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LIVE Q&A with Michael is happening in 6 days
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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 πŸ‘‡πŸΌπŸ‘‡πŸΌπŸ‘‡πŸΌ - name, origin, and your reason for joining. Now, Let's get some deals done!
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New comment 2d ago
JUST JOINED? ☞ START HERE
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🚨 Whats happening in September? (+ 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: September 1. In Progress: inviting more wholesalers into the group. 2. In Progress: inviting more tax professionals into the group 3. In Progress: invite more high-level investors into the group 4. In Progress: schedule guest speakers (webinar style) October - TBD November - TBD December - TBD Lastly - vote on the poll below to share what investing style you are interested in?
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New comment 1h ago
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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. πŸ’₯ BOOM! πŸ’₯ 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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Where is everyone investing?
I'm personally looking at Austin, Kileen (4 plexes), and Sacramento CA. Austin prices have come down a lot, Kileen has 4-plexes that hit the 1% rule, and Sacramento allows you to build two ADUs on a SFR lot. All interesting plays, still debating on what to go with.
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New comment 1h ago
If you need to find a profitable STR by the end of the year, watch this video
If you want to learn more, check out STR Search! Don't rush to buy a STR just for tax benefits - make sure it profits really nicely also. Love this testimony - this is the goal for most of you guys looking for a STR Loophole property.
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If you need to find a profitable STR by the end of the year, watch this video
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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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