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Building a Legacy
Investing in real estate is the single greatest producer of wealth in our Country and it can be achieved in one lifetime. Being able to use leverage at really high levels compared to other investments, as well as to defer or avoid paying taxes through tax deferred exchanges make investing in income producing real estate the most efficient and quickest way to build a legacy.
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Building a Legacy
Building a portfolio of income producing real estate and not selling it, but instead passing it along to your heirs can create a legacy which will translate in to a transfer of wealth for multiple generations to come. Being a real estate investor and teaching your children how to become real estate investors is probably the single best thing that you could do to help them achieve financial success. Trust me, they will make a lot more money and have greater quality of life from learning the business than they ever will from getting a career. If a career is what they want, then they still can benefit from the income producing assets which you leave to them through inheritance.
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Building a Legacy
Under current tax law, assuming you want to leave your investment properties to your heirs, they receive those properties at what is known as the “stepped up basis” for tax purposes. What that simply means is from a tax standpoint is that the inherited the property at its current market value, and not the original cost which you paid for it. This is so powerful that you cannot imagine it. Let’s assume you bought an apartment building when you were 50 years old for $750,000 and held it until you passed away at 90 years old. Assuming it appreciated at a rate of 3% per year, the property is worth $2,446,528.34 after 40 years.
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Building a Legacy
Assuming that you taught your children to be good investors, they could refinance the property if they wanted to and put well over $1 million dollars tax free in their pocket which the tenants will pay back for them. They could then use that $1 million dollars to buy even more income producing real estate. Assuming they then passed it along to your grandchildren, the cycle of wealth would continue through time. This is how you create a legacy for your family. Can you imagine how much better your children’s lives could be from following this strategy? Better yet, how about your grandchildren’s lives? Every parent wants a better life for their children than they had, and this is the absolute best way to achieve it. Remember, the sooner you get started, the sooner you will achieve wealth for your family and the generations to follow.
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My AHA moment
One day while in graduate school, I was in a class and we were going over how to accurately price an investment called perpetuity. This type of investment was popular a very long time ago with the British government. The British government would sell you a bond which would pay you interest payment every year forever. In essence they would pay you an interest payment into perpetuity (aka forever), or for as long as the British Empire existed. The British government stopped issuing these securities many years ago, but while I sat in class, I had a major “AHA moment” and the light bulb went off in my head. It occurred to me that income producing real estate was in fact a perpetuity.
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What you will learn...
I started out like many of you, so I know what it is like to have a desire to have financial freedom, but to not have any idea on how to get there. I have some good news for you and that is the fact that I can teach you how to achieve wealth and financial freedom, but it is not going to look anything like the getting rich quick scams. It is going to look like hard work, commitment, and more than likely will take years to achieve it, but you will if you follow what I am going to teach you and take the actions required; you absolutely can achieve your goals.
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Why should I listen to you?
Great question and the short answer is because I HAVE DONE IT! I don’t meant to sound egotistical, but I did figure out the keys to financial success, and I am going to share them with you. I have spent the better part of the last 25 years educating myself, being in the trenches finding deals in real estate, as well as businesses. I have made a lot of money riding the markets up, and I have lost my ass when the bottom fell out in the Great Recession. Markets are markets, and if you were in the market at that time, there was pain, and for me it was brutal, as that was our business. Would I do it all over again with the information I had at the time, the answer is YES, and I would have. The financial meltdown that happened was unforeseen by all of us. Could it happen again? Yes, but is it likely? No. Do not let the fear of what happened in the past keep you from going for it again.
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Why should I listen to you?
I have both a Bachelor of Science degree in Finance, as well as a Master of Science in Finance (MSF). While I was groomed to be an investment manager in Boston, it occurred to me that the way to generational wealth was through real estate investing, not stocks and bonds. To make it simple, you will never outlive your real estate, nor will your children or the generations to follow. You cannot achieve that through investing in the stock market or any other financial products. Besides having the formal education, I have many years of hands on experience as a real estate investor, and I have learned my trade from some of the best people who have ever been real estate investors. I am also an entrepreneur and have owned businesses in both North and South America.
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Why should I listen to you?
In my first year as a part time real estate investor, I was able to acquire 9 rental properties and borrow roughly a million dollars without ever filling out a credit application or talking to a bank. Over my career I was able to build real estate portfolios on more than one occasion. I also managed all of our properties myself, so I probably know more about property management that I would like to know. The cost of my education was probably around $100,000, and the cost of my many years of active experience is priceless. Let me save you years of experience and the possible loss of everything you have by keeping you from making the wrong investment decision. It does not take a lifetime to reach financial freedom, and I CAN teach you how to do it successfully, as I have done it myself. That is why I think you should take my courses.