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Multifamily Missteps Hosted by Christy Keeton
Are you tired of the "rainbows and butterflies" approach in multifamily investing, where everything unfolds seamlessly, and everybody wins? You never see “behind the scenes” reality.
If you resonate with our perspective, acknowledging that true insights emerge from navigating mistakes and challenges, then you're in the right place.
Join Christy Keeton, your host, as she dives into the missteps and lessons learned encountered by active apartment operators.
In these episodes, we embark on a journey to dissect and analyze the pitfalls within the multifamily project life cycle, focusing on the crucial stages of Finding, Funding, Fixing, or Flipping a project.
Instead of glossing over setbacks, we shine a spotlight on them, providing a valuable learning experience for our audience. Each episode concludes not only by revealing how the issue at hand was rectified but also by sharing other priceless lessons derived from the experience.
It's an unfiltered exploration of the multifamily investment landscape, revealing the intricate tapestry of challenges and solutions that make the journey worthwhile.
Multifamily Missteps Hosted by Christy Keeton
Tax Missteps - Larry Pendleton, CPA
Let’s talk about tax - that three-letter word is daunting for many people, but when you are guided by a professional, it doesn’t have to be too intimidating. It’s truly discouraging not to acquire the expected income due to unanticipated deductions, so having a professional leading you can help limit this frustration. Larry Pendleton talks about his mission as a CPA – helping people achieve financial freedom through real estate and taxes. He highlights the need for real estate investors to create their tax strategy to successfully grow investments.
[00:01 - 06:06] Opening Segment
- Larry Pendleton on accountancy and being meticulous
- Getting started with real estate investing
- Striking the balance to leverage rentals
[06:07 - 13:45] The Disclaimer “Talk to Your Tax Advisor”
- The misconceptions of incentive systems as LPs
- Knowledge is not as assurance for smooth application
- Leveraging other deals for potential offsetting
[13:46 - 21:02] Crafting a Tax Strategy to Grow Investments
- Why TurboTax may not be the best option
- Conversations to have with your advisor
- The audit side of real estate investing
[21:03 - 25:39] Closing Segment
- Have an advisor to limit frustrations
- Final words
Tweetable Quotes:
“Who knows if your tax advisor is fully aware of how the tax law works when it comes to real estate?... It becomes this conundrum… How does it all relate to you? It’s when you have to kind of sit down and get the consultation that's needed.” - Larry Pendleton, CPA
“You're not going to go to urgent care for heart surgery, and you're not going to go to a dentist if you have a foot problem. So you have to find the right specialist… If you're not getting the value that you're expecting to get, like, those are the upfront conversations that you may be having with whoever is potentially going to be your advisor.” - Larry Pendleton, CPA
“My mission in life is to help as many people achieve financial freedom through real estate and taxes.” - Larry Pendleton, CPA
Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3
Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB
Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC
Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.
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