All of these questions on taxes and real estate in capital gains and today, I'm
going to share with you the six big benefits of investing in real estate and
how you can take maximum control and advantage of all the real estate tax
benefits that are out there just waiting for you.
Everybody, before we start posting in this video, we are not tax advisers
or we do not give tax advice, we are not
professionals in tax. - Take us to your leader. Alright, so we are here to talk
about probably one of the most enthralling topics like all of real
estate land. Taxes. Oh my gosh, so much excitement, right? I mean.. So here's the deal,
right. I mean taxes.. just cause I hit you doesn't mean.. Yeah, okay, probably cool.
Guys, taxes. How do we stay excited about taxes? What is it the tax
provide? Why do we want to talk about taxes? - There's only one reason to be excited.
The exciting thing is real estate does 100% give you hands-down the best tax
advantages the country has to offer, we get to be these blessed Americans in
this country. If you're not from America, then come invest in our real estate and
get some of that real estate action. For those of you that live here, there are a
ton of tax bennies that you pick up along the way. We're going to talk about six
of them. - Tax bennies? Is that Benjamins or is that benefits? - They can totally..
- Either way, right? - Benjamin's. - Okay, either way, tax bennies. Guys, first of all, interest
write-offs. Now you know that when you pay a mortgage payment, there is a
portion of that that is interest, that interest that goes into your real estate
every single month is write off-able. Is that a word? Is it a verb? Write off-able.
- It is now. - I like it. Write off-able. - It's write off-able. Okay, the
reason why that's really important is because your property is producing an
income. If I receive a thousand dollars of rent but I have to pay $700
in mortgage then the IRS is going to look at that, they're going to say,
"Oh, well, we're going to allow you to write off the interest." And you might say, well,
I would expect that, that's a business expense. It's cool that it is classified
that way so that it can be treated as a business expense
but then tax benefit number two that stacks on top of that is what's called
writing off the depreciation of the property and as we break this down, what
that ultimately means, and this is really big, it means that you can show a loss on
paper while you are taking handfuls of money and putting him in your pockets.
Okay, for the first several years that I became a real estate investor, I did not
pay taxes and the reason why is because I got to write off the interest but I
also got to depreciate the property. - Then he spent four years in prison.
No, I'm just kidding.
No, guys, tax, this is the cool thing about real estate taxes is, it can really allow
you to pay, like Kris said, sometimes you can almost pay nothing, sometimes you can
pay nothing in taxes because of all the wonderful things you're taking advantage
of, the interest write-offs, the depreciations. By the way, on a home,
on the structural, on the structure of the home and the structural upgrades on
the home, you can write-off or depreciate that over twenty seven and a half years.
- Let's break that down. Let's say that you had a hundred thousand dollar property
then the IRS will allow you to break that out over twenty seven and a half
years so take a hundred grand, divide that by twenty seven and a half and
that's what you get to write off every year. In that situation, that would be
right around $3,000 a year so here's what that means.. If I were
doing my math and it's like, oh let's say that I made $3,000 of
money this year of cash in hand after I paid my mortgage then if I'm also
writing off an additional three thousand and depreciation, I kept three grand but
it looks like nothing to the government. Depreciation is a really really
really big tax write-off when you're holding real estate long term. Now at
some point, you're going to have to sell property. When you do, there's what's
called a capital gain and the capital gain is any money that you make above
and beyond what you kind of put into the profit. - It's capital, it's money, alright,
it's money gain, this is income. - Yeah, so if I bought the property for $200,000
and I sell it for $300,000, that movement from two to three
hundred, that hundred grand, that's called the gains and they want to tax me on
that and we're going to show you how you can get out of some of that legally and
lawfully with some of the amazing tax loopholes. Here they are.. Number one,
tax defer it through a 1031 exchange. It's a special code that gives you a few
months after the sell of a property to say, hey, I'm filing a paper that says I'm
going to do this special 1031 and I'm going to take it and I'm going to put it in
a similar pret type property and what you're basically saying is, instead of
paying the taxes now, I'm going to defer it and roll it into my next property and I
forego paying those taxes today and instead, I get to roll it into my next
property continuing to pay me. Now rolling that money and actually pays
even more of it down expands your cash flow and guess
who's even richer in real estate now? You are. - So I want to talk about this real
quick and I want to talk about this in terms of a 401k. We've had other videos
where we talk about 401k's and by the way, a 401k, one of the good things
about a 401k is, it helps you to defer taxes, right?
but what real estate does is this actually a much better tax
deferment strategy rather than putting your money in a 401k to defer those
taxes, put it in real estate and then roll it over to more and more and more
real estate through a 1031 exchange and defer those taxes. It's amazing.
- Now, there's another way to defer. Let's say that a 1031 is what you do when you sell
a property. How do I defer any taxes period but still get money out of the
property? You can do that through a rate and term refinance. If you do a cash out
refinance on the property, the money that you get a refinance on a property means
I'm keeping the property, I've got equity into it, I'm working out a deal with the
bank where I'm going to extract some of that so I'm going to get this money cash in
hand and keep the property. Normally, it's like, well you've got more money, you
should pay taxes on that. If you buy it, if you pull it out through a refinance,
it's actually tax deferred so this is another amazing strategy for now not
just having to sell the property like with the 1031, this one is I get to keep
the property and I get money and I don't have to pay taxes on it and I could
either do, well I can do whatever the heck I want but I can also roll it right
back into real estate and keep expanding my cash flow so this is another amazing
tax strategy that comes with real estate. - Friends, if you're doing a real estate
and if you're doing it the right way then your real estate is a business for
you and so one great thing about having a business that you're operating is
there our business right offs also. - Like the example - Yeah, go ahead. - Well like your
cell phone, right? Are you going to talk to a tenant or your property management or a
member of your team? That's part of your tax write-off or the vehicle that you
drive. Where are you going? Right? On a business leased
automobile you can write off the entire lease expense in the name of a business
and there's others as well. You can use up to a certain percentage of your home
as a home office and all the sudden, it's like, well, depending on how much you're
paying each year on your house, there's a percentage of it that you can say, hey, I
don't have to pay taxes on that either because I have
this amazing legal and lawful business. - Absolutely. - My clothes that I'm
wearing, I could not do business without this clothes
so these clothes is important. - These clothes is, it's amazing. Anyways, so the the last one here
that we want to talk about is 2 to 5 years of PR shield. - You can't remember,
that's okay. For those of you, we have a little cheat sheets the side of the camera. I mean we
know this stuff but we have to keep ourselves straight and Steven doesn't
note that last code means. He sucks. - Taxes.
- Alright. Okay, the sixth and final benefit is a really special code for those of you
that are actually living in your home that is your primary residence and
normally when you sell a piece of property, you got to pay capital gains but
there's a special code that says in the last five years, if you spend at least
two years living in that on that property then we're actually going to
exempt you from any capital games. Now this was huge. When I bought my first
property, I bought it for a hundred and ten thousand, ultimately sold it for
around one $165,000 and so there was a
$55,000 gain on that property but I didn't have to pay a
single dollar in any taxes on that increased value and the reason why is
because of this amazing code, which is why we always recommend that even
the home you live in be treated as an investment and as a part of the greater
investment plan and strategy for your real estate empire that you are building
in growing. So friends, this was our video today on the major different tax
benefits and tax write-offs for capital gains and real estate in general. Another
one of the reasons that I love real estate. So if you feel like you're paying
too much in taxes, you likely do not own enough real estate and you know what?
Steven and I, we can take care of that. click this link in the top left corner
up here and what we'll do is, we are going to lay down a custom game plan for
you on how we can get you into more profitable real estate, can give you more
cash flow, feed your retirement and get more of what you need in life while
eliminating your taxes. - We're going to increase everything except for your
taxes. - Yeah and we might not be able to decrease all of your taxes but we
can absolutely add incredible expansive benefits who paying less taxes. - And if we
can keep doing this, Nate will never shut off the camera. - And make sure you that you
subscribe and hit the bell. It's time to get yourself some real estate going and
start taking advantage and cash in on those tax advantages because you can
make your next year way more tax advantageous. Click the link up here,
contact me and my team and we'll start making it happen and dishin' up the good
real estate for you right now.
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