WIP 1181: Secrets of the Wealthy - How to Keep More of the Money You Make

Wholesaling Inc with Brent Daniels

Find distressed properties for pennies on the dollar and turn them for huge profits!

News, Wholesaling, Education, Houses, Make Money, Business News, Real Estate Agent, Business, Real Estate, How To, Cash Buyers, Entrepreneurship, Wholesale Houses, Entrepreneur

4.9 • 1.4K Ratings

🗓️ 3 April 2023

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Get ready for an insightful and action-packed episode as we dive into the world of real estate investing and discover how you can keep more of the money you make. Our guest, Tom Wheelwright, best-selling author of Tax-Free Wealth and The Win-Win Wealth Strategy, unveils the secrets to building wealth through strategic, tax-saving techniques. This episode is perfect for seasoned investors and newcomers alike, providing valuable information that can transform your financial journey. Be sure to check out Brent's TTP Training Program for an opportunity to work with him personally on building your wholesaling business.

Show notes:

(1:00) - Welcome and Introducing Tom Wheelwright

Kick-start your financial transformation with today's riveting episode

(9:41) - Real Estate Investing: A Team Sport

Learn why collaboration is key to achieving success in the investing world

(13:40) - The Power of Passive Income and Passive Losses

Unlock the potential of passive income while understanding the importance of managing passive losses

(14:50) - Active vs. Passive Income: The Crucial Difference

Discover the two types of income and how they impact your financial strategy

(20:36) - Bonus Depreciation: A Game-Changer for Investors

Tom explains the concept of bonus depreciation and its benefits for real estate investors

(27:14) - Income Generation: The Purpose of Expenses

Uncover the true purpose of expenses and how they drive income generation

(27:05) - Navigating Financial Statements with Confidence

Tom provides a crystal-clear framework for understanding and mastering financial statements

(29:15) - Smart Financing for Long-Term Assets

Learn why utilizing long-term debt is the best approach for financing long-term assets

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Resources:

The Tax Free Wealth by Tom Wheelwright
The Win-Win Wealth Strategy by Tom Wheelwright
Rich Dad Poor Dad by Robert Kiyosaki
WealthAbility
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Transcript

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0:00.0	You're listening to whole-selling episode number 1181.
0:04.7	So why we always taught, you set up your business before you start anything,
0:09.0	because then you can have all these deductions. Is that just a myth?
0:12.8	That's a myth. That's absolutely myth.
0:14.8	It is wise to set up the property entities,
0:17.9	because you get better tax benefits when you do.
0:20.4	You pay less tax if you set up those entities properly.
0:23.6	But you don't gain deductions by setting up a certain way,
0:26.7	and you don't lose deductions by setting up a certain way.
0:28.9	You have deductions because you're in business.
0:31.3	This is Game Changing Information.
0:33.4	Guaranteed to raise your real estate wholesaling business
0:36.4	with actionable steps you can take immediately
0:39.0	to navigate the ins and outs of wholesaling
0:41.5	and start making money today.
0:44.1	Join us as we put our guests in the hot seat and dive deep
0:47.2	to dissect their strategies for success
0:49.6	to enable you to duplicate their results.
0:52.0	You're listening to wholesaling ink.
0:54.3	The only show dedicated to making you a fortune in wholesaling.
0:59.9	Albert Einstein said the hardest thing in the world
1:02.9	to understand is the income tax.
	...

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