On the show today we are going over all of the highlights of 2018 that are still relevant, and the what to focus on in 2019!
– SIC 043: Real Estate Accounting with CPA Mark Canton
– SIC 057: Tucker Merrihew of TTM Development
– SIC 046: Property Management (and more) with Enrique Jevons
– SIC 033: Deep dive into lending and investing with Albert Bui
– SIC 039: Jan Wanot of WA REI
– SIC 034: Syndication Investing and More with Tamar Mar
– SIC 052: Elisa Zhang on Real Estate Investing & Syndication
– SIC 056: Ryan Gibson of Spartan Investment Group
– SIC 027: Multi-Family Investing with Scott Price
– SIC 032: Husband & Wife Powerhouse Team Christine Kwon & Olivier Rigon
– SIC 048: Flipping Seattle with Jared Holland
– SIC 051: Real Estate Valuations with Davis Hsu
– SIC 028: 15 Year Title & Escrow Expert Podcast
– SIC 050: Real Estate Insurance with Nick Sooy
– SIC 038: Mike Michalowicz Author of Profit First
– SIC 029: Frank Rolfe of Mobile Home University
– SIC 014: Interview with Tarl Yarber of Fixated Real Estate
Notes from the show
The Vantastic Life is…
– in Venice Florida
Reflecting back on 2018 and what we’re going to be going into on 2019.
Looking forward to 2019. Today what we’re talking about is what we’ve seen in 2018, and what all the hot topics were.
Read some good books and wrap up your business plan.
Things are really going to change in 2019, and some people might have gotten a little bit of a spanking from the market dip.
What was hot in 2018…
Opportunity zone will be hot in 2019! A new opportunity for some tax savings. We will do a deep dive in January on this topic with our friend Mark Canton.
You can only write off up to 750k with the new tax changes.
We are going to refer you guys to some of our older topics that we’ve covered that are still going to be relevant.
Real estate accounting with Mark Canton is the first show that we are going to refer back to.
Also, Tucker Merrihew is someone awesome that we interviewed and is a badass down in Portland, he eve did the street of dreams.
Each person individually needs to figure out what their best tax position is. Even if you’re business partners.
In Mark’s show we talk about all kinds of tax things including depression recaptures. Totally a hot topic for 2019 and all times!
Brokerage income and flipping income are taxed at the highest levels. This is a reminder for those of you getting started and also those who are kicking butt.
You guys work so hard looking for deals and dealing with contractors and you’ll have to write a HUGE check to the IRS if you don’t get this figured out.
If you’re newer you can do better than we did.
How about BURR investing… everyone is talking about it right now!
If you buy right and sell right and do right… if you don’t have a tax plan in place you’ll get nailed. You need to have some passive investments that will give you a tax loss.
You collect money monthly, but actually have a tax loss. Cool, right?
You need to understand the different types of income.
Just the topic of BURR investing is getting talked about all over the place. You can start without a lot of money.
All of you should be thinking about investing in rentals from day one because of the tax benefits.
Everyone that’s flipping needs to get in on rental investing.
We have some great shows on all this stuff!
Podcast number 46 with Enrique Jevons. So man major nuggets dropped in this podcast! He manages so many properties. And shares so much in this show.
Including which lenders he uses, and more!
Our friend Albert Bui is a kick ass resource because he such a great contributor. He’s number 33, and on that one we break down on how to underwrite.
Everyone is excited about investing in 2019, and did you know there are different ways to do BURR… there are!
WAREA by Jan Wanot is a great Facebook group you should be apart of.
The different types of BURR will depend on where you are in real estate investing. We will be talking about this a lot more in 2019.
Non of the big puffing on social media matters unless you are doing what you want to do. You might want to keep you full time job… you might love it.
You need to figure out what you want to be happy! Not everyone needs to be throwing a ton of money into the back to make them happy.
Out of state investing and syndications. Syndicating is when someone puts a bunch of people into a pool to buy larger projects.
Tamar Mar number 34 and Investing for Life podcast. Super fun girl that you should checkout!
Another person that does syndications is our friends Elisa Zhang number 52.
Another of our favorite people is Scott Price, who actually schooled us in person at the Club this year. His show is number 27, and called multi family investing.
If you are a member of SIC you can go back and watch all of the videos of the SIC meetings and get all caught up on the monthly meetings.
Login to their membership site at SeattleInvestorsClub.com to see all of these goods!
You can contact Joe if you need help with any of this.
Along the same lines… is passive investing or on your own… diversifying your portfolio in geography or…
One of Julie’s favorite guys is Ryan Gibson. A commercial airline pilot what turned pro investor. He invests in storage facilities and some other things, like an RV park.
Julie will be investing with Ryan, and you should listen to podcast #56 to hear what Ryan is all about.
To get started you can invest with Scott, Elisa, Tamar, or Ryan. You should get to know all of our friends, and you can probably get started investing with them with only $50k to start.
Ryan Gibson of Spartan Investment Group
Moving on along the lines of hot topics…
Along those lines is Cost Segregation, and we are going to have an expert on the show in 2019. Basically allows you to accelerate your write offs on your passive income deals.
You guys are all getting yourself ready to be a syndicator yourselves.
Get a big whiteboard for yourself this Christmas!
Everything seems to connect back to taxes and how to minimize your taxes. What type of corp should you be… we aren’t going to get into that today.
Checkout bigger pockets if you need more information.
Our local flipping pros…
We have some ninjas! Some very successful flippers.
They all drop different nuggets!
Christine and Olivier number 32, but talk about a power house couple! Most likely to run for office. These guys are remarkable!
In fact, they just bought a hotel!
We will have these guys back on the show to talk about general contractors in 2019, and best practices when running your flips. All of the details that goes into flipping and staying in between the legal lines.
We’ve had our first week of the new format for Seattle Investors Club!
One of the new things that we just kicked off is, we are no longer doing a monthly meeting. We are doing quartly events with 3 sessions.
And we are having local coaching on Tuesday’s and Thursday’s in the afternoon. Get on our list to get all of the notifications in the south and north end locations. FREE for members and $25 for non-members.
This blew us away! Major amounts of info shared here! It was super fun!
Bring your deals, talk about local market… whatever you want to talk about.
Great topics are coming out of these small group coaching! Thanks guys!
Other flipping pros!
You definitely want to listen to Jared Holland at number 48 called Flipping Seattle. Jared has some GREAT systems that he runs in the neighborhoods that he’s doing deals in.
Also, Tarl Yarber in podcast number 14. He’s one of the big players in town who’s switching his business from flipping to a buy and hold model.
Podcast 51 with Davis Tsu who is the director of valuations with Veristone Capital. Major nuggets dropped on this show! We talk about some ninja stuff on what to do and what to not do when valuing your properties. All this guy does is calculate ARVs.
Leka is podcast number 58, and will be dropping soon!
You’ve gotta listen to the DUDE with John Kirkpatrick is a title and escrow “dude” that you need to listen to!
Nick Sooy with Farmers on podcast 50 is going to teach you exactly what type of insurance is that you need to be getting for your real estate deals. Which type and what it costs.
You need to do this right now! It has been a game changer for us. Listen to 38 with Mike Motorbike of Profit First. This makes life so easy especially if you have a partner. It keeps your money going where it needs to be. Profit, taxes, owners pay… this system is so easy, it’s painless.
This teaches you how to distribute your money properly.
Mike is hilarious! And you should listen to him on the audiobook.
We don’t want to forget about creative real estate with our friend Jacob Weaver.
For all you people wanting to diversity… looking into mobile homes with Frank Rolfe number 29 from Mobile Home University.
Lastly, you guys need to know how to comp properties… Julie teaches how to comp on number 49. You NEED to know how to do this!!!
That’s about it. Just reflecting 🙂
Every week you can come to round table coaching in Seattle if you’re an SIC member. With the membership you get our personal contracts.
There is some more members only stuff coming up in 2019.