Tue, 25 July 2017
More money, more problems.
One of the major pain points for high net worth individuals involves taxes. Today’s guest was hit hard with a $497K bill in 2010, and that’s when he decided stop giving his money away to the IRS and start investing in multi-family properties!
David Zook is a wildly successful entrepreneur and experienced investor in the multi-family space who has syndicated over $50M worth of real estate in his career. His portfolio includes 3,000 apartment units in several states as well as Ambergris Caye, the largest resort in Belize. David has entered the ATM market as well, capitalizing on another investment that offers tax-advantage cashflow.
David is also a sought-after speaker and published author who has presented at venues such as the International Business Conference, The Jason Hartman Real Estate Mastermind, and The Cash Flow Wealth Summit. He credits his success to working with world-class teams, and today he discusses why it’s patriotic to take advantage of available tax breaks, the AHA moment that initiated his transition from passive investor to real estate syndicator, and how multi-family investing has evolved over time. Whether you’re a high net worth individual looking to reduce your tab with the IRS or a syndicator looking to raise money, this episode is for you. Listen in as David shares how he leverages paper loss and cost segregation to reduce his tax bill from $475K to nearly zero.
[5:43] Why it’s patriotic to take advantage of tax breaks
[7:27] The tax benefits associated with multi-family investing
[10:49] How to exercise cost segregation
[13:07] David’s advice around choosing syndicator (as a passive investor)
[15:08] How David transitioned from passive investor to syndicator
[18:02] David’s approach to passive investing
[20:24] How David raised money for his first deals as a syndicator
[24:51] How David structures a deal
[26:28] How multi-family investing has evolved
[29:52] David’s ATM investing opportunity
Connect with David
Direct download: MB_071_-_Why_its_Patriotic_to_NOT_Pay_Taxes__with_David_Zook.mp3
Category:Commercial Real Estate -- posted at: 2:16pm EDT
Tue, 25 July 2017
Real estate is no longer a local game, and smart apartment building investors have properties all over the country. The tricky part is finding a way to consolidate the data so that you can manage and analyze your portfolio all in one place. Is it possible to streamline the important property management processes when your investments are operated by different property managers using different software in different states? Today’s guest says, ‘Yes, you can,’ as she reveals how to remotely self-manage your real estate portfolio.
Dana Dunford is a real estate management specialist, licensed agent, and technology guru out of San Francisco. After earning her MBA from Harvard Business School in 2015, Dana co-founded Hemlane, a technology-enabled property management solution designed to support real estate investors in the remote management of their rentals. As CEO of the company, Dana understands that the best investments may not be in your backyard, and she is on a mission to provide investors with a single platform that consolidates and manages properties using intelligent software, virtual maintenance coordinators and local support.
Dana’s impressive resume includes positions at Apple, where she was a part of the worldwide financial planning and analysis team, and tech startup Nest, which was acquired by Google for $3.2 billion in 2014. Today she shares her expertise with the Apartment Building Investing audience, discussing the role of a property manager and the pros and cons of self-management. She covers the metrics you should be tracking as an owner, the benefits of property management software, and the processes that should be centralized across your portfolio. If you have between two and fifty properties, this is a must-listen interview that uncovers the tools available to help you remotely manage your investments.
[3:25] The costliest expense in the property management space
[4:39] How to avoid the expenses associated with turnover
[6:28] The pros and cons of self-management vs. hiring a property manager
[8:23] The role of a property manager
[10:17] Dana’s guidance around making property managers ‘offensive players’
[11:41] Dana’s advice about interacting with your property manager
[13:18] The benefits of property management software
[14:28] The metrics owners should be tracking
[16:17] The processes an owner should prioritize
[17:39] How to incentivize tenants to pay on time
[19:34] The processes Dana recommends centralizing across your portfolio
[21:15] How to consolidate your records
[24:45] The free tools Dana recommends for managing your portfolio
[25:59] The fundamentals of Hemlane software
Connect with Dana
Direct download: MB_070_-_How_to_Remotely_Self-Manage_Your_Real_Estate_Portfolio__With_Dana_Dunford.mp3
Category:Commercial Real Estate -- posted at: 1:59pm EDT