When you first get into real estate it’s not just the prices that can be daunting, it can be knowing all of the loopholes. Garrett Sutton, author of the book Loopholes in Real Estate is back for the second half of this two-part series to talk exactly about these loopholes.
We never want it to happen, but unfortunately, legal issues can arise in the real estate business. In such a case you want to know what loopholes exist so you can close them.
When it comes time to do taxes, many of us feel guilty about opening up those loopholes for our benefit. The fact is they are there for everyone to use. They do not discriminate if you are rich or poor. Real estate is a tax advantage. You just have to know how to take advantage of it.
Sutton also covers the benefits of property management companies and going local when it comes to banks, insurance, bookkeepers, and attorneys. Do you know how to transition your LLC over time to avoid state taxes to your kids? Listen until the end and Garrett will tell you how.
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