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!

You guys need to watch this video. He makes 1. Income from wholesaling and flipping 2. Invests into real estate to avoid taxes completely 3. Reinvests profits back into his business That’s the HENRY METHOD! The only difference between what Pace does and what I do, is that our INCOME step is different. He makes millions of dollars from wholesaling and flipping, but most of you already have a high income. The income source can come from whatever - it doesn't need to be flipping/wholesaling - but it needs to come from somewhere. The common area between me and pace is steps 2 and 3. You need to buy and hold real estate if you want that benefit of paying less taxes and re-investing those tax savings. Pro tip: Watch it on 1.25x speed

Everyone should go follow him (just look for Ashish in the members tab). He's listed as a resource in my classroom - if you have any tax questions, ask away!