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Nội dung được cung cấp bởi Brad Labrie, Drew Klingler, Brad Labrie, and Drew Klingler. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Brad Labrie, Drew Klingler, Brad Labrie, and Drew Klingler hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.
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70. House Hacking Tax Secrets and Investment Wisdom with Cody Goldsworthy

50:57
 
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Series đã xóa ("Feed không hoạt động" status)

When? This feed was archived on November 09, 2024 11:25 (1M ago). Last successful fetch was on October 07, 2024 23:35 (2M ago)

Why? Feed không hoạt động status. Server của chúng tôi không thể lấy được feed hoạt động của podcast trong một khoảng thời gian.

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Manage episode 374506464 series 2919954
Nội dung được cung cấp bởi Brad Labrie, Drew Klingler, Brad Labrie, and Drew Klingler. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Brad Labrie, Drew Klingler, Brad Labrie, and Drew Klingler hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.

Ever wanted to know how taxes work with house hacking? Well, you're in luck, as we've got the successful real estate investor and CPA, Cody Goldsworthy, with us, ready to spill all the beans! From his humble beginnings with a summer job to becoming a seasoned pro in the world of accounting, Cody's story is one you don't want to miss.
With anecdotes of his first house hack, his initial hesitations, and bold decisions - Cody paints a vivid picture of the trials and triumphs of breaking into the market. His smart strategies like renovating a house hack to increase value and equity highlight how he navigated his way. The bountiful long-term benefits of his choices are apparent as he shares how he was able to build and grow his portfolio quickly.
And what's real estate success without a savvy tax strategy? Cody dives into the complex world of tax benefits, opening up about passive loss allowance, de minimis safe harbor election, and more that have helped him supercharge his profits. He also sheds light on the power of just getting started, illustrating the potential of long-term wealth building through house hacking, and the importance of understanding your investment profile. So buckle up and get ready to hit the road to real estate success with Cody!
Topics covered in this episode:

  • Renovating a house hack to increase value and equity
  • Taking passive losses on your real estate using passive loss allowance.
  • Taking real estate "losses" on taxes and use it to offset your W2 income by increasing your tax return
  • How do real estate taxes work in a house hack
  • How to find the right CPA for you
  • Long term real estate strategies - bonus depreciation and cost segregation study
  • The 2 year rule
  • Borrowing against your existing equity in the properties you own to do more deals with tax free money
  • How to get started in real estate and take action

Contact Cody and make him your CPA:

Visit our website to learn more about house hacking at househackingsuccess.com

Subscribe on YouTube
House hacking is one the best ways to get started in real estate. So many investors have used house hacking to buy their first rental property with a low down payment, then even live rent free. You can live rent free because the with house hacking you utilize an "owner occupied" loan to buy a property. Owner occupied means you agree to move into it. If you occupy the property you get a lot of loan options that vary from 0-5% down. You can even buy a 4-unit multi-family property depending on the loan! After you move in you rent out the extra space to cover the mortgage, which allows you to live rent free. You only have to do that for a year! After a year you can move out and turn your property into a full time cash flowing rental property! What makes house hacking so powerful is a combination of the low down payment and living for free. You can literally change your life buy purchasing one house hack and cutting out your rent or mortgage. Imagine if you reinvested those savings to buy another property. House hacking is the best way to go from just getting by to becoming a rock star real estate investor.

  continue reading

Chương

1. The Path to Real Estate Success (00:00:00)

2. Exploring Risk Tolerance and Property Investment (00:03:33)

3. Real Estate Investment and Tax Success (00:08:17)

4. Maximizing Real Estate Tax Benefits (00:12:45)

5. Tax Planning and Real Estate Strategies (00:21:08)

6. Leveraging Real Estate Assets and Starting (00:31:28)

7. Getting Started in Real Estate Investing (00:35:46)

8. Success in Real Estate House Hacking (00:44:57)

9. Long-Term Real Estate Investment Pros and Cons (00:47:12)

71 tập

Artwork
iconChia sẻ
 

Series đã xóa ("Feed không hoạt động" status)

When? This feed was archived on November 09, 2024 11:25 (1M ago). Last successful fetch was on October 07, 2024 23:35 (2M ago)

Why? Feed không hoạt động status. Server của chúng tôi không thể lấy được feed hoạt động của podcast trong một khoảng thời gian.

What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 374506464 series 2919954
Nội dung được cung cấp bởi Brad Labrie, Drew Klingler, Brad Labrie, and Drew Klingler. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Brad Labrie, Drew Klingler, Brad Labrie, and Drew Klingler hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.

Ever wanted to know how taxes work with house hacking? Well, you're in luck, as we've got the successful real estate investor and CPA, Cody Goldsworthy, with us, ready to spill all the beans! From his humble beginnings with a summer job to becoming a seasoned pro in the world of accounting, Cody's story is one you don't want to miss.
With anecdotes of his first house hack, his initial hesitations, and bold decisions - Cody paints a vivid picture of the trials and triumphs of breaking into the market. His smart strategies like renovating a house hack to increase value and equity highlight how he navigated his way. The bountiful long-term benefits of his choices are apparent as he shares how he was able to build and grow his portfolio quickly.
And what's real estate success without a savvy tax strategy? Cody dives into the complex world of tax benefits, opening up about passive loss allowance, de minimis safe harbor election, and more that have helped him supercharge his profits. He also sheds light on the power of just getting started, illustrating the potential of long-term wealth building through house hacking, and the importance of understanding your investment profile. So buckle up and get ready to hit the road to real estate success with Cody!
Topics covered in this episode:

  • Renovating a house hack to increase value and equity
  • Taking passive losses on your real estate using passive loss allowance.
  • Taking real estate "losses" on taxes and use it to offset your W2 income by increasing your tax return
  • How do real estate taxes work in a house hack
  • How to find the right CPA for you
  • Long term real estate strategies - bonus depreciation and cost segregation study
  • The 2 year rule
  • Borrowing against your existing equity in the properties you own to do more deals with tax free money
  • How to get started in real estate and take action

Contact Cody and make him your CPA:

Visit our website to learn more about house hacking at househackingsuccess.com

Subscribe on YouTube
House hacking is one the best ways to get started in real estate. So many investors have used house hacking to buy their first rental property with a low down payment, then even live rent free. You can live rent free because the with house hacking you utilize an "owner occupied" loan to buy a property. Owner occupied means you agree to move into it. If you occupy the property you get a lot of loan options that vary from 0-5% down. You can even buy a 4-unit multi-family property depending on the loan! After you move in you rent out the extra space to cover the mortgage, which allows you to live rent free. You only have to do that for a year! After a year you can move out and turn your property into a full time cash flowing rental property! What makes house hacking so powerful is a combination of the low down payment and living for free. You can literally change your life buy purchasing one house hack and cutting out your rent or mortgage. Imagine if you reinvested those savings to buy another property. House hacking is the best way to go from just getting by to becoming a rock star real estate investor.

  continue reading

Chương

1. The Path to Real Estate Success (00:00:00)

2. Exploring Risk Tolerance and Property Investment (00:03:33)

3. Real Estate Investment and Tax Success (00:08:17)

4. Maximizing Real Estate Tax Benefits (00:12:45)

5. Tax Planning and Real Estate Strategies (00:21:08)

6. Leveraging Real Estate Assets and Starting (00:31:28)

7. Getting Started in Real Estate Investing (00:35:46)

8. Success in Real Estate House Hacking (00:44:57)

9. Long-Term Real Estate Investment Pros and Cons (00:47:12)

71 tập

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