How to Buy a Car in Your LLC - Episode 439

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Today’s episode is 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.

You probably already know the importance of making business purchases in order to lower your overall tax burden. But sometimes, it can be difficult to determine what kinds of purchases can serve as legitimate business expenses. Recently, one of our listeners asked about the idea of purchasing a vehicle as a business expense.

On this episode of Investing in Real Estate, we’re sitting down to discuss the conditions under which it is legitimate to purchase a car as a business expense. We’ll talk about the importance of buying expenses with pre-tax dollars, how to organize your business purchases, and more!

On this episode you’ll learn:

  • How to deduct mileage on your taxes.

  • The importance of taking advantage of depreciation.

  • How to transfer your personal car into your LLC.

  • The likelihood of being audited as a sole proprietor.

  • And much more!

Episode Resources
NoteCast app by EX-IQ
Automatic
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.

Why I Disagree with Grant Cardone and Buy Single Family Homes - Episode 438

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What’s a better real estate strategy: single family homes or multi-family homes? This is the great debate in the real estate world. Many experts have strong opinions about which strategy is better, and today we’re going to explore my personal thought process.

On this episode of Investing in Real Estate, I’m sharing why I prefer investing in single family homes. I’ll give five major reasons why I believe this is a better path for most investors. You’ll learn about the differences between tenants, the truth about values, and more!

On this episode you’ll learn:

  • Why investing in single family homes can be more passive.

  • The psychology behind tenants staying longer in a single-family house.

  • The biggest cost for landlords.

  • Why it’s harder to find motivated sellers in the investor space.

  • Why single-family homes sell faster.

  • And 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 Buy 100 Houses in 3 Years with Zach Beach - Episode 437

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

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.

One incredible method to get involved with real estate is to buy properties on terms. There are multiple ways to do this, and it can be a great way to purchase affordable properties. Today’s guest has purchased 100 homes in less than three years via this method. 

Zach Beach is part of the team at Smart Real Estate Coach, a company that teaches investors how to make money and reach financial freedom. On today’s show, Zach is sharing how he got involved in real estate, and his tips for staying focused in the industry. We’ll also talk about what it’s like to work with a real estate coach, and the importance of staying true to your why. 

On this episode you’ll learn:

  • How Zach got started in the real estate business.

  • The details of Zach’s first deal.

  • One painful lesson Zach learned early in his real estate career.

  • How real estate negotiations work.

  • Food different ways to buy on terms.

  • And much more!

Episode Resources
 NoteCast app by EX-IQ
Sign Up for the Smart Real Estate Coach Webinar
Surviving the Crash and Building a Family Business with Chris Prefontaine - Episode 368
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

Contact Zach Beach
Website
Facebook
YouTube

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 1099 a Contractor - Episode 436

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

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.