DEATH AND TAXES!!!
Paul Levine
Commercial Realtor and Real Estate Advisor | Retired CPA with over 50 years of income tax experience that no other Commercial Realtor has, Income Tax Consultant and unmatched Creatively!
?(An associate and friend, Pavan Maddi, wrote this a long time ago and I thought that it was a good article.? By the way, Pavan is a great Realtor and a really wonderful person.)
There is no doubt these are "ABSOLUTES" for each and every one of us.
Taxes, however, can be "minimized" by implementing proper investment and tax strategies. In my opinion, Real Estate is probably the greatest hedge against “income tax” liability, especially when we consider it as part of your long-term wealth strategy. It is probably the best way to develop wealth while minimizing and/or deferring your taxes. Did you know that 90% of the world’s millionaires have been created by investing in real estate? I can tell you that I have seen investors that pay taxes like they are barely making 100k in annual income, but their cash flow is 5x-10x that. How do they do it and what’s their strategy? This is truly a million-dollar question!!
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What should your team look like if you want to succeed in achieving this? Well, I can tell you that you will need the following:
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1. Investment Grade Real Estate Broker
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2. Accountant/CPA that specializes in Real Estate Transactions
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3. Financial Advisor/Analyst
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4. Commercial Lender that understands your long-term goals.
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Typically, what most real estate investors do incorrectly is to compartmentalize these roles. BAD IDEA!! The key here is the team must work together to achieve your end goals. If not, you leave a lot of elements that are overlooked that will ultimately cost you more money in the long run. Some of the bests have built teams like this for decades achieving something very few can achieve.
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My name is Paul Levine, and I am the managing member of LS PROPERTY PARTNERS LLC, and we do things that other realtors and brokers and Certified Public Accountants don’t even think is possible.? You can reach me at (818) 298 – 4000 after 10 AM Pacific Time 7 days a week.? Please, do not call me when Notre Dame is playing football on TV!? And my email address is “PLevine@lspropertypartnersllc” and I promise to answer you in a timely manner every time.?
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HAVE A WONDERFUL WEEKEND AND WE WILL BE HERE AGAIN MONDAY MORNING!!!