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Guest Speaker - Rakesh Patel is happening in 15 hours
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JUST JOINED? ☞ START HERE
1. Download the mobile app (Skool) 2. Mark Emails from this Skool as "Important" 3. Visit the Calendar page and add events to your Google Calendar 4. Sign up for the Monthly meetup 5. Write an Introduction Post in this thread 👇🏼👇🏼👇🏼 - name, origin, and your reason for joining. Now, Let's get some deals done!
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New comment 3h ago
JUST JOINED? ☞ START HERE
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🚨 Whats happening in October? (+ Community Feedback)
Get excited! This community always seeks to provide more value to its members, and I want your feedback + improvement ideas! WHAT DO YOU WANT TO GET OUT OF THIS COMMUNITY? COMMENT BELOW. Coming soon: October - Webinar with Guest Speakers incoming! - In-person meetup on Oct 30! See classroom for more details November - Guest Speakers Incoming! December - TBD Lastly - vote on the poll below to share what investing style you are interested in?
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New comment Sep 28
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❓ What is the HENRY method?
TLDR: The HENRY method prioritizes growing Net worth over Cash Flow (at least at the beginning of your investing journey). There are three pillars in the HENRY real estate investing method. 1. Make (High) Active Income 2. Avoid Taxes on Active Income 3. Re-Invest Tax Savings You are in this group because you have already achieved the first step in the HENRY method. Steps 2 and 3 become more enticing for people with large tax bills - which is why this strategy is more effective for HENRYs than it is for lower income earners. Let's assume you use the HENRY method to avoid 50% of your $80,000 federal income tax liability for that year (I successfully avoided 98% of my federal income tax liability of 80k in 2022 - and yes, I worked with a tax professional). That means you would've saved $40k in taxes - which you can now re-invest into other assets. 💥 BOOM! 💥 Now imagine what that would look like if you did this every year for 5 years. Lower-income earners looking to invest in real estate prioritize cash flow - their goal is typically 10k a month in passive income. Now, that's not a bad goal to have - I'd argue that is the END goal - but it shouldn't necessarily be the initial focus for HENRYs. **The HENRY method prioritizes net worth growth over just cash flow by analyzing a real estate investment on a holistic level considering tax savings and equity growth - and not just cashflow, cashflow, cashflow.** In other words: "The goal isn't 10k in cashflow in 5 years - the goal is a net worth of $3,000,000+ in 5 years" This should be everyone's goal - because if you can achieve a net worth of $3M (or more) in a short period of time, you can always "trade" your assets (while avoiding any taxes) for highly cash-flowing assets. (And cashflow much more than $10k a month). The end goal is the same - but the HENRY Method is ideal for High Earners because:
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New comment Oct 4
New video!
What is the best job combination for married couples? My tax strategist agrees with me - this is the Shaq and Kobe job combination!
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New video!
I just got into contract on Property #5!
Hey all, If you attended the meetup last night - you know that I am under contract as of yesterday for a duplex in TX. I asked my Cost Segregation guy to give me an estimated Cost Segregation to give me an idea of what I could claim for Bonus Depreciation this year for this duplex. Here is what he sent me. I can claim close to $87,000 for bonus depreciation for this property. Since I'm closing at the start of December, I'll only have about $4000 of total rental income collected. Meaning I'll be reporting close to $90,000 of passive losses from this one property - which should reduce my taxable income by $90,000 - and saving me about $35000 in taxes this year from this one property. Just thought I'd share! BTW: My cost seg guy is sam@resurefinancial.com - just let him know Michael Hyun sent you. LETS GET SOME DEALS DONE THIS YEAR!
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I just got into contract on Property #5!
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The HENRY Investor
skool.com/the-henry-investor
A Community for High Earners but Not Rich Yet (HENRY) to Network and Learn about Real Estate Investing.
Founded by Michael Hyun
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