everything you’re doing in real estate investing? Don’t pass up opportunities. Today, Clint Coons of Anderson Business Advisors talks to Adam Adams from BlueSpruce Holdings. Adam took the plunge into part-time real estate investing, but it quickly became his full-time passion. He has educated and inspired thousands of investors and influencers to build and take their businesses to the next level.
Highlights/Topics:
- How did Adam get started in real estate? Christmas present that led to paying property taxes as a child, although he didn’t do anything wrong; eventually, sold it for profit
- What is BlueSpruce Holdings? Finds and manages apartment communities to allow passive investors diversification, cash flow, tax benefits, and freedom of time
- What is Adam’s primary role in the company? Attract capital, so far successfully raising millions of dollars from private investors and continuing to grow his company’s brand
- What leads to bigger and better deals? Whether people know, like, and trust you
- Why are we here? Why are we different? Because...don’t fake it till you make it
- What are the main components to success? Social media, live events, and meetup/mastermind groups
- Why do people keep coming back? Even if weekly topic isn’t perfect fit, they make sure that they're there because they can start doing business with other serious people
- Why does marketing matter when launching a podcast?
- Episodes: Make sure to have more than one episode ready and post consistently
- Ratings and Reviews: Ask for ratings and reviews to gain traction and get noticed
- Avatar: Attract, understand, and think like your perfect client/target avatar
- What podcast services does Adam offer? Create, manage, edit, and promote for a fee
- What is Adam’s complete money back guarantee? By charging a set amount and understanding the algorithm, he can easily get a top 1% podcast
Resources
Steven Pesavento's Investor Mindset Podcast
Tuesday May 05, 2020
Tuesday May 05, 2020
Do you know all there is to know about the relief provisions in the CARES Act for accessing money due to the COVID-19 crisis? It absolutely has an impact on health and the economy. None of it is going as planned, but additional guidance is available. Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions during this challenging time. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- Updates on Tax Impact of COVID-19:
- Paycheck Protection Program (PPP) and Health Care Enhancement Act passed, signed into law
- Other than deadline to July 15, states not allowing deferred payments
- Economic Injury Disaster Loan (EIDL) is not a loan, but an emergency grant
- How do I file for unemployment payments if I'm an independent contractor? Independent contractors are now eligible, but most states aren't set up yet to do distributions
- Do you know why some people received $1,200 in their account while others didn't? Even when they use ACH? People using TurboTax, H&R Block, Jackson Hewitt, and Liberty Tax got or asked for an advance on their refund for a small fee
- Does the CARES Act allow me to deduct losses from W-2 income with prior year accumulated passive activity losses? No changes were made to passive activity loss rules; if you accumulated PAL, you cannot carry those back
- Can I apply for unemployment and the PPP? Yes, the two are completely separate
- Can I deduct my entire home cost since all of us are working from home? No, if working from home as an employee, it's an employee/non-reimbursable expense
- I have not done my 2019 taxes. Can I still apply for CARES under government bailout programs? Yes, just use something as a backup
- Can I apply for PPP if I did with one bank that has not approved the loan? Yes
- How much EIDL can I qualify for? How is it calculated? Up to $2 million; half of your gross profit
- Any idea when money is deposited after signing the PPP loan? Yes, 10 days after receiving an E-tran number, bank has to provide funding
- Can passive losses from cost segregation be taken on W-2 income if spouse is a real estate professional? Yes, either spouse qualifies, as long as married and filing jointly
- Would getting my real estate license have more benefits for being a real estate professional? Depends if you're using 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
Unlock Free Money from the New Stimulus Bill - CARES Act with Clint Coons and Toby Mathis
Paycheck Protection Program (PPP)
Economic Injury Disaster Loan (EIDL)
COVID-19 and the Family and Medical Leave Act Questions and Answers
Small Business Administration (SBA)
Individual Retirement Arrangements (IRAs)
Non-Filers: Enter Payment Info Here
Real Estate Professional Requirements
Capital Gains Exclusion/Section 121
Tuesday Apr 28, 2020
Tuesday Apr 28, 2020
How can you prepare for present and future real estate investment opportunities? Today, Michael Bowman of Anderson Business Advisors and Bowman's Business Brief talks to Aaron Adams, CEO of Alpine Property Management and Alpine Capital Solutions. Aaron shares statistics and insights on getting good deals during economic ups and downs.
Highlights/Topics:
- What’s the starting point to conduct macroeconomic research and evaluate real estate markets? Harvard University’s Center for Housing Studies Website
- What are counterintuitive things about the current economic state? Nobody knows how housing market will be impacted by Stock Market, Silver Tsunami, and other factors
- What are current risks regarding real estate? Mortgages, unemployment rate, property tax increases, and over-abundance of housing
- What’s different this time compared to the 2008 real estate market crash? No subprime mortgages, housing shortage, and lower vacancy rates
- How, when, and why reallocate retirement? Get financial house in order for opportunities and to address competition
- Is leverage the way to go? Leverage is a tool that shouldn’t be overused
- What are proactive tenant strategies? Educate, communicate, and waive fees
Resources
Harvard University’s Joint Center for Housing Studies
Tuesday Apr 21, 2020
Tuesday Apr 21, 2020
Where’s the cash, and what will give you the most bang for your buck? As you learn more about COVID-19 and related tax relief options, you probably have more questions. Toby Mathis and Jeff Webb of Anderson Advisors offer clarification on how and when to consider early distribution, loans, and paycheck protection. Time is of the essence. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- COVID-19 Tax Impact Updates:
- Paycheck Protection Program (PPP)
- Economic Injury Disaster Loan (EIDL)
- July 15, not April 15: Deadline to file and pay income taxes
- If I don’t have W-2 income, how do I qualify as a real estate professional as LP investor in real estate deals? It’s about time, not income, but there are restrictions
- Are you qualified for a PPP as a sole member LLC? Yes
- How did the SECURE Act change treatment of spousal-inherited IRAs and required minimum distributions from those IRAs? SECURE Act didn’t change anything that had anything to do with spousal-inherited IRAs
- Can I still file 2019 taxes to qualify for the COVID relief funds? Yes, if you didn’t make too much money in 2018
- How does the stimulus affect taxes for property owners? CARES Act doesn’t impact taxes for property owners
- I didn’t file in 2018 or 2019, will I still get the stimulus, if I qualify? Depends, if you are on social security and/or you’re required to file a tax return or not
- Does the bill have provisions for unemployment compensation for those self-employed? Yes, federal government requires states to pay unemployment
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
Unlock Free Money from the New Stimulus Bill - CARES Act with Clint Coons and Toby Mathis
Paycheck Protection Program (PPP)
Economic Injury Disaster Loan (EIDL)
COVID-19 and the Family and Medical Leave Act Questions and Answers
Small Business Administration (SBA)
Individual Retirement Arrangements (IRAs)
Real Estate Professional Requirements
Capital Gains Exclusion/Section 121
Employer Identification Number (EIN)
Non-Filers: Enter Payment Info Here