Before Lou started discussing depreciation, he turned on the cameras for an impromptu peak into one of his Platinum Mastermind group. This is just one of the meetings where people who are using Lou's real estate investing system come to share what they are doing, solve challenges and stay up to date on what is working now. This group requires an application to join, if you are an active investor and would like information on the Platinum group, please call 800-578-8580.
“D” = Depreciation Couple this with a formidable tax strategy that allows us as investors to pretend, for tax purposes, that the value of our property is going down while we really know that in most areas it is going up. We are receiving tax benefits (Depreciation) while receiving income. The income exceeds our expenses, yet we get to write off more than our income. This results in tax losses. Uncle Sam tells us that we lose money even though we made money. I think they call that “Voodoo Economics.” Of course, the real reason the government allows us these tax incentives is to entice us to invest in rental real estate. They learned they aren’t very good landlords and decided giving the public an incentive to deal with tenants would help get them out of the land-lording business. So, this means you can own it, “lose money” while making money, use the “losses” to offset other income, and potentially zero out your taxes! Imagine that.
If you are JUST getting started in real estate investing, you NEED to attend my ONE-DAY virtual training. I teach it LIVE over ZOOM, and it's only $1 (yes, one dollar) for SIX HOURS of solid how-to training! https://www.wealthbuilderworkshop.online
If you're ready for a more in-depth experience, then you owe it to yourself to investigate my THREE- DAY Millionaire Jumpstart Event. I host it four times a year in various locations, and you can attend LIVE and in person. I'm your coach all three days.
Find out more at https://millionairejumpstart.com/
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