How to 1099 a Contractor - Episode 436

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This episode of Investing in Real Estate is sponsored by Fund&Grow. Fund&Grow helps investors access business lines of credit with 0% interest. For $500 off your startup fee, visit morrisinvest.com/funding

Part of being a successful real estate investor is doing your due diligence year-round in order to make tax time easier. Most likely, your business will have employed multiple contractors throughout the year. The IRS requires that you 1099 any person or business that you've paid more than $600.

On today’s episode of Investing in Real Estate, we're sharing all the details on sending 1099s to independent contractors. You'll learn the tax implications for your business, how to be prepared and organized, and more! Let’s get ready for tax season on this episode!

On this episode you’ll learn:

  • Why you should send a 1099.

  • The types of businesses and individuals you should issue 1099s too.

  • How to deal with contractors who don’t want to fill out the 1099.

  • Tips for filling out your own 1099 forms.

  • And more!

Episode Resources
Fund&Grow
WealthAbility
Natali’s Blog Post
Capital One Spark Business Credit Card
Capital One Venture Personal Credit Card
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

Are Real Estate Agents About to Go Extinct? - Episode 435

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Decades ago, real estate agents had access to exclusive data and statistics that were not readily available to the average homebuyer. As new technology emerges and the real estate market continues to shift, real estate agents are worried abut the security of their industry.

On this episode of Investing in Real Estate, we’re diving into the future of real estate agents. We’ll discuss the data on real estate agents, how the industry is changing, and how real estate agents can make a lucrative career in their local markets. Press play to learn more!

On this episode you’ll learn:

  • Why real estate agents typically don’t work with investors.

  • The types of properties real estate agents specialize in.

  • Why real estate agents’ work is a dying art form.

  • What a typical agent’s salary is like.

  • And much more!

Episode Resources
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

How to Get Your Spouse on Board Your Real Estate Investing Journey - Episode 434

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Book a call with our team: https://goo.gl/qr6iat

This episode of Investing in Real Estate is sponsored by Audible. With Audible, you get access to an unbeatable selection of audiobooks including bestsellers, motivation, mysteries, thrillers, memoirs, and more. Get started with a free 30-day trial by visiting audible.com/investing or text INVESTING to 500500.

Today’s episode is also sponsored by the NoteCast app by EX-IQ! NoteCast is a game-changer. You can use it to subscribe and listen to all of your favorite podcasts, but you can also use it to save portions of the podcast whenever you want—and it even automatically generates a transcript for you. You can download NoteCast for iOS or Android by going to notecast.app, and we’ve got a special offer for our listeners: Try it FREE for 60 days by entering code CLAYTON at signup.

So you’re ready to take the plunge and purchase your first rental property, but your spouse isn’t so sure? I’ve been there. You’re not alone. We hear from investors facing this same predicament all the time! Chances are, there’s a more financially conservative partner in every relationship, and so it’s no surprise if your spouse needs little convincing. Natali and I experienced this in our relationship, and we want to share with you how we got on the same page.

On this episode, Natali and I are discussing how you can prepare convincing information and facts to help your spouse better understand real estate investing. We’ll share seven specific strategies you can use to get your spouse on board. You won’t want to miss this episode of Investing in Real Estate!

On this episode you’ll learn:

  • How talking about your family's budget help your spouse better understand real estate investing.

  • Specific strategies you can use to get on the same page as your spouse.

  • What a typical tenant like, and their risk to lose their jobs in a recession.

  • The best ways to get educated about real estate investing.

  • The typical underlying reason why people pass up a deal.

  • And much more!

Episode Resources
Audible
NoteCast app by EX-IQ
FeeX
Rich Dad Poor Dad by Robert T. Kiyosaki
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.


Real Estate Investing for Beginners: How to Not Freak Out When Things Go Bad - Episode 433

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Today’s episode of Investing in Real Estate is sponsored by Pitney Bowes! SendPro Online by Pitney Bowes is an online software that helps you save time and money no matter what you send. SendPro Online is only $14.99/mo, and listeners can get a FREE 30 day trial when you visit pb.com/clayton.

Just like any other business model, sometimes in real estate investing, things go wrong. From soured business partnerships to unexpected repairs, it’s inevitable that you will hit a few roadblocks throughout your investing career.

On this episode of Investing in Real Estate, Natali and I are sharing how to keep your cool when things go awry in your real estate business. We’re discussing why real estate can be so emotional, tips for rationalizing through the pain points, and why it’s so important to not overreact. Don’t miss episode 433!

On this episode you’ll learn:

  • Why so many people have extreme reactions when it comes to investment performance.

  • How to compare your portfolio to the stock market.

  • Why society’s general outlook of investing is jaded.

  • How to use math to help you rationalize a problem.

  • An interesting perspective on disaster from a wealthy investor.

  • Our personal experience with dealing with problems.

  • And more!

Episode Resources
Pitney Bowes
There’s a Cat Stuck in My Furnace - Episode 297
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

Introducing One Plus One - Bonus Episode

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Every great collaboration is a love story. It’s intense. Passionate. Along the way, there are flashes of love, hate, pride, ego, ambition, and brilliance. This is One Plus One, the show about the spark that drives two original thinkers to ultimate success. We’ll unearth the stories of Paul McCartney & John Lennon, Frida Kahlo & Diego Rivera, Beyonce & Jay-Z, Shaq & Kobe, and many more, and learn what it is about their chemistry that led them to greatness. Subscribe to One Plus One today at https://wondery.com/shows/one-plus-one/

How to Invest When You Have Zero Motivation - Episode 432

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Book a call with our team: https://goo.gl/qr6iat

This episode is also sponsored by NetSuite by Oracle, the business management software that handles every aspect of your business in an easy to use cloud platform. Right now, NetSuite is offering you valuable insights to overcome the obstacles that are holding you back - for FREE. Download the free guide, Crushing the Five Barriers to Growth at netsuite.com/clayton.

Do you love the idea of getting started in real estate investing, but simply lack the motivation? It’s easy to come up with excuses, but if you’re serious about creating financial freedom, you’ll have to leave procrastination behind and get motivated. 

On this episode of Investing in Real Estate, I’m sharing simple five-step action plan you can use to channel your motivation and reach your goals! You’ll learn about banishing distractions, getting clear about your goals, and much more. Come along for episode 432!

On this episode you’ll learn:

  • Why getting away from distractions and clutter can help you reach your goals.

  • The importance of identifying your why.

  • One way to identify a clear goal.

  • Tools you can use for task management.

  • Why taking just one step is so powerful.

  • And more!

Episode Resources
NetSuite
Things
Omnifocus
Just Getting Started Playlist
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

The Ultimate Guide to Self-Directed IRAs - Episode 431

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This episode of Investing in Real Estate is sponsored by SimpliSafe. Fear has no place in a place like home. That’s been SimpliSafe’s mission since day one. Protect your home today, and enjoy free shipping on any system order by visiting simplisafe.com/investing.

If you want to take control of your retirement accounts, a self-directed IRA could be a great option for you. A self-directed account allows you choose what types of investments you think will perform best, instead of letting your custodian choose for you.

On this episode, Natali and I are sitting down with our self-directed IRA expert, Hayley Neeley! Hayley is here to help us answer your questions about how to maximize your account! We’ll talk about the finer details of how to invest in real estate with a self-directed IRA, and how to become empowered in your wealth building! Don’t miss this episode of Investing in Real Estate!

On this episode you’ll learn:

  • The difference between a traditional and Roth IRA.

  • Some creative assets you can invest in with a self-directed account.

  • How to determine if your account is truly self-directed.

  • The benefits of self-direction.

  • How to diversify your investments.

  • And much more!

Episode Resources
SimpliSafe
Book a Call with Hayley on our IRA team
Sense Financial
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.